Saumya Sutaria Sells 86,227 Shares of Tenet Healthcare Co. (NYSE:THC) Stock

Tenet Healthcare Co. (NYSE:THC) 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 $2,126,688.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tenet Healthcare Price Performance

THC stock traded up $1.52 during mid-day trading on Friday, reaching $156.67. The company’s stock had a trading volume of 772,059 shares, compared to its average volume of 1,237,516. The company’s 50 day moving average is $140.29 and its two-hundred day moving average is $117.91. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $157.60. 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 stock has a market cap of $15.30 billion, a PE ratio of 6.08, a P/E/G ratio of 0.76 and a beta of 2.15.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.42. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.98 billion. Equities research analysts expect that Tenet Healthcare Co. will post 10.68 EPS for the current year.

Tenet Healthcare declared that its board has authorized a share buyback program 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 programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

THC has been the topic of several recent research reports. Robert W. Baird initiated coverage on shares of Tenet Healthcare in a report on Thursday, May 30th. They issued an “outperform” rating and a $153.00 price target on the stock. Mizuho reiterated a “buy” rating and issued a $130.00 price objective (up previously from $118.00) on shares of Tenet Healthcare in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Tenet Healthcare from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. UBS Group upped their price objective on shares of Tenet Healthcare from $180.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada upped their price target on shares of Tenet Healthcare from $109.00 to $136.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $152.69.

Hedge Funds Weigh In On Tenet Healthcare

A number of hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Tenet Healthcare by 0.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock worth $1,325,000 after purchasing an additional 90 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Tenet Healthcare by 20.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock worth $74,000 after buying an additional 96 shares in the last quarter. Violich Capital Management Inc. lifted its holdings in Tenet Healthcare by 3.2% during the 1st quarter. Violich Capital Management Inc. now owns 3,380 shares of the company’s stock worth $355,000 after buying an additional 105 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Tenet Healthcare by 17.0% during the 1st quarter. GAMMA Investing LLC now owns 731 shares of the company’s stock worth $77,000 after buying an additional 106 shares in the last quarter. Finally, SummerHaven Investment Management LLC lifted its holdings in Tenet Healthcare by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 8,915 shares of the company’s stock worth $1,186,000 after buying an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

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.