Tenet Healthcare Co. (NYSE:THC) Stock Holdings Increased by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in Tenet Healthcare Co. (NYSE:THC) by 29.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,275 shares of the company’s stock after buying an additional 289 shares during the quarter. GAMMA Investing LLC’s holdings in Tenet Healthcare were worth $212,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Winslow Asset Management Inc. grew its holdings in shares of Tenet Healthcare by 2.4% in the 4th quarter. Winslow Asset Management Inc. now owns 158,849 shares of the company’s stock worth $12,004,000 after acquiring an additional 3,670 shares during the last quarter. Vanguard Group Inc. raised its holdings in Tenet Healthcare by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock worth $839,613,000 after buying an additional 172,913 shares during the period. Kingdon Capital Management L.L.C. purchased a new stake in Tenet Healthcare during the fourth quarter valued at about $4,833,000. Rise Advisors LLC purchased a new position in shares of Tenet Healthcare in the first quarter worth approximately $29,000. Finally, Park Avenue Securities LLC lifted its position in shares of Tenet Healthcare by 8.0% in the 1st quarter. Park Avenue Securities LLC now owns 13,255 shares of the company’s stock valued at $1,393,000 after acquiring an additional 978 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on THC shares. Wells Fargo & Company boosted their target price on shares of Tenet Healthcare from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. KeyCorp began coverage on Tenet Healthcare in a research note on Friday. They issued an “overweight” rating and a $200.00 price objective for the company. Citigroup lifted their target price on Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Barclays raised their price target on shares of Tenet Healthcare from $156.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group increased their target price on shares of Tenet Healthcare from $156.00 to $173.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $155.47.

Tenet Healthcare Stock Performance

Shares of NYSE THC opened at $155.80 on Friday. The business’s 50-day simple moving average is $158.58 and its 200-day simple moving average is $136.49. Tenet Healthcare Co. has a 52 week low of $51.04 and a 52 week high of $171.20. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.38 and a current ratio of 1.45. The firm has a market cap of $14.93 billion, a price-to-earnings ratio of 5.72, a P/E/G ratio of 0.78 and a beta of 2.14.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.42. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.98 billion. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. As a group, equities research analysts expect that Tenet Healthcare Co. will post 10.73 earnings per share for the current fiscal year.

Tenet Healthcare announced that its Board of Directors has authorized a stock buyback program on Wednesday, July 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 10.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Director Meghan Fitzgerald sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the completion of the sale, the director now owns 15,269 shares in the company, valued at $2,234,465.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Paola M. Arbour sold 8,377 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $156.00, for a total transaction of $1,306,812.00. Following the completion of the transaction, the executive vice president now owns 21,426 shares of the company’s stock, valued at approximately $3,342,456. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Meghan Fitzgerald sold 20,000 shares of Tenet Healthcare stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total value of $2,926,800.00. Following the sale, the director now directly owns 15,269 shares in the company, valued at approximately $2,234,465.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,203 shares of company stock valued at $19,754,997. 0.93% of the stock is owned by insiders.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.