Amalgamated Bank lowered its stake in shares of Tenet Healthcare Co. (NYSE:THC – Get Rating) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,788 shares of the company’s stock after selling 3,015 shares during the quarter. Amalgamated Bank’s holdings in Tenet Healthcare were worth $5,913,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Washington Trust Advisors Inc. bought a new stake in Tenet Healthcare during the first quarter worth $34,000. Parkside Financial Bank & Trust boosted its position in Tenet Healthcare by 1,063.9% in the first quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock worth $36,000 after purchasing an additional 383 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Tenet Healthcare in the first quarter worth $36,000. Prospera Financial Services Inc purchased a new position in Tenet Healthcare in the first quarter worth $73,000. Finally, Point72 Hong Kong Ltd purchased a new position in Tenet Healthcare in the first quarter worth $78,000. Institutional investors own 97.38% of the company’s stock.
Insider Activity at Tenet Healthcare
In related news, Director Richard W. Fisher sold 7,439 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $62.92, for a total transaction of $468,061.88. Following the completion of the sale, the director now directly owns 34,362 shares in the company, valued at approximately $2,162,057.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director J Robert Kerrey sold 36,766 shares of the stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $65.56, for a total transaction of $2,410,378.96. Following the completion of the sale, the director now directly owns 48,798 shares in the company, valued at approximately $3,199,196.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard W. Fisher sold 7,439 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $62.92, for a total value of $468,061.88. Following the sale, the director now owns 34,362 shares of the company’s stock, valued at $2,162,057.04. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Tenet Healthcare Price Performance
Tenet Healthcare (NYSE:THC – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.40 by $0.10. Tenet Healthcare had a return on equity of 45.10% and a net margin of 4.58%. During the same quarter last year, the firm posted $1.59 EPS. Sell-side analysts forecast that Tenet Healthcare Co. will post 6.47 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. UBS Group dropped their price target on Tenet Healthcare from $113.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. The Goldman Sachs Group dropped their price objective on Tenet Healthcare from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. Mizuho increased their price objective on Tenet Healthcare from $63.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. TheStreet cut Tenet Healthcare from a “b-” rating to a “c+” rating in a report on Friday, July 22nd. Finally, Raymond James dropped their price objective on Tenet Healthcare from $120.00 to $110.00 and set a “strong-buy” rating on the stock in a report on Monday, July 11th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $92.69.
About Tenet Healthcare
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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