Foster & Motley Inc. Sells 292 Shares of Tenet Healthcare Co. (NYSE:THC)

Foster & Motley Inc. decreased its position in Tenet Healthcare Co. (NYSE:THC) by 7.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,479 shares of the company’s stock after selling 292 shares during the quarter. Foster & Motley Inc.’s holdings in Tenet Healthcare were worth $578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Asset Management One Co. Ltd. increased its holdings in Tenet Healthcare by 80.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,478 shares of the company’s stock worth $246,000 after acquiring an additional 660 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Tenet Healthcare by 5.9% during the third quarter. QRG Capital Management Inc. now owns 8,318 shares of the company’s stock valued at $1,382,000 after acquiring an additional 462 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in Tenet Healthcare in the 3rd quarter worth approximately $3,599,000. Janney Montgomery Scott LLC boosted its position in shares of Tenet Healthcare by 135.0% during the third quarter. Janney Montgomery Scott LLC now owns 19,478 shares of the company’s stock worth $3,237,000 after acquiring an additional 11,188 shares during the last quarter. Finally, Optas LLC boosted its holdings in shares of Tenet Healthcare by 3.4% during the 3rd quarter. Optas LLC now owns 2,821 shares of the company’s stock valued at $469,000 after purchasing an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Trading Up 5.1 %

Shares of NYSE:THC opened at $168.53 on Friday. The business’s 50-day moving average is $159.44 and its 200 day moving average is $144.02. The firm has a market capitalization of $16.03 billion, a P/E ratio of 5.40, a P/E/G ratio of 0.73 and a beta of 2.15. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. Tenet Healthcare Co. has a 1 year low of $52.08 and a 1 year high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the firm posted $1.44 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, research analysts predict that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Tenet Healthcare announced that its Board of Directors has approved a stock repurchase program on Wednesday, July 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to buy up to 10.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

THC has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on shares of Tenet Healthcare from $195.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group upped their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their target price on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Raymond James upped their price target on shares of Tenet Healthcare from $130.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 25th. Finally, Barclays raised their price objective on Tenet Healthcare from $156.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Tenet Healthcare currently has a consensus rating of “Buy” and a consensus target price of $164.24.

Insider Transactions at Tenet Healthcare

In related news, CEO Saumya Sutaria sold 86,227 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was 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 directly owns 13,773 shares of the company’s stock, valued at $2,126,688.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tenet Healthcare news, CEO Saumya Sutaria sold 86,227 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $154.41, for a total value of $13,314,311.07. Following the completion of the transaction, the chief executive officer now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider R. Scott Ramsey sold 11,599 shares of Tenet Healthcare stock in a transaction dated 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 of the company’s stock, valued at approximately $1,024,867.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,203 shares of company stock worth $17,451,957 over the last 90 days. 0.93% of the stock is currently owned by company insiders.

About Tenet Healthcare

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.