Tenet Healthcare Co. (NYSE:THC) Shares Bought by Bellevue Group AG

by · The Markets Daily

Bellevue Group AG boosted its position in Tenet Healthcare Co. (NYSE:THC – Free Report) by 193.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,244 shares of the company’s stock after purchasing an additional 2,797 shares during the quarter. Bellevue Group AG’s holdings in Tenet Healthcare were worth $446,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of THC. Rise Advisors LLC acquired a new stake in Tenet Healthcare in the first quarter worth about $29,000. GAMMA Investing LLC acquired a new position in shares of Tenet Healthcare during the fourth quarter valued at approximately $52,000. FinTrust Capital Advisors LLC raised its holdings in Tenet Healthcare by 108.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after purchasing an additional 467 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Tenet Healthcare during the 1st quarter valued at $78,000. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Tenet Healthcare during the 4th quarter valued at $151,000. Institutional investors own 95.44% of the company’s stock.

Insider Buying and Selling at Tenet Healthcare

In related news, Director Christopher S. Lynch sold 10,861 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the transaction, the director now owns 14,759 shares of the company’s stock, valued at approximately $1,975,196.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Richard W. Fisher sold 2,500 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $123.20, for a total transaction of $308,000.00. Following the completion of the transaction, the director now directly owns 17,627 shares in the company, valued at $2,171,646.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher S. Lynch sold 10,861 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $133.83, for a total value of $1,453,527.63. Following the completion of the sale, the director now owns 14,759 shares in the company, valued at approximately $1,975,196.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,691 shares of company stock valued at $3,117,909. 0.93% of the stock is currently owned by company insiders.

Tenet Healthcare Price Performance

THC stock traded up $1.39 during midday trading on Monday, reaching $153.02. 615,547 shares of the company’s stock traded hands, compared to its average volume of 1,230,550. The company has a quick ratio of 1.38, a current ratio of 1.45 and a debt-to-equity ratio of 2.53. The company has a market cap of $14.95 billion, a price-to-earnings ratio of 5.97, a PEG ratio of 0.78 and a beta of 2.15. The company has a 50-day simple moving average of $134.97 and a two-hundred day simple moving average of $111.17. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $155.00.

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

Tenet Healthcare declared that its board has authorized a stock repurchase program on Wednesday, July 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

THC has been the topic of a number of research reports. Cantor Fitzgerald boosted their target price on shares of Tenet Healthcare from $112.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. lifted their target price on Tenet Healthcare from $107.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft increased their price target on Tenet Healthcare from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada upped their price objective on shares of Tenet Healthcare from $109.00 to $136.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Finally, Stephens boosted their price target on shares of Tenet Healthcare from $95.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $138.00.

View Our Latest Research Report on Tenet Healthcare

Tenet Healthcare Company Profile

(Free Report)

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.

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