Tenet Healthcare Co. (NYSE:THC) Shares Sold by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. cut its holdings in Tenet Healthcare Co. (NYSE:THC) by 52.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,804 shares of the company’s stock after selling 9,792 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Tenet Healthcare were worth $1,171,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in THC. ORG Partners LLC acquired a new stake in Tenet Healthcare during the second quarter valued at approximately $31,000. Blue Trust Inc. lifted its position in shares of Tenet Healthcare by 93.0% during the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company’s stock valued at $33,000 after acquiring an additional 120 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Tenet Healthcare during the 1st quarter worth $29,000. Versant Capital Management Inc acquired a new stake in shares of Tenet Healthcare during the second quarter worth $71,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Tenet Healthcare during the fourth quarter valued at $52,000. Institutional investors own 95.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on THC shares. StockNews.com upgraded Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Friday, June 7th. UBS Group raised their price objective on shares of Tenet Healthcare from $180.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group boosted their target price on shares of Tenet Healthcare from $156.00 to $173.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Citigroup raised their target price on Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Truist Financial reissued a “buy” rating and issued a $170.00 price objective (up from $155.00) on shares of Tenet Healthcare in a research note on Thursday, July 25th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $152.69.

Tenet Healthcare Stock Up 1.9 %

Shares of Tenet Healthcare stock traded up $3.01 during trading on Wednesday, hitting $158.23. 666,496 shares of the stock traded hands, compared to its average volume of 1,229,227. The company has a fifty day moving average price of $141.04 and a two-hundred day moving average price of $119.34. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $158.48. The stock has a market cap of $15.46 billion, a P/E ratio of 6.14, a PEG ratio of 0.76 and a beta of 2.15. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.38 and a current ratio of 1.45.

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

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

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Paola M. Arbour sold 8,377 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $156.00, for a total value of $1,306,812.00. Following the completion of the sale, the executive vice president now owns 21,426 shares of the company’s stock, valued at $3,342,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Richard W. Fisher sold 1,400 shares of Tenet Healthcare stock in a transaction on Monday, June 10th. The shares were sold at an average price of $132.24, for a total value of $185,136.00. Following the transaction, the director now owns 16,227 shares in the company, valued at approximately $2,145,858.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paola M. Arbour sold 8,377 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $156.00, for a total transaction of $1,306,812.00. Following the sale, the executive vice president now owns 21,426 shares of the company’s stock, valued at $3,342,456. The disclosure for this sale can be found here. Insiders have sold 126,865 shares of company stock valued at $19,186,587 over the last three months. 0.93% of the stock is currently owned by insiders.

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.