James L. Bierman Sells 13,836 Shares of Tenet Healthcare Co. (NYSE:THC) Stock

Tenet Healthcare Co. (NYSE:THC - Get Free Report) Director James L. Bierman sold 13,836 shares of Tenet Healthcare stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $159.58, for a total value of $2,207,948.88. Following the sale, the director now owns 41,435 shares of the company's stock, valued at approximately $6,612,197.30. This trade represents a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Tenet Healthcare Stock Up 1.5%

NYSE THC traded up $2.56 during trading on Friday, hitting $168.82. The company's stock had a trading volume of 2,250,200 shares, compared to its average volume of 1,516,611. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The company has a market cap of $15.68 billion, a PE ratio of 5.24, a P/E/G ratio of 1.02 and a beta of 1.63. The business's 50 day simple moving average is $140.71 and its 200-day simple moving average is $136.62. 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 earnings per share for the quarter, topping the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter last year, the company earned $3.22 earnings per share. The company's quarterly revenue was down 2.5% on a year-over-year basis. On average, equities analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors and hedge funds have recently modified their holdings of THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Tenet Healthcare during the first quarter worth about $26,000. Wayfinding Financial LLC acquired a new stake in shares of Tenet Healthcare during the first quarter worth about $28,000. SVB Wealth LLC acquired a new stake in shares of Tenet Healthcare during the first quarter worth about $30,000. Colonial Trust Co SC lifted its holdings in shares of Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after purchasing an additional 114 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new position in Tenet Healthcare in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on THC. Robert W. Baird restated a "neutral" rating and set a $137.00 price target (down previously from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Barclays raised their price target on Tenet Healthcare from $161.00 to $171.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Truist Financial raised their price target on Tenet Healthcare from $175.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, May 12th. The Goldman Sachs Group raised their price target on Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Finally, TD Cowen initiated coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They set a "buy" rating and a $175.00 price target on the stock. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $177.59.

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.