Innealta Capital LLC Takes $28,000 Position in Tenet Healthcare Co. (NYSE:THC)

Innealta Capital LLC bought a new stake in shares of Tenet Healthcare Co. (NYSE:THC) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 212 shares of the company’s stock, valued at approximately $28,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ORG Partners LLC acquired a new position in shares of Tenet Healthcare during the second quarter worth approximately $31,000. Blue Trust Inc. boosted its position in Tenet Healthcare by 93.0% during the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company’s stock worth $33,000 after acquiring an additional 120 shares during the period. Rise Advisors LLC bought a new stake in shares of Tenet Healthcare during the first quarter valued at about $29,000. Capital Advisors Ltd. LLC grew its position in Tenet Healthcare by 759.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 361 shares of the company’s stock valued at $48,000 after buying an additional 319 shares in the last quarter. Finally, Versant Capital Management Inc bought a new stake in shares of Tenet Healthcare during the 2nd quarter worth about $71,000. Institutional investors own 95.44% of the company’s stock.

Insiders Place Their Bets

In related news, Director Meghan Fitzgerald sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 15,269 shares of the company’s stock, valued at approximately $2,234,465.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Saumya Sutaria sold 86,227 shares of Tenet Healthcare stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $154.41, for a total value of $13,314,311.07. Following the transaction, the chief executive officer now owns 13,773 shares in the company, valued at approximately $2,126,688.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Meghan Fitzgerald sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 15,269 shares in the company, valued at $2,234,465.46. The disclosure for this sale can be found here. Insiders sold 118,004 shares of company stock valued at $18,060,399 over the last quarter. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Up 0.7 %

THC opened at $165.85 on Friday. The business has a 50-day moving average of $145.14 and a 200-day moving average of $123.03. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $166.08. The company has a market capitalization of $16.20 billion, a PE ratio of 6.44, a price-to-earnings-growth ratio of 0.76 and a beta of 2.15. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.45 and a quick ratio of 1.38.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Wednesday, July 24th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.89 by $0.42. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $4.98 billion. Equities research analysts forecast that Tenet Healthcare Co. will post 10.68 EPS for the current fiscal year.

Tenet Healthcare declared that its Board of Directors has approved a stock buyback program on Wednesday, July 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms recently commented on THC. Raymond James raised their price objective on shares of Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Baird R W upgraded Tenet Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $168.00 target price on shares of Tenet Healthcare in a report on Monday, August 19th. UBS Group raised their price objective on shares of Tenet Healthcare from $180.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Tenet Healthcare from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, June 28th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $152.69.

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.