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

Tenet Healthcare Co. (NYSE:THC) Director Richard W. Fisher sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $123.20, for a total transaction of $308,000.00. Following the transaction, the director now directly owns 17,627 shares in the company, valued at approximately $2,171,646.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $127.68 on Friday. The stock’s fifty day simple moving average is $103.03 and its 200 day simple moving average is $84.30. Tenet Healthcare Co. has a 12 month low of $51.04 and a 12 month high of $127.73. The company has a market capitalization of $12.47 billion, a PE ratio of 4.95, a PEG ratio of 1.22 and a beta of 2.09. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.58.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same period last year, the business posted $1.42 EPS. Tenet Healthcare’s revenue was up 6.9% on a year-over-year basis. On average, research analysts predict that Tenet Healthcare Co. will post 8.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on THC. Truist Financial reissued a “buy” rating and set a $130.00 target price (up from $120.00) on shares of Tenet Healthcare in a research report on Wednesday, May 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $104.00 price objective on shares of Tenet Healthcare in a report on Wednesday, April 10th. Wolfe Research upgraded shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target on the stock in a research note on Wednesday, March 27th. TheStreet upgraded shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Finally, StockNews.com upgraded shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $113.19.

Hedge Funds Weigh In On Tenet Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new position in Tenet Healthcare in the first quarter valued at about $29,000. GAMMA Investing LLC acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at approximately $52,000. Fidelis Capital Partners LLC bought a new stake in Tenet Healthcare during the 1st quarter worth approximately $78,000. FinTrust Capital Advisors LLC increased its position in Tenet Healthcare by 108.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock valued at $68,000 after acquiring an additional 467 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in shares of Tenet Healthcare during the third quarter worth $67,000. 95.44% of the stock is owned by institutional investors and hedge funds.

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.