Richard Fisher Sells 2,500 Shares of Tenet Healthcare (NYSE:THC) Stock

Tenet Healthcare Corporation (NYSE:THC) Director Richard Fisher sold 2,500 shares of the stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total value of $521,075.00. Following the completion of the transaction, the director owned 8,792 shares of the company’s stock, valued at $1,832,516.56. This trade represents a 22.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Tenet Healthcare Trading Down 1.0%

NYSE:THC opened at $206.53 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.27. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $217.43. The firm has a market capitalization of $18.25 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 0.89 and a beta of 1.52. The stock has a fifty day simple moving average of $195.84 and a 200 day simple moving average of $173.08.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.37. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same quarter last year, the company posted $2.93 EPS. Tenet Healthcare’s revenue for the quarter was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. Sell-side analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Institutional Investors Weigh In On Tenet Healthcare

Several institutional investors have recently made changes to their positions in THC. GAMMA Investing LLC lifted its holdings in shares of Tenet Healthcare by 28.1% during the 1st quarter. GAMMA Investing LLC now owns 1,430 shares of the company’s stock valued at $192,000 after buying an additional 314 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Tenet Healthcare during the 1st quarter valued at about $212,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Tenet Healthcare by 65.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,420 shares of the company’s stock worth $189,000 after purchasing an additional 562 shares during the last quarter. KBC Group NV lifted its holdings in Tenet Healthcare by 124.3% in the 1st quarter. KBC Group NV now owns 15,721 shares of the company’s stock worth $2,114,000 after purchasing an additional 8,711 shares during the last quarter. Finally, Summit Trail Advisors LLC lifted its holdings in Tenet Healthcare by 47.6% in the 1st quarter. Summit Trail Advisors LLC now owns 2,913 shares of the company’s stock worth $392,000 after purchasing an additional 940 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley set a $232.00 target price on Tenet Healthcare and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank Of Canada lifted their target price on Tenet Healthcare from $230.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays lifted their target price on Tenet Healthcare from $208.00 to $229.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Wolfe Research cut Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 28th. Finally, UBS Group lifted their target price on Tenet Healthcare from $238.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Tenet Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $225.31.

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.