VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Tenet Healthcare Corporation $THC

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Tenet Healthcare Corporation (NYSE:THC) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 14,271 shares of the company’s stock, valued at approximately $2,512,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. US Bancorp DE lifted its stake in shares of Tenet Healthcare by 0.8% in the 1st quarter. US Bancorp DE now owns 8,620 shares of the company’s stock valued at $1,159,000 after purchasing an additional 68 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Tenet Healthcare by 2.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock valued at $460,000 after purchasing an additional 70 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Tenet Healthcare by 5.3% in the 1st quarter. Lindbrook Capital LLC now owns 1,427 shares of the company’s stock valued at $192,000 after purchasing an additional 72 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Tenet Healthcare by 11.2% in the 2nd quarter. Signaturefd LLC now owns 732 shares of the company’s stock valued at $129,000 after purchasing an additional 74 shares during the last quarter. Finally, Vista Investment Partners LLC lifted its stake in shares of Tenet Healthcare by 0.3% in the 2nd quarter. Vista Investment Partners LLC now owns 25,257 shares of the company’s stock valued at $4,445,000 after purchasing an additional 76 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

THC has been the subject of several analyst reports. KeyCorp lifted their price objective on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Barclays boosted their target price on shares of Tenet Healthcare from $208.00 to $229.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. JPMorgan Chase & Co. boosted their target price on shares of Tenet Healthcare from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Zacks Research lowered shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Tenet Healthcare in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and an average target price of $209.25.

Insider Activity at Tenet Healthcare

In related news, CEO Saumya Sutaria sold 78,762 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total value of $15,026,214.36. Following the sale, the chief executive officer owned 368,683 shares of the company’s stock, valued at $70,337,342.74. The trade was a 17.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christopher S. Lynch sold 3,952 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total transaction of $697,093.28. Following the completion of the sale, the director directly owned 12,358 shares in the company, valued at approximately $2,179,827.62. The trade was a 24.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,722 shares of company stock valued at $17,161,015 over the last quarter. 0.81% of the stock is owned by company insiders.

Tenet Healthcare Stock Up 0.1%

Tenet Healthcare stock opened at $202.35 on Wednesday. The firm has a fifty day moving average price of $190.58 and a two-hundred day moving average price of $168.07. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $207.14. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63. The firm has a market cap of $17.88 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 0.87 and a beta of 1.52.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $1.18. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The company had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The business’s revenue was up 3.2% compared to the same quarter last year. As a group, analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

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.