Insider Selling: Tenet Healthcare Co. (NYSE:THC) Director Sells 5,001 Shares of Stock

Tenet Healthcare Co. (NYSE:THC - Get Free Report) Director J Robert Kerrey sold 5,001 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $148.50, for a total transaction of $742,648.50. Following the sale, the director now owns 22,377 shares in the company, valued at approximately $3,322,984.50. This trade represents a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

J Robert Kerrey also recently made the following trade(s):

• On Tuesday, March 11th, J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75.

Tenet Healthcare Trading Up 3.9%

Shares of NYSE:THC traded up $5.77 during trading on Monday, reaching $154.60. The stock had a trading volume of 1,705,166 shares, compared to its average volume of 1,539,179. The business has a fifty day moving average price of $129.95 and a 200-day moving average price of $135.93. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The stock has a market cap of $14.36 billion, a P/E ratio of 4.80, a PEG ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a fifty-two week low of $109.82 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping 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 firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the prior year, the business posted $3.22 earnings per share. Tenet Healthcare's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on THC shares. The Goldman Sachs Group lifted their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Royal Bank of Canada raised their price objective on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Guggenheim began coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They set a "buy" rating and a $165.00 price objective on the stock. 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. Finally, StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Tenet Healthcare presently has an average rating of "Moderate Buy" and an average target price of $174.63.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Tenet Healthcare in the first quarter worth $26,000. Wayfinding Financial LLC purchased a new position in shares of Tenet Healthcare in the first quarter valued at $28,000. N.E.W. Advisory Services LLC purchased a new position in shares of Tenet Healthcare in the first quarter valued at $31,000. Colonial Trust Co SC boosted its stake in shares of Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after purchasing an additional 114 shares during the period. Finally, GeoWealth Management LLC boosted its stake in shares of Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds 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.

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