Tenet Healthcare Co. (NYSE:THC) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 33.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 300,148 shares of the company's stock after purchasing an additional 74,533 shares during the period. Victory Capital Management Inc. owned approximately 0.32% of Tenet Healthcare worth $49,885,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of THC. Legacy Capital Group California Inc. purchased a new stake in shares of Tenet Healthcare during the 3rd quarter valued at about $1,055,000. Diversified Trust Co bought a new stake in shares of Tenet Healthcare in the 2nd quarter valued at approximately $558,000. Janney Montgomery Scott LLC bought a new position in shares of Tenet Healthcare during the 1st quarter valued at approximately $537,000. O Shaughnessy Asset Management LLC raised its holdings in Tenet Healthcare by 31.1% during 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 period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Tenet Healthcare by 124.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,787 shares of the company's stock worth $1,701,000 after buying an additional 7,078 shares during the period. Hedge funds and other institutional investors own 95.44% of the company's stock.

Analysts Set New Price Targets

THC has been the subject of several analyst reports. Barclays raised their target price on shares of Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. The Goldman Sachs Group boosted their target price on Tenet Healthcare from $173.00 to $196.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price target on Tenet Healthcare from $195.00 to $205.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Royal Bank of Canada upped their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, Citigroup lifted their target price on Tenet Healthcare from $139.00 to $171.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $170.38.

Tenet Healthcare Stock Down 4.5 %

Tenet Healthcare stock traded down $7.31 during mid-day trading on Friday, reaching $155.34. 1,573,786 shares of the company were exchanged, compared to its average volume of 1,218,194. Tenet Healthcare Co. has a 12-month low of $57.65 and a 12-month high of $171.20. The business has a fifty day moving average of $159.57 and a 200 day moving average of $147.00. The firm has a market cap of $14.77 billion, a P/E ratio of 4.98, a PEG ratio of 0.73 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 (NYSE:THC - Get Free Report) last posted its 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. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the firm earned $1.44 earnings per share. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Tenet Healthcare announced that its board has approved a stock buyback program on Wednesday, July 24th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the firm's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the sale, the executive vice president now owns 15,566 shares of the company's stock, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard W. Fisher sold 2,000 shares of the stock in a transaction that occurred 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 directly owns 14,227 shares of the company's stock, valued at $2,328,533.09. The trade was a 12.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,599 shares of company stock worth $2,830,834 over the last three months. Corporate insiders own 0.93% of the company's stock.

Tenet Healthcare 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.