Winslow Asset Management Inc. Decreases Position in Tenet Healthcare Co. (NYSE:THC)

Winslow Asset Management Inc. decreased its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 6.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,946 shares of the company's stock after selling 9,895 shares during the quarter. Tenet Healthcare makes up 4.2% of Winslow Asset Management Inc.'s holdings, making the stock its 4th largest holding. Winslow Asset Management Inc. owned about 0.14% of Tenet Healthcare worth $22,760,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in Tenet Healthcare during the second quarter valued at approximately $28,000. ORG Wealth Partners LLC acquired a new stake in Tenet Healthcare in the third quarter valued at about $30,000. ORG Partners LLC acquired a new stake in Tenet Healthcare in the second quarter valued at approximately $31,000. Blue Trust Inc. raised its stake in shares of Tenet Healthcare by 93.0% during the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company's stock valued at $33,000 after purchasing an additional 120 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in Tenet Healthcare during the 2nd quarter valued at approximately $34,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, CEO Saumya Sutaria sold 86,227 shares of Tenet Healthcare stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the completion of the sale, the chief executive officer now directly owns 13,773 shares of the company's stock, valued at $2,126,688.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Lisa Y. Foo sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares in the company, valued at approximately $2,427,362.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Saumya Sutaria sold 86,227 shares of the firm's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the sale, the chief executive officer now owns 13,773 shares of the company's stock, valued at approximately $2,126,688.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,203 shares of company stock worth $17,451,957 over the last quarter. 0.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Barclays lifted their target price on Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a report on Friday. Truist Financial restated a "buy" rating and issued a $190.00 price target (up previously from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. Citigroup boosted their target price on shares of Tenet Healthcare from $139.00 to $171.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. UBS Group raised their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a "buy" rating in a research note 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 on the stock. 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. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $165.35.

Tenet Healthcare Price Performance

THC stock traded down $2.60 on Tuesday, hitting $164.25. 1,009,132 shares of the company's stock traded hands, compared to its average volume of 1,214,694. The stock has a market cap of $15.62 billion, a price-to-earnings ratio of 5.35, a P/E/G ratio of 0.74 and a beta of 2.15. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The stock has a fifty day moving average of $159.45 and a 200-day moving average of $145.65. Tenet Healthcare Co. has a 1-year low of $53.63 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.33 by $0.60. The company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm's revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company earned $1.44 earnings per share. On average, 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 buyback program on Wednesday, July 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to repurchase up to 10.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is 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.