Richard W. Fisher Sells 3,077 Shares of Tenet Healthcare Co. (NYSE:THC) Stock

Tenet Healthcare Co. (NYSE:THC - Get Free Report) Director Richard W. Fisher sold 3,077 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $165.72, for a total transaction of $509,920.44. Following the sale, the director now directly owns 12,128 shares of the company's stock, valued at approximately $2,009,852.16. The trade was a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tenet Healthcare Stock Performance

Shares of THC stock traded up $2.56 during trading on Friday, reaching $168.82. 2,250,200 shares of the company's stock traded hands, compared to its average volume of 1,516,611. The company has a market capitalization of $15.68 billion, a P/E ratio of 5.24, a PEG ratio of 1.02 and a beta of 1.63. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The firm's 50-day moving average is $140.71 and its 200 day moving average is $136.62. Tenet Healthcare Co. has a 1 year low of $109.82 and a 1 year high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $5.15 billion. During the same period in the prior year, the company posted $3.22 EPS. Tenet Healthcare's revenue was down 2.5% compared to the same quarter last year. Equities research analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on THC. Wall Street Zen raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Friday. TD Cowen began coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price objective for the company. Baird R W downgraded shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. UBS Group upped their price objective on shares of Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group upped their price objective on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and an average price target of $177.59.

Institutional Trading of Tenet Healthcare

Institutional investors and hedge funds have recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Tenet Healthcare in the 1st quarter worth approximately $26,000. Wayfinding Financial LLC purchased a new stake in Tenet Healthcare in the 1st quarter worth approximately $28,000. SVB Wealth LLC purchased a new stake in Tenet Healthcare in the 1st quarter worth approximately $30,000. N.E.W. Advisory Services LLC purchased a new stake in Tenet Healthcare in the 1st quarter worth approximately $31,000. Finally, Brooklyn Investment Group increased its holdings in shares of Tenet Healthcare by 908.7% in the 1st quarter. Brooklyn Investment Group now owns 232 shares of the company's stock worth $31,000 after buying an additional 209 shares during the last quarter. 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.