Silvant Capital Management LLC Lowers Position in Tenet Healthcare Co. (NYSE:THC)

Silvant Capital Management LLC reduced its holdings in Tenet Healthcare Co. (NYSE:THC) by 22.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,770 shares of the company’s stock after selling 14,173 shares during the quarter. Silvant Capital Management LLC owned 0.05% of Tenet Healthcare worth $8,106,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of THC. BNP Paribas Financial Markets increased its position in shares of Tenet Healthcare by 113.5% during the 1st quarter. BNP Paribas Financial Markets now owns 54,878 shares of the company’s stock valued at $5,768,000 after purchasing an additional 29,172 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Tenet Healthcare in the 1st quarter valued at $410,000. Legacy Capital Group California Inc. purchased a new position in Tenet Healthcare in the 3rd quarter worth $1,055,000. Diversified Trust Co purchased a new stake in Tenet Healthcare during the second quarter valued at about $558,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Tenet Healthcare in the first quarter worth about $537,000. Institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

THC has been the topic of a number of analyst reports. UBS Group lifted their price target on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James boosted their price target on Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Barclays lifted their price objective on Tenet Healthcare from $156.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. The Goldman Sachs Group raised their price target on Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their price objective on shares of Tenet Healthcare from $175.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $163.65.

Insider Buying and Selling at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 directly owns 14,227 shares of the company’s stock, valued at $2,328,533.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Richard W. Fisher sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total transaction of $327,340.00. Following the completion of the sale, the director now owns 14,227 shares of the company’s stock, valued at $2,328,533.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the director now owns 15,269 shares of the company’s stock, valued at $2,234,465.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,203 shares of company stock worth $20,378,757. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Up 0.7 %

Shares of Tenet Healthcare stock opened at $156.13 on Friday. The company has a 50-day simple moving average of $159.38 and a two-hundred day simple moving average of $142.08. Tenet Healthcare Co. has a 52-week low of $52.08 and a 52-week high of $171.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.38 and a current ratio of 1.58. The stock has a market capitalization of $14.85 billion, a PE ratio of 5.00, a price-to-earnings-growth ratio of 0.72 and a beta of 2.14.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.33 by $0.60. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $1.44 EPS. On average, analysts anticipate that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

Tenet Healthcare declared that its Board of Directors has initiated a share buyback plan 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Tenet Healthcare 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.