Wipfli Financial Advisors LLC Purchases Shares of 596 Tenet Healthcare Co. (NYSE:THC)

Wipfli Financial Advisors LLC purchased a new stake in shares of Tenet Healthcare Co. (NYSE:THC – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 596 shares of the company’s stock, valued at approximately $31,000.

Other hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in shares of 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 buying an additional 383 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Tenet Healthcare during the first quarter valued at approximately $36,000. Washington Trust Advisors Inc. raised its holdings in shares of Tenet Healthcare by 62.2% during the third quarter. Washington Trust Advisors Inc. now owns 746 shares of the company’s stock valued at $38,000 after acquiring an additional 286 shares during the last quarter. CoreCap Advisors LLC acquired a new position in shares of Tenet Healthcare during the second quarter valued at approximately $39,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Tenet Healthcare during the first quarter valued at approximately $78,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Analyst Ratings Changes

THC has been the subject of several analyst reports. Loop Capital increased their price objective on Tenet Healthcare from $40.00 to $45.00 in a research report on Tuesday, December 6th. The Goldman Sachs Group reduced their price objective on Tenet Healthcare from $93.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, November 1st. SVB Leerink cut their price target on Tenet Healthcare from $89.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 25th. Bank of America cut their target price on Tenet Healthcare from $79.00 to $64.00 in a research report on Friday, October 21st. Finally, Citigroup lowered their price target on Tenet Healthcare from $99.00 to $76.00 and set a “buy” rating on the stock in a report on Tuesday, October 25th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.19.

Insider Activity at Tenet Healthcare

In related news, CFO Daniel J. Cancelmi bought 11,000 shares of the business’s stock in a transaction on Wednesday, October 26th. The stock was bought at an average price of $43.07 per share, for a total transaction of $473,770.00. Following the transaction, the chief financial officer now directly owns 392,815 shares in the company, valued at $16,918,542.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Daniel J. Cancelmi bought 11,000 shares of the stock in a transaction that occurred on Wednesday, October 26th. The shares were acquired at an average cost of $43.07 per share, for a total transaction of $473,770.00. Following the purchase, the chief financial officer now owns 392,815 shares of the company’s stock, valued at approximately $16,918,542.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard W. Fisher sold 9,817 shares of the firm’s stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $43.86, for a total transaction of $430,573.62. Following the completion of the transaction, the director now owns 24,545 shares in the company, valued at $1,076,543.70. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Tenet Healthcare Trading Down 3.1 %

Tenet Healthcare stock opened at $51.76 on Friday. The firm has a 50 day simple moving average of $46.78 and a 200-day simple moving average of $52.63. The company has a debt-to-equity ratio of 5.97, a current ratio of 1.40 and a quick ratio of 1.31. The stock has a market capitalization of $5.60 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 1.57 and a beta of 2.16. Tenet Healthcare Co. has a 12-month low of $36.69 and a 12-month high of $92.65.

Tenet Healthcare (NYSE:THC – Get Rating) last issued its earnings results on Thursday, October 20th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.16. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Tenet Healthcare had a net margin of 2.93% and a return on equity of 38.12%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $1.99 earnings per share. As a group, equities research analysts expect that Tenet Healthcare Co. will post 6.14 EPS for the current fiscal year.

Tenet Healthcare declared that its board has approved a share repurchase program on Thursday, October 20th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 22.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

About Tenet Healthcare

(Get Rating)

Tenet Healthcare Corp. engages in the provision of health care services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment consists of acute care hospitals, ancillary outpatient facilities, urgent care centers, microhospitals and physician practices.