Sivik Global Healthcare LLC Sells 5,000 Shares of Tenet Healthcare Co. (NYSE:THC)

Sivik Global Healthcare LLC lessened its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 7.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 65,000 shares of the company’s stock after selling 5,000 shares during the period. Tenet Healthcare accounts for 4.6% of Sivik Global Healthcare LLC’s holdings, making the stock its 3rd largest position. Sivik Global Healthcare LLC’s holdings in Tenet Healthcare were worth $10,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Plato Investment Management Ltd bought a new position in shares of Tenet Healthcare in the third quarter valued at approximately $28,000. ORG Wealth Partners LLC bought a new position in Tenet Healthcare in the 3rd quarter valued at $30,000. Financial Management Professionals Inc. grew its holdings in shares of Tenet Healthcare by 2,222.2% during the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Tenet Healthcare in the second quarter valued at $28,000. Finally, ORG Partners LLC acquired a new position in Tenet Healthcare during the 2nd quarter worth about $31,000. 95.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Lisa Y. Foo sold 4,000 shares of the firm’s stock in a transaction on 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 directly owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Richard W. Fisher sold 2,000 shares of the firm’s 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares in the company, valued at $2,427,362.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,976 shares of company stock valued at $4,137,646 in the last 90 days. 0.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on THC. Wells Fargo & Company increased their price target on shares of Tenet Healthcare from $195.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada lifted their target price on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Raymond James upped their price target 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. The Goldman Sachs Group boosted their price objective on Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, KeyCorp started coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They set an “overweight” rating and a $200.00 price target for the company. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Tenet Healthcare has a consensus rating of “Buy” and a consensus target price of $165.35.

Tenet Healthcare Price Performance

Shares of THC opened at $162.93 on Thursday. The company has a 50 day moving average of $159.52 and a 200-day moving average of $146.25. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The stock has a market capitalization of $15.49 billion, a P/E ratio of 5.22, a P/E/G ratio of 0.73 and a beta of 2.15. Tenet Healthcare Co. has a twelve month low of $56.91 and a twelve month high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.60. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.44 EPS. As a group, equities research analysts forecast that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

Tenet Healthcare declared that its board has authorized a stock 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 reacquire up to 10.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors 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.