Vista Investment Partners LLC Buys Shares of 24,430 Tenet Healthcare Co. (NYSE:THC)

Vista Investment Partners LLC bought a new stake in Tenet Healthcare Co. (NYSE:THC - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 24,430 shares of the company's stock, valued at approximately $4,060,000. Tenet Healthcare makes up 1.3% of Vista Investment Partners LLC's portfolio, making the stock its 26th biggest holding.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Tenet Healthcare by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company's stock worth $839,613,000 after buying an additional 172,913 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 valued at $831,947,000 after acquiring an additional 790,684 shares in the last quarter. 8 Knots Management LLC lifted its stake in Tenet Healthcare by 74.5% in the 1st quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company's stock worth $107,814,000 after purchasing an additional 438,033 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Tenet Healthcare by 7.3% during the 2nd quarter. Marshall Wace LLP now owns 713,979 shares of the company's stock worth $94,981,000 after purchasing an additional 48,626 shares during the last quarter. Finally, Farallon Capital Management LLC increased its holdings in shares of Tenet Healthcare by 7.8% in the second quarter. Farallon Capital Management LLC now owns 687,442 shares of the company's stock valued at $91,450,000 after purchasing an additional 50,000 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Up 1.3 %

Tenet Healthcare stock traded up $2.16 during mid-day trading on Friday, reaching $163.87. 813,376 shares of the company's stock were exchanged, compared to its average volume of 1,189,105. The company has a fifty day moving average of $159.94 and a 200-day moving average of $138.46. The company has a market cap of $16.01 billion, a P/E ratio of 6.36, a P/E/G ratio of 0.78 and a beta of 2.14. The company has a quick ratio of 1.38, a current ratio of 1.45 and a debt-to-equity ratio of 2.53. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its earnings results on Wednesday, July 24th. The company reported $2.31 earnings per share (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 firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $4.98 billion. Sell-side analysts expect that Tenet Healthcare Co. will post 10.73 EPS for the current year.

Tenet Healthcare announced that its Board of Directors has authorized a share buyback plan 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 plans are usually an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other news, insider R. Scott Ramsey sold 11,599 shares of Tenet Healthcare stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the sale, the insider now directly owns 6,324 shares of the company's stock, valued at approximately $1,024,867.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider R. Scott Ramsey sold 11,599 shares of the firm's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the sale, the insider now owns 6,324 shares of the company's stock, valued at approximately $1,024,867.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saumya Sutaria sold 86,227 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $154.41, for a total value of $13,314,311.07. Following the completion of the transaction, the chief executive officer now directly owns 13,773 shares of the company's stock, valued at $2,126,688.93. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,203 shares of company stock worth $19,754,997. Company insiders own 0.93% of the company's stock.

Analyst Ratings Changes

THC has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on Tenet Healthcare from $156.00 to $173.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $168.00 target price on shares of Tenet Healthcare in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Tenet Healthcare from $150.00 to $155.00 and gave the company a "buy" rating in a research note on Friday, June 28th. UBS Group upped their price objective on Tenet Healthcare from $180.00 to $197.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. Finally, KeyCorp initiated coverage on Tenet Healthcare in a research note on Friday, October 11th. They set an "overweight" rating and a $200.00 target price for the company. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of "Buy" and a consensus target price of $156.06.

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.