Venturi Wealth Management LLC Has $87,000 Stock Position in Tenet Healthcare Co. (NYSE:THC)

Venturi Wealth Management LLC grew its stake in Tenet Healthcare Co. (NYSE:THC) by 36.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 521 shares of the company’s stock after acquiring an additional 138 shares during the period. Venturi Wealth Management LLC’s holdings in Tenet Healthcare were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of THC. Innealta Capital LLC bought a new stake in Tenet Healthcare during the 2nd quarter worth about $28,000. ORG Wealth Partners LLC bought a new stake in shares of Tenet Healthcare during the third quarter worth approximately $30,000. ORG Partners LLC acquired a new position in Tenet Healthcare in the second quarter valued at approximately $31,000. Blue Trust Inc. boosted its stake 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 acquiring an additional 120 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Tenet Healthcare during the 2nd quarter valued at $34,000. 95.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the sale, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard W. Fisher sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total transaction of $327,340.00. Following the transaction, the director now owns 14,227 shares in the company, valued at $2,328,533.09. This represents a 12.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,599 shares of company stock worth $2,830,834. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Trading Down 0.2 %

NYSE:THC opened at $162.64 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a twelve month low of $57.65 and a twelve month high of $171.20. The company has a market cap of $15.47 billion, a P/E ratio of 5.21, a price-to-earnings-growth ratio of 0.73 and a beta of 2.15. The business has a 50 day moving average price of $159.54 and a two-hundred day moving average price of $146.36.

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

Tenet Healthcare announced that its board has authorized a share repurchase plan on Wednesday, July 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 10.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on THC shares. UBS Group upped their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays increased their price target on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Raymond James boosted their price objective on shares of Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Citigroup lifted their price target on shares of Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, KeyCorp initiated coverage on Tenet Healthcare in a research note on Friday, October 11th. They set an “overweight” rating and a $200.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $170.38.

About Tenet Healthcare

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.