KBC Group NV Has $947,000 Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

KBC Group NV increased its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 54.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,698 shares of the company’s stock after acquiring an additional 2,014 shares during the quarter. KBC Group NV’s holdings in Tenet Healthcare were worth $947,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in Tenet Healthcare in the second quarter valued at $28,000. Plato Investment Management Ltd acquired a new position in shares of Tenet Healthcare in the third quarter worth approximately $28,000. ORG Wealth Partners LLC acquired a new stake in Tenet Healthcare during the 3rd quarter valued at approximately $30,000. ORG Partners LLC bought a new position in Tenet Healthcare during the 2nd quarter worth approximately $31,000. Finally, Blue Trust Inc. boosted its stake in shares of Tenet Healthcare by 93.0% in the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company’s stock valued at $33,000 after purchasing an additional 120 shares during the last quarter. 95.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Richard W. Fisher sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total value of $327,340.00. Following the transaction, the director now owns 14,227 shares in the company, valued at approximately $2,328,533.09. This represents a 12.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa Y. Foo sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the sale, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,599 shares of company stock worth $2,830,834. 0.93% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on THC shares. UBS Group boosted their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup upped their target price on Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Truist Financial reissued a “buy” rating and issued a $190.00 price target (up from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on shares of Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Raymond James increased 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 note on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $170.38.

Tenet Healthcare Trading Down 1.2 %

NYSE THC opened at $153.45 on Tuesday. Tenet Healthcare Co. has a 12 month low of $62.70 and a 12 month high of $171.20. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $14.59 billion, a P/E ratio of 4.92, a PEG ratio of 0.70 and a beta of 2.15. The business has a fifty day simple moving average of $159.58 and a 200 day simple moving average of $147.46.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the company earned $1.44 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts predict that Tenet Healthcare Co. will post 11.37 EPS for the current fiscal year.

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

About Tenet Healthcare

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.