Tenet Healthcare Co. (NYSE:THC) Director Sells $185,136.00 in Stock

Tenet Healthcare Co. (NYSE:THC) Director Richard W. Fisher sold 1,400 shares of Tenet Healthcare stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $132.24, for a total transaction of $185,136.00. Following the completion of the sale, the director now owns 16,227 shares of the company’s stock, valued at $2,145,858.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tenet Healthcare Trading Down 1.0 %

Shares of THC stock opened at $138.04 on Friday. The company has a market capitalization of $13.48 billion, a P/E ratio of 5.36, a P/E/G ratio of 1.41 and a beta of 2.12. The firm has a 50-day moving average price of $118.88 and a 200 day moving average price of $97.28. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. Tenet Healthcare Co. has a 12-month low of $51.04 and a 12-month high of $142.35.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data 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 return on equity of 26.76% and a net margin of 12.53%. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the previous year, the company posted $1.42 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts forecast that Tenet Healthcare Co. will post 8.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

THC has been the subject of several analyst reports. Stephens lifted their price objective on shares of Tenet Healthcare from $95.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. upped their price target on Tenet Healthcare from $107.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Robert W. Baird assumed coverage on Tenet Healthcare in a research note on Thursday, May 30th. They issued an “outperform” rating and a $153.00 price objective on the stock. Baird R W upgraded Tenet Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Finally, UBS Group boosted their price objective on shares of Tenet Healthcare from $137.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $120.41.

Hedge Funds Weigh In On Tenet Healthcare

A number of large investors have recently modified their holdings of THC. Vanguard Group Inc. lifted its stake in shares of Tenet Healthcare by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock valued at $839,613,000 after purchasing an additional 172,913 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Tenet Healthcare by 11.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock worth $831,947,000 after purchasing an additional 790,684 shares in the last quarter. Glenview Capital Management LLC grew its position in Tenet Healthcare by 12.8% in the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock valued at $585,087,000 after purchasing an additional 877,180 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Tenet Healthcare by 16.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,516,792 shares of the company’s stock worth $114,629,000 after acquiring an additional 212,185 shares in the last quarter. Finally, Greenlight Capital Inc. boosted its holdings in shares of Tenet Healthcare by 44.3% in the 4th quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock valued at $99,448,000 after buying an additional 404,190 shares during the last quarter. 95.44% of the stock is currently 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.