Atria Investments Inc Acquires 935 Shares of Tenet Healthcare Co. (NYSE:THC)

Atria Investments Inc boosted its holdings in Tenet Healthcare Co. (NYSE:THC) by 31.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,871 shares of the company’s stock after purchasing an additional 935 shares during the period. Atria Investments Inc’s holdings in Tenet Healthcare were worth $643,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in THC. Legacy Capital Group California Inc. acquired a new position in Tenet Healthcare during the third quarter worth approximately $1,055,000. Diversified Trust Co bought a new stake in shares of Tenet Healthcare during the 2nd quarter worth about $558,000. O Shaughnessy Asset Management LLC grew its stake in Tenet Healthcare by 31.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 28,171 shares of the company’s stock valued at $2,961,000 after buying an additional 6,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Tenet Healthcare by 124.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,787 shares of the company’s stock worth $1,701,000 after purchasing an additional 7,078 shares during the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of Tenet Healthcare during the second quarter worth $477,000. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Trading Down 0.1 %

NYSE:THC opened at $153.35 on Wednesday. The firm has a market cap of $14.58 billion, a P/E ratio of 4.91, a P/E/G ratio of 0.70 and a beta of 2.15. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. Tenet Healthcare Co. has a one year low of $62.70 and a one year high of $171.20. The firm has a 50-day simple moving average of $159.55 and a 200-day simple moving average of $147.69.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the prior year, the business posted $1.44 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts anticipate that Tenet Healthcare Co. will post 11.37 EPS for the current fiscal year.

Tenet Healthcare declared that its board has approved a share repurchase program on Wednesday, July 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

THC has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of Tenet Healthcare from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Truist Financial reiterated a “buy” rating and issued a $190.00 target price (up previously from $180.00) on shares of Tenet Healthcare in a research report on Wednesday, October 30th. Barclays increased their price target on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Royal Bank of Canada lifted their price target on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Citigroup lifted their price target on shares of Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $170.38.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,000 shares of the company’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 completion of the transaction, the director now owns 14,227 shares in the company, valued at approximately $2,328,533.09. This represents a 12.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the transaction, the executive vice president now owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,599 shares of company stock valued at $2,830,834. 0.93% of the stock is owned by company insiders.

About Tenet Healthcare

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.