Nisa Investment Advisors LLC Increases Stake in Tenet Healthcare Co. (NYSE:THC)

Nisa Investment Advisors LLC grew its holdings in Tenet Healthcare Co. (NYSE:THC) by 72.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,090 shares of the company’s stock after purchasing an additional 6,759 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Tenet Healthcare were worth $2,674,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of 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 Tenet Healthcare by 74.5% in the first quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company’s stock worth $107,814,000 after purchasing an additional 438,033 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Tenet Healthcare by 7.3% in the 2nd quarter. Marshall Wace LLP now owns 713,979 shares of the company’s stock valued at $94,981,000 after buying an additional 48,626 shares in the last quarter. Farallon Capital Management LLC grew its position in shares of Tenet Healthcare by 7.8% in the 2nd quarter. Farallon Capital Management LLC now owns 687,442 shares of the company’s stock worth $91,450,000 after buying an additional 50,000 shares during the last quarter. Finally, Integral Health Asset Management LLC lifted its position in Tenet Healthcare by 17.6% during the second quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock valued at $66,515,000 after acquiring an additional 75,000 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group upped their price target on Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday. KeyCorp started coverage on Tenet Healthcare in a report on Friday, October 11th. They issued an “overweight” rating and a $200.00 price target for the company. Citigroup increased 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 upped their price target on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, UBS Group upped their target price on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $163.65.

Insider Buying and Selling

In other news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares in the company, valued at $2,427,362.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Meghan Fitzgerald sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were 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 of the company’s stock, valued at $2,234,465.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Y. Foo sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the transaction, the executive vice president now directly owns 15,566 shares in the company, valued at approximately $2,427,362.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,203 shares of company stock valued at $20,378,757. 0.93% of the stock is owned by corporate insiders.

Tenet Healthcare Stock Up 0.7 %

THC stock opened at $156.13 on Friday. The firm’s fifty day moving average is $159.38 and its 200 day moving average is $142.08. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.38 and a current ratio of 1.58. Tenet Healthcare Co. has a one year low of $52.08 and a one year high of $171.20. The firm has a market cap of $14.85 billion, a PE ratio of 5.00, a P/E/G ratio of 0.72 and a beta of 2.14.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.60. The company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. Tenet Healthcare’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.44 earnings per share. On average, research analysts forecast that Tenet Healthcare Co. will post 11.38 EPS for the current year.

Tenet Healthcare declared that its Board of Directors has authorized a stock buyback program on Wednesday, July 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.