Tenet Healthcare Co. (NYSE:THC) Shares Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. grew its holdings in Tenet Healthcare Co. (NYSE:THC) by 11,670.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,355 shares of the company’s stock after buying an additional 4,318 shares during the quarter. Meeder Asset Management Inc.’s holdings in Tenet Healthcare were worth $724,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in THC. Acadian Asset Management LLC lifted its holdings in Tenet Healthcare by 102.9% during the first quarter. Acadian Asset Management LLC now owns 4,455 shares of the company’s stock valued at $468,000 after purchasing an additional 2,259 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Tenet Healthcare by 31.1% in 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 in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Tenet Healthcare during the 1st quarter worth approximately $221,000. Quadrature Capital Ltd raised its holdings in shares of Tenet Healthcare by 203.3% during the first quarter. Quadrature Capital Ltd now owns 11,091 shares of the company’s stock valued at $1,166,000 after acquiring an additional 7,434 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Tenet Healthcare by 11.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock worth $831,947,000 after acquiring an additional 790,684 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the transaction, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard W. Fisher sold 2,000 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 owns 14,227 shares of the company’s stock, valued at $2,328,533.09. This represents a 12.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,599 shares of company stock valued at $2,830,834 in the last 90 days. Company insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

THC has been the topic of several recent research reports. Cantor Fitzgerald lifted their target price on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their price objective on shares of Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. KeyCorp began coverage on Tenet Healthcare in a report on Friday, October 11th. They set an “overweight” rating and a $200.00 target price on the stock. Royal Bank of Canada increased their price target on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Raymond James boosted their price objective on Tenet Healthcare from $130.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $170.38.

Tenet Healthcare Trading Down 0.1 %

Shares of NYSE THC opened at $153.35 on Wednesday. The stock has a fifty day simple moving average of $159.55 and a 200-day simple moving average of $147.69. Tenet Healthcare Co. has a twelve month low of $62.70 and a twelve month high of $171.20. 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 market capitalization of $14.58 billion, a PE ratio of 4.91, a PEG ratio of 0.70 and a beta of 2.15.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.60. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, equities analysts forecast that Tenet Healthcare Co. will post 11.37 earnings per share for the current year.

Tenet Healthcare announced that its Board of Directors has initiated a share buyback program on Wednesday, July 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to purchase up to 10.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.