Tenet Healthcare Co. (NYSE:THC) Director Sells $144,761.76 in Stock

Tenet Healthcare Co. (NYSE:THC) Director Richard W. Fisher sold 836 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $173.16, for a total transaction of $144,761.76. Following the transaction, the director now directly owns 11,292 shares of the company’s stock, valued at $1,955,322.72. This represents a 6.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Tenet Healthcare Trading Down 0.3%

Shares of NYSE:THC opened at $171.36 on Monday. The stock’s 50-day simple moving average is $144.43 and its two-hundred day simple moving average is $136.91. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 5.32, a PEG ratio of 1.02 and a beta of 1.65. Tenet Healthcare Co. has a 52-week low of $109.82 and a 52-week high of $174.14. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same period in the previous year, the business posted $3.22 earnings per share. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on THC. Guggenheim began coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price target on the stock. Morgan Stanley raised their price target on Tenet Healthcare from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Truist Financial upped their price target on shares of Tenet Healthcare from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. The Goldman Sachs Group raised their price objective on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Finally, Bank of America upped their target price on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $180.18.

Institutional Investors Weigh In On Tenet Healthcare

Several hedge funds and other institutional investors have recently modified their holdings of THC. Strs Ohio bought a new stake in Tenet Healthcare during the first quarter valued at about $1,550,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Tenet Healthcare by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,969 shares of the company’s stock valued at $37,252,000 after acquiring an additional 12,914 shares during the period. Empowered Funds LLC increased its holdings in Tenet Healthcare by 19.6% in the 1st quarter. Empowered Funds LLC now owns 154,754 shares of the company’s stock worth $20,814,000 after acquiring an additional 25,323 shares in the last quarter. United Services Automobile Association purchased a new position in Tenet Healthcare during the first quarter valued at approximately $821,000. Finally, Fred Alger Management LLC bought a new position in shares of Tenet Healthcare in the first quarter worth approximately $2,652,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

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.