DekaBank Deutsche Girozentrale Sells 1,036 Shares of Tenet Healthcare Co. (NYSE:THC)

DekaBank Deutsche Girozentrale reduced its stake in Tenet Healthcare Co. (NYSE:THC) by 25.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,083 shares of the company’s stock after selling 1,036 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Tenet Healthcare were worth $502,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in Tenet Healthcare by 122.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,009 shares of the company’s stock valued at $1,331,000 after buying an additional 4,414 shares during the last quarter. Allworth Financial LP grew its position in shares of Tenet Healthcare by 186.9% in the third quarter. Allworth Financial LP now owns 14,527 shares of the company’s stock valued at $2,414,000 after purchasing an additional 9,464 shares during the last quarter. Legacy Capital Group California Inc. acquired a new stake in Tenet Healthcare during the 3rd quarter worth approximately $1,055,000. International Assets Investment Management LLC boosted its stake in Tenet Healthcare by 16,520.0% in the 3rd quarter. International Assets Investment Management LLC now owns 18,282 shares of the company’s stock valued at $3,038,000 after purchasing an additional 18,172 shares during the period. Finally, Signaturefd LLC increased its position in Tenet Healthcare by 17.6% during the 3rd quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $104,000 after buying an additional 94 shares during the period. 95.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, 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 value of $2,926,800.00. Following the completion of the sale, the director now owns 15,269 shares of the company’s stock, valued at approximately $2,234,465.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tenet Healthcare news, Director Meghan Fitzgerald sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the completion of the sale, the director now owns 15,269 shares of the company’s stock, valued at approximately $2,234,465.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Saumya Sutaria sold 86,227 shares of the company’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 directly owns 13,773 shares in the company, valued at approximately $2,126,688.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,203 shares of company stock valued at $20,378,757 in the last three months. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Trading Up 0.7 %

Shares of THC stock opened at $156.13 on Friday. The firm has a market capitalization of $14.85 billion, a P/E ratio of 5.00, a P/E/G ratio of 0.69 and a beta of 2.15. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The stock’s fifty day simple moving average is $159.38 and its 200 day simple moving average is $142.08. Tenet Healthcare Co. has a twelve month low of $52.08 and a twelve month high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.33 by $0.60. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company earned $1.44 EPS. As a group, sell-side analysts predict that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

Tenet Healthcare announced 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 repurchase up to 10.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently commented on THC shares. KeyCorp assumed coverage on shares of Tenet Healthcare in a research note on Friday, October 11th. They issued an “overweight” rating and a $200.00 price target on the stock. Wells Fargo & Company raised their target price on shares of Tenet Healthcare from $175.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Royal Bank of Canada boosted their price target on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday. Citigroup lifted their price objective on Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Barclays increased their target price on Tenet Healthcare from $156.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $163.65.

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.