Tenet Healthcare Co. (NYSE:THC) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC lessened its position in shares of Tenet Healthcare Co. (NYSE:THC) by 95.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,403 shares of the company’s stock after selling 89,561 shares during the quarter. Bleakley Financial Group LLC’s holdings in Tenet Healthcare were worth $732,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in THC. Price T Rowe Associates Inc. MD increased its holdings in shares of Tenet Healthcare by 11.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock valued at $831,947,000 after acquiring an additional 790,684 shares during the period. 8 Knots Management LLC raised its holdings in shares of Tenet Healthcare by 74.5% in the first quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company’s stock valued at $107,814,000 after buying an additional 438,033 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Tenet Healthcare by 7,223.1% during the second quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock worth $43,385,000 after buying an additional 321,789 shares during the last quarter. Farallon Capital Management LLC raised its stake in Tenet Healthcare by 70.1% during the 1st quarter. Farallon Capital Management LLC now owns 637,442 shares of the company’s stock valued at $67,002,000 after acquiring an additional 262,600 shares during the last quarter. Finally, Kingdon Capital Management L.L.C. grew its stake in shares of Tenet Healthcare by 335.8% in the 1st quarter. Kingdon Capital Management L.L.C. now owns 278,700 shares of the company’s stock valued at $29,294,000 after purchasing an additional 214,750 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total transaction of $327,340.00. Following the completion of the transaction, the director now owns 14,227 shares of the company’s stock, valued at $2,328,533.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Richard W. Fisher sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total transaction of $327,340.00. Following the completion of the sale, the director now directly owns 14,227 shares of the company’s stock, valued at $2,328,533.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Meghan Fitzgerald sold 20,000 shares of Tenet Healthcare stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $146.34, for a total value of $2,926,800.00. Following the completion of the transaction, the director now owns 15,269 shares in the company, valued at $2,234,465.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,203 shares of company stock worth $19,754,997. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Stock Down 2.5 %

THC opened at $159.73 on Tuesday. The business’s fifty day simple moving average is $159.94 and its 200 day simple moving average is $138.96. Tenet Healthcare Co. has a 52 week low of $51.04 and a 52 week high of $171.20. The firm has a market cap of $15.60 billion, a P/E ratio of 6.20, a PEG ratio of 0.78 and a beta of 2.14. The company has a quick ratio of 1.38, a current ratio of 1.45 and a debt-to-equity ratio of 2.53.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.42. The business had revenue of $5.10 billion during the quarter, compared to analyst estimates 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 anticipate that Tenet Healthcare Co. will post 10.73 EPS for the current fiscal year.

Tenet Healthcare announced that its board has initiated a stock repurchase program on Wednesday, July 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on THC. Citigroup lifted their price objective on shares of Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $168.00 price target on shares of Tenet Healthcare in a report on Tuesday, October 1st. Truist Financial boosted their target price on Tenet Healthcare from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Barclays lifted their price target on Tenet Healthcare from $156.00 to $171.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Raymond James boosted their target price on shares of Tenet Healthcare from $130.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Buy” and a consensus target price of $156.06.

Tenet Healthcare 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.