Atlas Capital Advisors LLC Sells 452 Shares of Tenet Healthcare Co. (NYSE:THC)

Atlas Capital Advisors LLC reduced its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 5.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 8,420 shares of the company’s stock after selling 452 shares during the period. Atlas Capital Advisors LLC’s holdings in Tenet Healthcare were worth $1,120,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Tenet Healthcare in the fourth quarter worth approximately $78,254,000. Glenview Capital Management LLC increased its stake in shares of Tenet Healthcare by 12.8% during the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock valued at $585,087,000 after buying an additional 877,180 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in 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 worth $831,947,000 after acquiring an additional 790,684 shares during the period. 8 Knots Management LLC bought a new position in Tenet Healthcare during the 4th quarter worth about $44,412,000. Finally, Wedge Capital Management L L P NC raised its holdings in shares of Tenet Healthcare by 1,265.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 468,158 shares of the company’s stock valued at $49,208,000 after purchasing an additional 433,877 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on THC shares. Raymond James lifted their price objective on shares of Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Citigroup upped their price objective on Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $168.00 target price on shares of Tenet Healthcare in a research note on Monday, August 19th. StockNews.com raised Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 7th. Finally, UBS Group upped their target price 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 issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $152.69.

Tenet Healthcare Price Performance

Shares of THC stock traded up $1.18 during mid-day trading on Friday, hitting $165.85. 651,305 shares of the stock were exchanged, compared to its average volume of 1,204,352. 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 52-week low of $51.04 and a 52-week high of $166.08. The firm has a fifty day moving average of $145.14 and a 200 day moving average of $123.03. The company has a market cap of $16.20 billion, a PE ratio of 6.44, a price-to-earnings-growth ratio of 0.76 and a beta of 2.15.

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

Tenet Healthcare announced that its board has authorized a stock repurchase plan on Wednesday, July 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Tenet Healthcare 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 transaction of $185,136.00. Following the completion of the transaction, the director now owns 16,227 shares of the company’s stock, valued at $2,145,858.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tenet Healthcare news, Director Meghan Fitzgerald sold 20,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $146.34, for a total value of $2,926,800.00. Following the completion of the sale, the director now owns 15,269 shares in the company, valued at approximately $2,234,465.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard W. Fisher sold 1,400 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 16,227 shares in the company, valued at approximately $2,145,858.48. The disclosure for this sale can be found here. Insiders have sold a total of 118,004 shares of company stock worth $18,060,399 over the last 90 days. 0.93% of the stock is currently owned by company 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.