Hamilton Wealth LLC Purchases Shares of 4,466 Tenet Healthcare Co. (NYSE:THC)

Hamilton Wealth LLC bought a new stake in shares of Tenet Healthcare Co. (NYSE:THC) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 4,466 shares of the company’s stock, valued at approximately $469,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $29,000. GAMMA Investing LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at $52,000. FinTrust Capital Advisors LLC grew its holdings in shares of Tenet Healthcare by 108.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after purchasing an additional 467 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Tenet Healthcare during the 1st quarter valued at about $78,000. Finally, Bellevue Group AG boosted its position in Tenet Healthcare by 106.7% in the fourth quarter. Bellevue Group AG now owns 1,447 shares of the company’s stock valued at $109,000 after buying an additional 747 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 4.2 %

Shares of NYSE:THC traded down $6.20 during midday trading on Friday, reaching $141.75. 1,610,140 shares of the company were exchanged, compared to its average volume of 1,443,890. The firm has a market cap of $13.58 billion, a PE ratio of 5.50, a P/E/G ratio of 0.76 and a beta of 2.15. The company has a quick ratio of 1.38, a current ratio of 1.45 and a debt-to-equity ratio of 2.53. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $155.00. The stock has a fifty day simple moving average of $136.79 and a two-hundred day simple moving average of $113.09.

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

Tenet Healthcare declared that its Board of Directors has authorized a stock buyback plan on Wednesday, July 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

THC has been the topic of several recent analyst reports. Cantor Fitzgerald boosted their target price on Tenet Healthcare from $112.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Raymond James raised their target price on Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Friday, June 7th. JPMorgan Chase & Co. boosted their target price on shares of Tenet Healthcare from $107.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, Citigroup raised their price target on shares of Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare currently has a consensus rating of “Buy” and an average price target of $149.75.

Insider Activity at Tenet Healthcare

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