Leuthold Group LLC Buys 2,730 Shares of Tenet Healthcare Corporation $THC

Leuthold Group LLC boosted its stake in Tenet Healthcare Corporation (NYSE:THC) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,405 shares of the company’s stock after acquiring an additional 2,730 shares during the quarter. Leuthold Group LLC’s holdings in Tenet Healthcare were worth $8,793,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC raised its stake in shares of Tenet Healthcare by 1.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,468 shares of the company’s stock valued at $631,000 after purchasing an additional 42 shares during the period. PeakShares LLC lifted its holdings in shares of Tenet Healthcare by 3.3% in the first quarter. PeakShares LLC now owns 1,693 shares of the company’s stock valued at $319,000 after purchasing an additional 54 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Tenet Healthcare by 4.4% during the third quarter. Parallel Advisors LLC now owns 1,282 shares of the company’s stock worth $328,000 after buying an additional 54 shares during the period. Sanctuary Advisors LLC boosted its position in shares of Tenet Healthcare by 0.5% during the first quarter. Sanctuary Advisors LLC now owns 11,900 shares of the company’s stock worth $2,246,000 after buying an additional 57 shares during the period. Finally, Applied Finance Capital Management LLC grew its holdings in shares of Tenet Healthcare by 3.8% during the first quarter. Applied Finance Capital Management LLC now owns 1,644 shares of the company’s stock worth $310,000 after buying an additional 60 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Richard J. Mark sold 10,000 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $263.42, for a total value of $2,634,200.00. Following the transaction, the director directly owned 25,121 shares of the company’s stock, valued at $6,617,373.82. This represents a 28.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lisa Y. Foo sold 24,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $266.32, for a total transaction of $6,391,680.00. Following the sale, the executive vice president owned 8,053 shares of the company’s stock, valued at approximately $2,144,674.96. This represents a 74.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 98,462 shares of company stock valued at $26,788,234. 0.97% of the stock is owned by company insiders.

Tenet Healthcare Stock Up 2.0%

Shares of THC stock opened at $288.90 on Tuesday. Tenet Healthcare Corporation has a 52-week low of $157.58 and a 52-week high of $301.44. The stock has a market cap of $22.99 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 1.56 and a beta of 1.20. The firm’s 50-day moving average is $265.77 and its 200-day moving average is $222.88. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.52 and a current ratio of 1.58.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Thursday, October 29th. The company reported $6.64 EPS for the quarter, topping the consensus estimate of $4.68 by $1.96. The company had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $5.49 billion. Tenet Healthcare had a return on equity of 28.22% and a net margin of 13.09%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.70 EPS. Sell-side analysts predict that Tenet Healthcare Corporation will post 22.32 EPS for the current year.

Analyst Upgrades and Downgrades

THC has been the topic of a number of recent research reports. Bank of America lifted their target price on Tenet Healthcare from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Royal Bank Of Canada upped their price target on Tenet Healthcare from $283.00 to $304.00 and gave the stock an “outperform” rating in a research report on Monday, November 2nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Tenet Healthcare from $260.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Zacks Research lowered shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Finally, TD Cowen boosted their price objective on shares of Tenet Healthcare from $233.00 to $263.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Twenty analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $293.48.

Tenet Healthcare Profile

Tenet Healthcare Corporation is a U.S.-based healthcare services company that operates acute care hospitals and provides related inpatient and outpatient services. Its hospitals offer services across areas such as emergency care, surgery, imaging and specialty treatment.

Through its subsidiary United Surgical Partners International (USPI), Tenet also operates ambulatory surgery centers and surgical hospitals, providing outpatient surgical and procedural care. The company’s Conifer Health Solutions business provides revenue cycle management and other administrative services to healthcare providers.

Tenet traces its history to National Medical Enterprises, founded in 1969, and adopted the Tenet Healthcare name in 1995.