Stock Traders Purchase Large Volume of Call Options on Tenet Healthcare (NYSE:THC)

Tenet Healthcare Co. (NYSE:THC - Get Free Report) was the target of some unusual options trading activity on Tuesday. Investors bought 3,041 call options on the company. This is an increase of approximately 8% compared to the typical volume of 2,804 call options.

Insider Activity

In related news, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the transaction, the director now owns 20,127 shares of the company's stock, valued at $1,775,402.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Richard J. Mark sold 14,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the transaction, the director now owns 33,303 shares of the company's stock, valued at $3,296,330.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the transaction, the director now directly owns 20,127 shares of the company's stock, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,268 shares of company stock valued at $4,944,810. Insiders own 0.93% of the company's stock.

Institutional Investors Weigh In On Tenet Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB boosted its holdings in Tenet Healthcare by 324.3% in the 4th quarter. Nordea Investment Management AB now owns 40,066 shares of the company's stock valued at $3,030,000 after purchasing an additional 30,623 shares during the period. First Eagle Investment Management LLC boosted its holdings in Tenet Healthcare by 37.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 176,404 shares of the company's stock valued at $11,623,000 after purchasing an additional 47,952 shares during the period. Bleakley Financial Group LLC boosted its holdings in Tenet Healthcare by 6.0% in the 4th quarter. Bleakley Financial Group LLC now owns 91,159 shares of the company's stock valued at $6,889,000 after purchasing an additional 5,198 shares during the period. Vanguard Group Inc. boosted its holdings in Tenet Healthcare by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company's stock valued at $720,671,000 after purchasing an additional 63,253 shares during the period. Finally, TD Asset Management Inc bought a new stake in Tenet Healthcare in the 3rd quarter valued at about $1,146,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Trading Up 13.3 %

Shares of NYSE THC traded up $13.15 during midday trading on Tuesday, reaching $112.30. 3,866,059 shares of the stock were exchanged, compared to its average volume of 1,167,617. The business has a 50-day simple moving average of $98.38 and a two-hundred day simple moving average of $81.03. The company has a market capitalization of $11.14 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 3.08 and a beta of 2.08. Tenet Healthcare has a 12 month low of $51.04 and a 12 month high of $112.30. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $1.10. The company had revenue of $5.38 billion for the quarter, compared to analysts' expectations of $5.28 billion. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.96 earnings per share. As a group, equities research analysts expect that Tenet Healthcare will post 6.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on THC. Wells Fargo & Company raised their price objective on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Thursday, March 28th. Barclays began coverage on shares of Tenet Healthcare in a report on Wednesday, March 6th. They set an "overweight" rating and a $113.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a "buy" rating in a report on Friday, April 12th. Wolfe Research raised 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. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $104.00 price target on shares of Tenet Healthcare in a research note on Wednesday, April 10th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $100.38.

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.