Tenet Healthcare Target of Unusually High Options Trading (NYSE:THC)

Tenet Healthcare Co. (NYSE:THC) was the recipient of some unusual options trading activity on Tuesday. Stock traders purchased 3,041 call options on the stock. This is an increase of approximately 8% compared to the average daily volume of 2,804 call options.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $112.30 on Wednesday. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 3.08 and a beta of 2.08. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.42 and a current ratio of 1.51. Tenet Healthcare has a 52 week low of $51.04 and a 52 week high of $112.30. The firm’s 50-day simple moving average is $98.38 and its two-hundred day simple moving average is $81.03.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Thursday, February 8th. The company reported $2.68 EPS for the quarter, topping the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the firm posted $1.96 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that Tenet Healthcare will post 6.3 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Truist Financial lifted their price objective on shares of Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 9th. Royal Bank of Canada lifted their price objective on shares of Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Barclays initiated coverage on shares of Tenet Healthcare in a report on Wednesday, March 6th. They set an “overweight” rating and a $113.00 price objective for the company. Finally, TheStreet upgraded shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tenet Healthcare has an average rating of “Buy” and a consensus target price of $100.38.

Insider Activity

In related news, Director Richard J. Mark sold 14,000 shares of Tenet Healthcare stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the transaction, the director now owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the completion of the sale, the executive vice president now directly owns 29,803 shares in the company, valued at $2,889,698.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard J. Mark sold 14,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the sale, the director now owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,268 shares of company stock valued at $4,944,810. Insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

Several hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC increased its holdings in Tenet Healthcare by 49.8% during the 3rd quarter. CWM LLC now owns 1,443 shares of the company’s stock worth $95,000 after acquiring an additional 480 shares during the period. SG Americas Securities LLC purchased a new position in Tenet Healthcare in the 3rd quarter worth approximately $152,000. Handelsbanken Fonder AB grew its stake in Tenet Healthcare by 5.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 17,218 shares of the company’s stock worth $1,134,000 after buying an additional 900 shares in the last quarter. Raymond James & Associates grew its stake in Tenet Healthcare by 32.2% in the 3rd quarter. Raymond James & Associates now owns 135,477 shares of the company’s stock worth $8,927,000 after buying an additional 32,992 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Tenet Healthcare by 11.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 100,502 shares of the company’s stock worth $6,622,000 after buying an additional 10,141 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

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.