Clear Harbor Asset Management LLC Sells 1,148 Shares of Tenet Healthcare Co. (NYSE:THC)

Clear Harbor Asset Management LLC decreased its position in Tenet Healthcare Co. (NYSE:THC) by 10.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,327 shares of the company’s stock after selling 1,148 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Tenet Healthcare were worth $1,716,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in Tenet Healthcare by 11.1% in 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 boosted its holdings in Tenet Healthcare by 74.5% during the first 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 during the last quarter. Acadian Asset Management LLC grew its position in Tenet Healthcare by 7,223.1% in the second quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock valued at $43,385,000 after purchasing an additional 321,789 shares in the last quarter. Farallon Capital Management LLC lifted its position in Tenet Healthcare by 70.1% during the 1st quarter. Farallon Capital Management LLC now owns 637,442 shares of the company’s stock worth $67,002,000 after buying an additional 262,600 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Tenet Healthcare by 344.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock valued at $52,718,000 after acquiring an additional 245,875 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Tenet Healthcare news, CEO Saumya Sutaria sold 86,227 shares of the firm’s 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 transaction, the chief executive officer now owns 13,773 shares in the company, valued at $2,126,688.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tenet Healthcare news, CEO Saumya Sutaria sold 86,227 shares of the stock in a transaction dated Wednesday, August 14th. The shares were 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 directly owns 13,773 shares in the company, valued at $2,126,688.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Meghan Fitzgerald sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the completion of the transaction, the director now owns 15,269 shares of the company’s stock, valued at $2,234,465.46. The trade was 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 sold 128,203 shares of company stock worth $19,754,997. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of NYSE THC opened at $139.77 on Friday. Tenet Healthcare Co. has a one year low of $51.04 and a one year high of $171.20. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.45 and a quick ratio of 1.38. The firm has a market cap of $13.65 billion, a price-to-earnings ratio of 5.42, a P/E/G ratio of 0.80 and a beta of 2.14. The stock’s fifty day moving average price is $159.85 and its two-hundred day moving average price is $140.50.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.42. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.98 billion. On average, equities analysts forecast that Tenet Healthcare Co. will post 10.72 EPS for the current year.

Tenet Healthcare announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 10.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently issued reports on THC shares. The Goldman Sachs Group upped their target price on Tenet Healthcare from $156.00 to $173.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. UBS Group increased 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. Truist Financial boosted their target price on shares of Tenet Healthcare from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, October 14th. KeyCorp assumed coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They issued an “overweight” rating and a $200.00 price objective for the company. Finally, Citigroup upped their target price on shares of Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One equities research 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 stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $157.24.

About Tenet Healthcare

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.