MidWestOne Financial Group Inc. Has $1.38 Million Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

MidWestOne Financial Group Inc. lowered its position in Tenet Healthcare Co. (NYSE:THC) by 19.2% during the 2nd quarter, Holdings Channel reports. The fund owned 10,373 shares of the company’s stock after selling 2,472 shares during the period. MidWestOne Financial Group Inc.’s holdings in Tenet Healthcare were worth $1,380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of THC. Glenview Capital Management LLC raised its holdings in Tenet Healthcare by 12.8% during the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock worth $585,087,000 after buying an additional 877,180 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Tenet Healthcare by 11.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock valued at $831,947,000 after acquiring an additional 790,684 shares in the last quarter. 8 Knots Management LLC bought a new stake in Tenet Healthcare during the 4th quarter worth approximately $44,412,000. Greenlight Capital Inc. raised its stake in shares of Tenet Healthcare by 44.3% in the fourth quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock worth $99,448,000 after purchasing an additional 404,190 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Tenet Healthcare by 7,223.1% during the second quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock valued at $43,385,000 after buying an additional 321,789 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on THC shares. Truist Financial reissued a “buy” rating and set a $170.00 price target (up from $155.00) on shares of Tenet Healthcare in a research report on Thursday, July 25th. The Goldman Sachs Group upped their target price on Tenet Healthcare from $156.00 to $173.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. StockNews.com upgraded Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Friday, June 7th. Citigroup upped their price objective on Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Barclays boosted their target price on Tenet Healthcare from $156.00 to $171.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $152.69.

Insider Activity at Tenet Healthcare

In other 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 sale, 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 document filed with the SEC, which is accessible through this link. In related news, CEO Saumya Sutaria sold 86,227 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 13,773 shares in the company, valued at approximately $2,126,688.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard W. Fisher sold 2,000 shares of Tenet Healthcare stock in a transaction on Tuesday, August 27th. The shares were 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 of the company’s stock, valued at approximately $2,328,533.09. The disclosure for this sale can be found here. Insiders have sold 128,203 shares of company stock worth $19,754,997 over the last ninety days. 0.93% of the stock is owned by corporate insiders.

Tenet Healthcare Trading Down 1.1 %

Shares of THC opened at $163.13 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.45 and a debt-to-equity ratio of 2.53. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $171.20. The stock has a market capitalization of $15.63 billion, a P/E ratio of 6.33, a PEG ratio of 0.86 and a beta of 2.14. The firm has a fifty day simple moving average of $156.42 and a two-hundred day simple moving average of $132.62.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Wednesday, July 24th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.42. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $4.98 billion. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. On average, research analysts anticipate that Tenet Healthcare Co. will post 10.72 EPS for the current year.

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