Tenet Healthcare Co. (NYSE:THC) is Khrom Capital Management LLC’s 7th Largest Position

Khrom Capital Management LLC lessened its stake in Tenet Healthcare Co. (NYSE:THC) by 16.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,223 shares of the company’s stock after selling 53,295 shares during the period. Tenet Healthcare comprises about 6.8% of Khrom Capital Management LLC’s holdings, making the stock its 7th largest holding. Khrom Capital Management LLC owned approximately 0.28% of Tenet Healthcare worth $35,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Tenet Healthcare during the fourth quarter valued at approximately $78,254,000. Wells Fargo & Company MN increased its position in shares of Tenet Healthcare by 2.1% in the fourth quarter. Wells Fargo & Company MN now owns 155,422 shares of the company’s stock valued at $11,745,000 after acquiring an additional 3,237 shares during the period. Franklin Resources Inc. raised its stake in shares of Tenet Healthcare by 10.0% during the fourth quarter. Franklin Resources Inc. now owns 46,209 shares of the company’s stock valued at $3,492,000 after acquiring an additional 4,196 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Tenet Healthcare during the fourth quarter worth about $300,000. Finally, Hsbc Holdings PLC increased its holdings in Tenet Healthcare by 113.0% during the 4th quarter. Hsbc Holdings PLC now owns 453,624 shares of the company’s stock valued at $34,266,000 after purchasing an additional 240,611 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Trading Down 1.2 %

Shares of THC stock opened at $165.16 on Monday. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.45 and a quick ratio of 1.38. The company has a market cap of $16.13 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 0.80 and a beta of 2.14. Tenet Healthcare Co. has a 1 year low of $51.04 and a 1 year high of $167.29. The firm has a fifty day moving average price of $153.09 and a 200-day moving average price of $130.71.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.89 by $0.42. The firm had revenue of $5.10 billion for 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, equities analysts predict that Tenet Healthcare Co. will post 10.7 earnings per share for the current year.

Tenet Healthcare declared that its board has approved a stock repurchase program on Wednesday, July 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider R. Scott Ramsey sold 11,599 shares of Tenet Healthcare 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 transaction, the insider now owns 6,324 shares in the company, valued at approximately $1,024,867.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the sale, the insider now directly owns 6,324 shares of the company’s stock, valued at $1,024,867.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Saumya Sutaria sold 86,227 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total value of $13,314,311.07. Following the completion of the transaction, the chief executive officer now directly owns 13,773 shares of the company’s stock, valued at approximately $2,126,688.93. The disclosure for this sale can be found here. Insiders sold a total of 128,203 shares of company stock worth $19,754,997 over the last three months. 0.93% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on THC. 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. Baird R W raised shares of Tenet Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. Truist Financial reaffirmed a “buy” rating and issued a $170.00 target price (up from $155.00) on shares of Tenet Healthcare in a research report on Thursday, July 25th. Citigroup increased their price target on shares of Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group boosted their target price on shares of Tenet Healthcare from $156.00 to $173.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Buy” and an average target price of $152.69.

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.