Victory Capital Management Inc. Sells 384,922 Shares of Tenet Healthcare Co. (NYSE:THC)

Victory Capital Management Inc. reduced its stake in Tenet Healthcare Co. (NYSE:THC) by 49.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 400,338 shares of the company’s stock after selling 384,922 shares during the period. Victory Capital Management Inc.’s holdings in Tenet Healthcare were worth $30,254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new stake in shares of Tenet Healthcare during the fourth quarter worth $52,000. Sunbelt Securities Inc. bought a new stake in Tenet Healthcare during the 3rd quarter worth $67,000. USA Financial Formulas bought a new position in Tenet Healthcare in the third quarter valued at about $92,000. SG Americas Securities LLC bought a new stake in shares of Tenet Healthcare during the third quarter worth about $152,000. Finally, Neo Ivy Capital Management bought a new position in Tenet Healthcare in the 3rd quarter valued at approximately $155,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on THC. UBS Group boosted their price target on shares of Tenet Healthcare from $137.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company raised their price objective on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $104.00 target price on shares of Tenet Healthcare in a research report on Wednesday, April 10th. Mizuho restated a “buy” rating and issued a $130.00 price target (up from $118.00) on shares of Tenet Healthcare in a report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Tenet Healthcare has a consensus rating of “Buy” and a consensus price target of $113.19.

Tenet Healthcare Stock Up 1.4 %

THC stock opened at $124.10 on Wednesday. The stock’s 50 day moving average is $101.66 and its 200-day moving average is $83.73. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $124.92. The firm has a market capitalization of $12.12 billion, a PE ratio of 4.82, a P/E/G ratio of 1.22 and a beta of 2.09. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.58.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.42 EPS. Sell-side analysts expect that Tenet Healthcare Co. will post 8.73 EPS for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total value of $1,761,569.28. Following the completion of the transaction, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the transaction, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the sale, the director now owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,416 shares of company stock worth $5,890,793. Insiders own 0.93% of the company’s stock.

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.