Tenet Healthcare Co. (NYSE:THC) Position Raised by Savant Capital LLC

Savant Capital LLC grew its position in shares of Tenet Healthcare Co. (NYSE:THC) by 65.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,522 shares of the company’s stock after purchasing an additional 2,979 shares during the quarter. Savant Capital LLC’s holdings in Tenet Healthcare were worth $1,001,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Foster & Motley Inc. grew its position in Tenet Healthcare by 5.5% in the second quarter. Foster & Motley Inc. now owns 3,771 shares of the company’s stock worth $502,000 after buying an additional 195 shares during the last quarter. Range Financial Group LLC acquired a new stake in shares of Tenet Healthcare during the second quarter worth $866,000. TD Asset Management Inc lifted its holdings in shares of Tenet Healthcare by 22.6% during the second quarter. TD Asset Management Inc now owns 144,654 shares of the company’s stock valued at $19,243,000 after purchasing an additional 26,698 shares during the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in Tenet Healthcare in the 2nd quarter worth about $402,000. Finally, Versor Investments LP purchased a new stake in Tenet Healthcare during the second quarter valued at about $1,543,000. Institutional investors own 95.44% of the company’s stock.

Insider Buying and Selling at Tenet Healthcare

In other news, insider R. Scott Ramsey sold 11,599 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total value of $1,879,733.94. Following the sale, the insider now owns 6,324 shares in the company, valued at $1,024,867.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Richard W. Fisher sold 2,000 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total transaction of $327,340.00. Following the sale, the director now owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total value of $1,879,733.94. Following the completion of the transaction, the insider now owns 6,324 shares of the company’s stock, valued at $1,024,867.44. The disclosure for this sale can be found here. Insiders have sold 128,203 shares of company stock valued at $19,754,997 in the last 90 days. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Stock Up 2.0 %

THC opened at $157.66 on Thursday. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $166.89. 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 business has a 50 day moving average price of $148.91 and a 200 day moving average price of $127.07. The firm has a market cap of $15.40 billion, a P/E ratio of 6.12, a price-to-earnings-growth ratio of 0.78 and a beta of 2.14.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Wednesday, July 24th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.42. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $4.98 billion. Research analysts forecast that Tenet Healthcare Co. will post 10.7 EPS for the current year.

Tenet Healthcare announced that its board has authorized a share repurchase plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Tenet Healthcare from $156.00 to $173.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Citigroup raised their target price on Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Robert W. Baird started coverage on Tenet Healthcare in a research note on Thursday, May 30th. They issued an “outperform” rating and a $153.00 price objective for the company. Raymond James lifted their target price on Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company raised their price target on shares of Tenet Healthcare from $145.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. One investment 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, the company currently has an average rating of “Buy” and an average target price of $152.69.

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.