Huber Capital Management LLC Cuts Position in Tenet Healthcare Co. (NYSE:THC)

Huber Capital Management LLC lessened its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 15.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,501 shares of the company’s stock after selling 1,900 shares during the quarter. Huber Capital Management LLC’s holdings in Tenet Healthcare were worth $1,397,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in THC. Innealta Capital LLC acquired a new position in shares of Tenet Healthcare during the second quarter worth about $28,000. Rise Advisors LLC purchased a new position in shares of Tenet Healthcare in the first quarter valued at $29,000. ORG Partners LLC acquired a new stake in Tenet Healthcare during the 2nd quarter valued at $31,000. Blue Trust Inc. boosted its position in 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 buying an additional 120 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its holdings in Tenet Healthcare by 759.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 361 shares of the company’s stock worth $48,000 after purchasing an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, CEO Saumya Sutaria sold 86,227 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 13,773 shares in the company, valued at $2,126,688.93. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Saumya Sutaria sold 86,227 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total value of $13,314,311.07. Following the completion of the sale, the chief executive officer now owns 13,773 shares of the company’s stock, valued at $2,126,688.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard W. Fisher sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total value of $327,340.00. Following the sale, the director now owns 14,227 shares of the company’s stock, valued at $2,328,533.09. The disclosure for this sale can be found here. Insiders sold a total of 128,203 shares of company stock valued at $19,754,997 in the last three months. 0.93% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on THC. Barclays raised their price target on shares of Tenet Healthcare from $156.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. The Goldman Sachs Group lifted their price objective on shares of Tenet Healthcare from $156.00 to $173.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tenet Healthcare from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Robert W. Baird began coverage on Tenet Healthcare in a report on Thursday, May 30th. They set an “outperform” rating and a $153.00 target price for the company. Finally, StockNews.com upgraded Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 7th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $152.69.

Tenet Healthcare Trading Down 1.3 %

Shares of THC stock opened at $165.10 on Friday. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $167.29. The company has a quick ratio of 1.38, a current ratio of 1.45 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $16.13 billion, a P/E ratio of 6.41, a P/E/G ratio of 0.80 and a beta of 2.14. The stock has a 50-day simple moving average of $153.09 and a 200 day simple moving average of $130.23.

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

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