Tenet Healthcare Co. (NYSE:THC) Shares Sold by Columbus Hill Capital Management L.P.

Columbus Hill Capital Management L.P. reduced its position in shares of Tenet Healthcare Co. (NYSE:THC) by 58.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 132,900 shares of the company’s stock after selling 184,903 shares during the quarter. Tenet Healthcare accounts for 3.6% of Columbus Hill Capital Management L.P.’s holdings, making the stock its 13th largest holding. Columbus Hill Capital Management L.P.’s holdings in Tenet Healthcare were worth $17,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of THC. Innealta Capital LLC purchased a new position in shares of Tenet Healthcare during the 2nd quarter worth $28,000. ORG Partners LLC acquired a new stake in Tenet Healthcare in the 2nd quarter worth about $31,000. Blue Trust Inc. grew its holdings 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 period. Rise Advisors LLC purchased a new position in shares of Tenet Healthcare during the 1st quarter worth about $29,000. Finally, Capital Advisors Ltd. LLC grew its holdings in Tenet Healthcare by 759.5% in the second quarter. Capital Advisors Ltd. LLC now owns 361 shares of the company’s stock valued at $48,000 after purchasing an additional 319 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on THC shares. StockNews.com upgraded shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Friday, June 7th. The Goldman Sachs Group boosted their price target on Tenet Healthcare from $156.00 to $173.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Baird R W raised Tenet Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. increased their target price on shares of Tenet Healthcare from $107.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Barclays boosted their price objective on shares of Tenet Healthcare from $156.00 to $171.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. One equities 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.com, Tenet Healthcare has a consensus rating of “Buy” and a consensus target price of $152.69.

Insider Transactions at Tenet Healthcare

In related news, Director Meghan Fitzgerald sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 15,269 shares of the company’s stock, valued at $2,234,465.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Tenet Healthcare news, CEO Saumya Sutaria sold 86,227 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the completion of the sale, the chief executive officer now owns 13,773 shares in the company, valued at $2,126,688.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Meghan Fitzgerald sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the completion of the transaction, the director now owns 15,269 shares in the company, valued at $2,234,465.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,203 shares of company stock valued at $19,754,997. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Trading Down 1.3 %

NYSE:THC opened at $165.10 on Friday. Tenet Healthcare Co. has a one year low of $51.04 and a one year high of $167.29. The business’s 50-day simple moving average is $152.47 and its 200 day simple moving average is $129.74. 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 stock has a market cap of $16.13 billion, a price-to-earnings ratio of 6.41, a price-to-earnings-growth ratio of 0.80 and a beta of 2.14.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.31 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $4.98 billion. As a group, sell-side analysts predict that Tenet Healthcare Co. will post 10.7 earnings per share for the current fiscal year.

Tenet Healthcare declared that its board has approved a stock buyback plan on Wednesday, July 24th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to purchase up to 10.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.