James L. Bierman Sells 4,613 Shares of Tenet Healthcare Co. (NYSE:THC) Stock

Tenet Healthcare Co. (NYSE:THC - Get Free Report) Director James L. Bierman sold 4,613 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $170.00, for a total value of $784,210.00. Following the sale, the director now directly owns 35,271 shares in the company, valued at $5,996,070. This represents a 11.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Tenet Healthcare Trading Up 0.6%

Shares of THC traded up $0.98 during trading hours on Tuesday, hitting $171.10. The stock had a trading volume of 75,912 shares, compared to its average volume of 1,518,283. The company's fifty day simple moving average is $141.45 and its 200 day simple moving average is $136.36. Tenet Healthcare Co. has a 12-month low of $109.82 and a 12-month high of $173.34. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The firm has a market cap of $15.89 billion, a P/E ratio of 5.31, a P/E/G ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.11 by $1.25. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The business's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.22 earnings per share. Equities research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Institutional Trading of Tenet Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio bought a new stake in Tenet Healthcare in the first quarter valued at $1,550,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Tenet Healthcare by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,969 shares of the company's stock worth $37,252,000 after buying an additional 12,914 shares during the period. Empowered Funds LLC grew its holdings in Tenet Healthcare by 19.6% in the 1st quarter. Empowered Funds LLC now owns 154,754 shares of the company's stock worth $20,814,000 after buying an additional 25,323 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Tenet Healthcare during the first quarter valued at $821,000. Finally, Fred Alger Management LLC acquired a new stake in shares of Tenet Healthcare in the 1st quarter worth approximately $2,652,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on THC. Truist Financial boosted their price objective on Tenet Healthcare from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. Barclays lifted their target price on Tenet Healthcare from $171.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday. The Goldman Sachs Group increased their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $137.00 price objective (down previously from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Tenet Healthcare presently has an average rating of "Moderate Buy" and an average target price of $180.18.

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.