Evergreen Capital Management LLC Invests $222,000 in Tenet Healthcare Co. (NYSE:THC)

Evergreen Capital Management LLC bought a new position in shares of Tenet Healthcare Co. (NYSE:THC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,666 shares of the company’s stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in THC. Glenview Capital Management LLC lifted its stake in 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 purchasing an additional 877,180 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Tenet Healthcare by 11.1% during the 1st 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 in the last quarter. 8 Knots Management LLC acquired a new position in shares of Tenet Healthcare in the 4th quarter worth $44,412,000. Greenlight Capital Inc. raised its position in shares of Tenet Healthcare by 44.3% during the fourth quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock worth $99,448,000 after purchasing an additional 404,190 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Tenet Healthcare by 7,223.1% in the 2nd quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock valued at $43,385,000 after purchasing an additional 321,789 shares during the period. 95.44% of the stock is owned by institutional investors.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total transaction of $327,340.00. Following the completion of the transaction, the director now owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Richard W. Fisher sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total value of $327,340.00. Following the completion of the sale, the director now directly owns 14,227 shares of the company’s stock, valued at $2,328,533.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Saumya Sutaria sold 86,227 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the transaction, the chief executive officer now owns 13,773 shares of the company’s stock, valued at $2,126,688.93. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,203 shares of company stock worth $19,754,997. 0.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on THC shares. Citigroup upped their price objective on shares of Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tenet Healthcare from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $168.00 target price on shares of Tenet Healthcare in a report on Monday, August 19th. UBS Group upped 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. Finally, Raymond James lifted their target price on Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $152.69.

Tenet Healthcare Stock Down 1.0 %

THC stock opened at $163.22 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.38 and a debt-to-equity ratio of 2.53. The firm has a market cap of $15.64 billion, a PE ratio of 6.33, a PEG ratio of 0.86 and a beta of 2.14. Tenet Healthcare Co. has a 1 year low of $51.04 and a 1 year high of $171.20. The company has a fifty day simple moving average of $156.42 and a 200 day simple moving average of $132.85.

Tenet Healthcare (NYSE:THC) last issued 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 for the quarter, compared to analyst estimates of $4.98 billion. Sell-side analysts anticipate that Tenet Healthcare Co. will post 10.72 EPS for the current fiscal year.

Tenet Healthcare announced that its Board of Directors has approved a share buyback program on Wednesday, July 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to buy up to 10.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are 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.