Tenet Healthcare Co. (NYSE:THC) Director Sells $257,031.72 in Stock

Tenet Healthcare Co. (NYSE:THC - Get Free Report) Director James L. Bierman sold 1,551 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $165.72, for a total transaction of $257,031.72. Following the completion of the transaction, the director now owns 39,884 shares in the company, valued at approximately $6,609,576.48. This represents a 3.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Tenet Healthcare Stock Performance

THC stock traded up $2.56 during mid-day trading on Friday, reaching $168.82. 2,250,200 shares of the stock traded hands, compared to its average volume of 1,516,611. 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 business has a 50-day moving average of $140.71 and a two-hundred day moving average of $136.62. The firm has a market capitalization of $15.68 billion, a PE ratio of 5.24, a P/E/G ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 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 return on equity of 21.88% and a net margin of 15.48%. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the previous year, the business posted $3.22 EPS. The company's revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Institutional Trading of Tenet Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of THC. New Wave Wealth Advisors LLC bought a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $343,000. Swedbank AB lifted its position in shares of Tenet Healthcare by 100.0% in the 4th quarter. Swedbank AB now owns 40,000 shares of the company's stock worth $5,049,000 after acquiring an additional 20,000 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $410,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at $5,892,000. Finally, abrdn plc lifted its position in Tenet Healthcare by 29.0% in the fourth quarter. abrdn plc now owns 98,229 shares of the company's stock worth $12,320,000 after purchasing an additional 22,066 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

THC has been the topic of a number of research reports. Royal Bank of Canada upped their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Cantor Fitzgerald reiterated an "overweight" rating and set a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. Guggenheim started coverage on Tenet Healthcare in a report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price objective on the stock. Robert W. Baird reiterated a "neutral" rating and issued a $137.00 target price (down from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Finally, Truist Financial raised their price target on shares of Tenet Healthcare from $175.00 to $190.00 and gave the company a "buy" rating in a report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Tenet Healthcare presently has an average 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.