3,370 Shares in Tenet Healthcare Co. (NYSE:THC) Bought by Paloma Partners Management Co

Paloma Partners Management Co acquired a new position in shares of Tenet Healthcare Co. (NYSE:THC) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,370 shares of the company’s stock, valued at approximately $354,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in shares of Tenet Healthcare in the first quarter worth $29,000. GAMMA Investing LLC acquired a new position in shares of Tenet Healthcare in the fourth quarter worth $52,000. FinTrust Capital Advisors LLC raised its holdings in shares of Tenet Healthcare by 108.6% in the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after acquiring an additional 467 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Tenet Healthcare in the first quarter worth $78,000. Finally, Bellevue Group AG raised its holdings in shares of Tenet Healthcare by 106.7% in the fourth quarter. Bellevue Group AG now owns 1,447 shares of the company’s stock worth $109,000 after acquiring an additional 747 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on THC shares. UBS Group lifted their price objective on Tenet Healthcare from $137.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Baird R W raised Tenet Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. Barclays lifted their price objective on Tenet Healthcare from $156.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday. Stephens lifted their price objective on Tenet Healthcare from $95.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Tenet Healthcare from $107.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $138.00.

Insider Buying and Selling

In related news, Director Richard W. Fisher sold 1,400 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $132.24, for a total value of $185,136.00. Following the transaction, the director now owns 16,227 shares in the company, valued at $2,145,858.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard W. Fisher sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $132.24, for a total value of $185,136.00. Following the sale, the director now owns 16,227 shares in the company, valued at approximately $2,145,858.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,691 shares of company stock worth $3,117,909. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Stock Up 0.8 %

Shares of THC traded up $1.17 during midday trading on Monday, reaching $152.80. 1,306,939 shares of the company were exchanged, compared to its average volume of 1,235,351. The stock has a 50-day moving average price of $135.41 and a 200-day moving average price of $111.67. The company has a market cap of $14.93 billion, a price-to-earnings ratio of 5.93, a P/E/G ratio of 0.78 and a beta of 2.15. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $155.00. The company has a current ratio of 1.45, a quick ratio of 1.38 and a debt-to-equity ratio of 2.53.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter in the previous year, the firm posted $1.42 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. Research analysts expect that Tenet Healthcare Co. will post 10.68 earnings per share for the current year.

Tenet Healthcare declared that its board has approved a stock buyback plan 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.