XTX Topco Ltd Makes New Investment in Tenet Healthcare Co. (NYSE:THC)

XTX Topco Ltd purchased a new position in shares of Tenet Healthcare Co. (NYSE:THC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,835 shares of the company’s stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Tenet Healthcare by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock worth $839,613,000 after purchasing an additional 172,913 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 worth $831,947,000 after purchasing an additional 790,684 shares in the last quarter. Glenview Capital Management LLC raised its holdings in shares of Tenet Healthcare by 12.8% in the 4th quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock worth $585,087,000 after purchasing an additional 877,180 shares in the last quarter. Greenlight Capital Inc. raised its holdings in shares of Tenet Healthcare by 44.3% in the 4th 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 in the last quarter. Finally, 8 Knots Management LLC raised its holdings in shares of Tenet Healthcare by 74.5% in the 1st quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company’s stock worth $107,814,000 after purchasing an additional 438,033 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on THC shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tenet Healthcare from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Wells Fargo & Company lifted their target price on shares of Tenet Healthcare from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Citigroup lifted their target price on shares of Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. The Goldman Sachs Group lifted their target price on shares of Tenet Healthcare from $156.00 to $173.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Raymond James lifted their target price on shares of Tenet Healthcare from $130.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. 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. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $152.69.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $163.22 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.38 and a debt-to-equity ratio of 2.53. The firm has a fifty day simple moving average of $156.42 and a 200-day simple moving average of $132.85. The stock has a market capitalization of $15.64 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 0.86 and a beta of 2.14. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.42. The business had revenue of $5.10 billion during 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 10.72 earnings per share for the current year.

Tenet Healthcare announced that its Board of Directors has initiated a share repurchase program on Wednesday, July 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to buy up to 10.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Tenet Healthcare

In other news, Director Meghan Fitzgerald sold 20,000 shares of the stock in a transaction on 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 transaction, the director now owns 15,269 shares in the company, valued at approximately $2,234,465.46. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider R. Scott Ramsey sold 11,599 shares of the 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 in the company, valued at approximately $1,024,867.44. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Meghan Fitzgerald sold 20,000 shares of the 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 sale, the director now owns 15,269 shares of the company’s stock, valued at approximately $2,234,465.46. 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 ninety days. Company insiders own 0.93% of the company’s stock.

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.