Leuthold Group LLC Sells 128 Shares of Tenet Healthcare Co. (NYSE:THC)

Leuthold Group LLC lowered its position in Tenet Healthcare Co. (NYSE:THC) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 36,087 shares of the company’s stock after selling 128 shares during the quarter. Leuthold Group LLC’s holdings in Tenet Healthcare were worth $5,998,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of Tenet Healthcare by 11.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock valued at $831,947,000 after purchasing an additional 790,684 shares in the last quarter. 8 Knots Management LLC grew its holdings in Tenet Healthcare by 74.5% during the 1st quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company’s stock valued at $107,814,000 after buying an additional 438,033 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Tenet Healthcare by 7,223.1% in the second quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock worth $43,385,000 after buying an additional 321,789 shares in the last quarter. Farallon Capital Management LLC boosted its position in shares of Tenet Healthcare by 70.1% in the first quarter. Farallon Capital Management LLC now owns 637,442 shares of the company’s stock valued at $67,002,000 after acquiring an additional 262,600 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Tenet Healthcare by 344.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock worth $52,718,000 after acquiring an additional 245,875 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total transaction of $327,340.00. Following the transaction, the director now directly owns 14,227 shares of the company’s stock, valued at $2,328,533.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Tenet Healthcare news, Director Meghan Fitzgerald sold 20,000 shares of the stock in a transaction dated 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 transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard W. Fisher sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total value of $327,340.00. Following the sale, the director now owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,203 shares of company stock valued at $19,754,997. 0.93% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on THC shares. The Goldman Sachs Group boosted their price target on shares of Tenet Healthcare from $156.00 to $173.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company boosted their price objective on Tenet Healthcare from $175.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $168.00 target price on shares of Tenet Healthcare in a research report on Tuesday, October 1st. Barclays raised their price objective on shares of Tenet Healthcare from $156.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, UBS Group raised their price target on Tenet Healthcare from $180.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $157.24.

Tenet Healthcare Price Performance

Shares of THC opened at $141.00 on Monday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.38 and a current ratio of 1.45. The firm’s 50-day simple moving average is $159.85 and its two-hundred day simple moving average is $140.77. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $171.20. The stock has a market cap of $13.77 billion, a PE ratio of 5.42, a price-to-earnings-growth ratio of 0.80 and a beta of 2.14.

Tenet Healthcare announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Tenet Healthcare Company 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.