Amalgamated Bank Has $8.13 Million Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Amalgamated Bank lowered its stake in Tenet Healthcare Co. (NYSE:THC) by 11.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,093 shares of the company’s stock after selling 7,894 shares during the period. Amalgamated Bank owned approximately 0.06% of Tenet Healthcare worth $8,127,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Tenet Healthcare by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock valued at $839,613,000 after buying an additional 172,913 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Tenet Healthcare by 11.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock valued at $831,947,000 after purchasing an additional 790,684 shares in the last quarter. Glenview Capital Management LLC boosted its holdings in shares of Tenet Healthcare by 12.8% in the 4th quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock valued at $585,087,000 after purchasing an additional 877,180 shares in the last quarter. Greenlight Capital Inc. increased its stake in shares of Tenet Healthcare by 44.3% in the 4th quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock valued at $99,448,000 after purchasing an additional 404,190 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Tenet Healthcare during the 4th quarter worth $78,254,000. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $167.23 on Friday. The company has a market cap of $16.34 billion, a P/E ratio of 6.49, a PEG ratio of 0.80 and a beta of 2.14. 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 business has a 50-day moving average price of $151.81 and a two-hundred day moving average price of $129.48. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $167.29.

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

Tenet Healthcare announced that its Board of Directors has initiated 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 reacquire up to 10.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, Director Meghan Fitzgerald sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the transaction, the director now directly owns 15,269 shares of the company’s stock, valued at approximately $2,234,465.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Saumya Sutaria sold 86,227 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $154.41, for a total value of $13,314,311.07. Following the transaction, the chief executive officer now owns 13,773 shares of the company’s stock, valued at approximately $2,126,688.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Meghan Fitzgerald sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total value of $2,926,800.00. Following the sale, 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 sold a total of 128,203 shares of company stock worth $19,754,997 in the last three months. Company insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Tenet Healthcare from $107.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. StockNews.com raised Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Friday, June 7th. Raymond James lifted their price target 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. Wells Fargo & Company upped their price objective on Tenet Healthcare from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Barclays boosted their target price on shares of Tenet Healthcare from $156.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $152.69.

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.