6,022 Shares in Tenet Healthcare Co. (NYSE:THC) Bought by Petra Financial Advisors Inc.

Petra Financial Advisors Inc. acquired a new stake in Tenet Healthcare Co. (NYSE:THC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,022 shares of the company’s stock, valued at approximately $1,001,000.

Other large investors have also recently made changes to their positions in the company. State of Michigan Retirement System increased its position in shares of Tenet Healthcare by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 24,893 shares of the company’s stock valued at $2,617,000 after purchasing an additional 500 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new stake in Tenet Healthcare during the 1st quarter worth about $254,000. Retirement Systems of Alabama boosted its position in shares of Tenet Healthcare by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 127,523 shares of the company’s stock worth $13,404,000 after acquiring an additional 334 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 acquiring an additional 90 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Tenet Healthcare by 113.5% in the first quarter. BNP Paribas Financial Markets now owns 54,878 shares of the company’s stock valued at $5,768,000 after purchasing an additional 29,172 shares in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Meghan Fitzgerald sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total value of $2,926,800.00. Following the sale, the director now owns 15,269 shares of the company’s stock, valued at approximately $2,234,465.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Saumya Sutaria sold 86,227 shares of Tenet Healthcare stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 13,773 shares in the company, valued at $2,126,688.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Meghan Fitzgerald sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the completion of the transaction, the director now owns 15,269 shares in the company, valued at approximately $2,234,465.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,203 shares of company stock worth $19,754,997. 0.93% of the stock is owned by company insiders.

Tenet Healthcare Stock Performance

NYSE THC traded down $2.06 on Thursday, hitting $156.02. 207,616 shares of the company’s stock were exchanged, compared to its average volume of 1,204,729. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.45 and a quick ratio of 1.38. The firm’s 50-day moving average price is $159.66 and its two-hundred day moving average price is $141.59. The firm has a market cap of $14.95 billion, a price-to-earnings ratio of 5.80, a P/E/G ratio of 0.71 and a beta of 2.14. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter last year, the company earned $1.44 earnings per share. Tenet Healthcare’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, research analysts expect that Tenet Healthcare Co. will post 10.72 EPS for the current year.

Tenet Healthcare declared that its Board of Directors has authorized a share repurchase program on Wednesday, July 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to buy up to 10.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

THC has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group boosted their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays lifted their target price on Tenet Healthcare from $156.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. The Goldman Sachs Group raised their price target on Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, KeyCorp began coverage on Tenet Healthcare in a report on Friday, October 11th. They issued an “overweight” rating and a $200.00 price objective for the company. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $163.65.

Tenet Healthcare 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.