Tenet Healthcare Co. (NYSE:THC) Shares Sold by Oak Associates Ltd. OH

Oak Associates Ltd. OH reduced its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 23.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,700 shares of the company’s stock after selling 1,123 shares during the period. Oak Associates Ltd. OH’s holdings in Tenet Healthcare were worth $492,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in THC. Innealta Capital LLC acquired a new position in Tenet Healthcare during the second quarter worth about $28,000. ORG Partners LLC acquired a new position in Tenet Healthcare during the second quarter worth $31,000. Blue Trust Inc. grew its holdings in Tenet Healthcare by 93.0% in the second quarter. Blue Trust Inc. now owns 249 shares of the company’s stock valued at $33,000 after purchasing an additional 120 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of Tenet Healthcare in the first quarter valued at $29,000. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Tenet Healthcare by 759.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 361 shares of the company’s stock worth $48,000 after buying an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Tenet Healthcare from $156.00 to $173.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Raymond James upped their target price on Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Baird R W raised Tenet Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. UBS Group lifted their price objective on Tenet Healthcare from $180.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Robert W. Baird initiated coverage on shares of Tenet Healthcare in a research note on Thursday, May 30th. They set an “outperform” rating and a $153.00 price target on the stock. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $152.69.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total value of $1,879,733.94. Following the completion of the sale, the insider now owns 6,324 shares of the company’s stock, valued at $1,024,867.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider R. Scott Ramsey sold 11,599 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the sale, the insider now directly owns 6,324 shares of the company’s stock, valued at approximately $1,024,867.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Meghan Fitzgerald sold 20,000 shares of the company’s stock in a transaction dated 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 directly owns 15,269 shares of the company’s stock, valued at $2,234,465.46. The disclosure for this sale can be found here. Insiders have sold 128,203 shares of company stock valued at $19,754,997 over the last three months. 0.93% of the stock is owned by company insiders.

Tenet Healthcare Trading Up 2.8 %

Shares of THC opened at $162.41 on Friday. The stock’s fifty day simple moving average is $149.97 and its 200 day simple moving average is $128.03. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $166.89. The company has a current ratio of 1.45, a quick ratio of 1.38 and a debt-to-equity ratio of 2.53. The firm has a market capitalization of $15.56 billion, a P/E ratio of 6.30, a price-to-earnings-growth ratio of 0.80 and a beta of 2.14.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Wednesday, July 24th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.42. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.98 billion. On average, equities research analysts forecast that Tenet Healthcare Co. will post 10.7 earnings per share for the current year.

Tenet Healthcare declared that its Board of Directors has authorized a stock buyback program 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 programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Tenet Healthcare Company 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.