Hancock Whitney Corp Sells 372 Shares of Tenet Healthcare Co. (NYSE:THC)

Hancock Whitney Corp trimmed its position in Tenet Healthcare Co. (NYSE:THC) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,975 shares of the company’s stock after selling 372 shares during the quarter. Hancock Whitney Corp’s holdings in Tenet Healthcare were worth $4,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC bought a new position in shares of Tenet Healthcare during the 1st quarter worth about $29,000. GAMMA Investing LLC bought a new stake in shares of Tenet Healthcare in the 4th quarter worth approximately $52,000. Fidelis Capital Partners LLC bought a new stake in shares of Tenet Healthcare during the first quarter valued at approximately $78,000. FinTrust Capital Advisors LLC increased its stake in Tenet Healthcare by 108.6% in the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock valued at $68,000 after acquiring an additional 467 shares during the period. Finally, Bellevue Group AG lifted its holdings in shares of Tenet Healthcare by 106.7% during the fourth quarter. Bellevue Group AG now owns 1,447 shares of the company’s stock valued at $109,000 after acquiring an additional 747 shares during the period. Institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Tenet Healthcare from $156.00 to $173.00 and gave the company a “buy” rating in a research report on Tuesday. Raymond James raised their price target on shares of Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. StockNews.com raised Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 7th. Robert W. Baird assumed coverage on Tenet Healthcare in a report on Thursday, May 30th. They issued an “outperform” rating and a $153.00 price objective for the company. Finally, Stephens increased their price target on shares of Tenet Healthcare from $95.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $146.71.

Insider Buying and Selling

In other news, Director Richard W. Fisher sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $132.24, for a total transaction of $185,136.00. Following the completion of the sale, the director now owns 16,227 shares of the company’s stock, valued at approximately $2,145,858.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tenet Healthcare news, Director Richard W. Fisher sold 1,400 shares of Tenet Healthcare stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $132.24, for a total transaction of $185,136.00. Following the transaction, the director now owns 16,227 shares of the company’s stock, valued at approximately $2,145,858.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard W. Fisher sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $123.20, for a total value of $308,000.00. Following the sale, the director now directly owns 17,627 shares of the company’s stock, valued at $2,171,646.40. The disclosure for this sale can be found here. Insiders sold 16,543 shares of company stock valued at $2,171,926 over the last 90 days. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Price Performance

THC stock traded down $1.92 during mid-day trading on Thursday, hitting $147.78. The stock had a trading volume of 608,267 shares, compared to its average volume of 1,238,070. Tenet Healthcare Co. has a 52 week low of $51.04 and a 52 week high of $155.00. The firm has a fifty day simple moving average of $136.19 and a 200 day simple moving average of $112.42. 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 market capitalization of $14.44 billion, a P/E ratio of 5.89, a P/E/G ratio of 0.77 and a beta of 2.15.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the prior year, the company earned $1.42 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts forecast that Tenet Healthcare Co. will post 10.68 EPS for the current year.

Tenet Healthcare declared that its board has authorized a share buyback plan on Wednesday, July 24th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to buy up to 10.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership 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.