Leith Wheeler Investment Counsel Ltd. acquired a new position in shares of Tenet Healthcare Co. (NYSE:THC – Get Rating) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 41,125 shares of the company's stock, valued at approximately $2,783,000.
A number of other institutional investors have also made changes to their positions in the stock. Savant Capital LLC grew its stake in shares of Tenet Healthcare by 3.5% during the first quarter. Savant Capital LLC now owns 4,785 shares of the company's stock worth $411,000 after purchasing an additional 161 shares during the period. US Bancorp DE lifted its holdings in Tenet Healthcare by 14.6% during the first quarter. US Bancorp DE now owns 1,428 shares of the company's stock worth $123,000 after acquiring an additional 182 shares in the last quarter. Versor Investments LP lifted its holdings in Tenet Healthcare by 7.3% during the first quarter. Versor Investments LP now owns 3,862 shares of the company's stock worth $332,000 after acquiring an additional 262 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Tenet Healthcare by 33.5% during the first quarter. Captrust Financial Advisors now owns 1,141 shares of the company's stock worth $98,000 after acquiring an additional 286 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Tenet Healthcare by 6.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 6,472 shares of the company's stock worth $563,000 after acquiring an additional 372 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.
Get Tenet Healthcare alerts:Wall Street Analysts Forecast Growth
A number of analysts have recently commented on THC shares. Mizuho boosted their price target on Tenet Healthcare from $63.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, August 2nd. Deutsche Bank Aktiengesellschaft cut their price target on Tenet Healthcare from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, July 7th. Truist Financial boosted their price target on Tenet Healthcare from $75.00 to $80.00 and gave the company a "buy" rating in a report on Monday, July 25th. TheStreet lowered Tenet Healthcare from a "b-" rating to a "c+" rating in a report on Friday, July 22nd. Finally, The Goldman Sachs Group dropped their target price on Tenet Healthcare from $108.00 to $93.00 and set a "buy" rating on the stock in a report on Tuesday, July 12th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $92.69.
Insider Buying and Selling
In related news, Director J Robert Kerrey sold 36,766 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $65.56, for a total transaction of $2,410,378.96. Following the sale, the director now owns 48,798 shares of the company's stock, valued at $3,199,196.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director J Robert Kerrey sold 36,766 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $65.56, for a total transaction of $2,410,378.96. Following the sale, the director now owns 48,798 shares of the company's stock, valued at $3,199,196.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard W. Fisher sold 7,439 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $62.92, for a total value of $468,061.88. Following the sale, the director now directly owns 34,362 shares in the company, valued at approximately $2,162,057.04. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.Tenet Healthcare Stock Performance
Shares of NYSE THC traded down $2.65 during trading hours on Thursday, reaching $53.10. 37,344 shares of the stock were exchanged, compared to its average volume of 1,216,373. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 6.93, a P/E/G ratio of 1.05 and a beta of 2.45. The company has a debt-to-equity ratio of 7.07, a quick ratio of 1.30 and a current ratio of 1.39. Tenet Healthcare Co. has a 52 week low of $50.37 and a 52 week high of $92.65. The stock's fifty day simple moving average is $61.17 and its 200 day simple moving average is $68.24.
Tenet Healthcare (NYSE:THC – Get Rating) last announced its earnings results on Thursday, July 21st. The company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.10. Tenet Healthcare had a return on equity of 45.10% and a net margin of 4.58%. During the same quarter last year, the company earned $1.59 EPS. Sell-side analysts predict that Tenet Healthcare Co. will post 6.47 EPS for the current year.
About Tenet Healthcare
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Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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