Tenet Healthcare Co. (NYSE:THC - Get Free Report) EVP Paola M. Arbour sold 7,738 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the sale, the executive vice president now owns 20,110 shares in the company, valued at $3,479,030. This trade represents a 27.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Tenet Healthcare Stock Performance
Tenet Healthcare stock traded down $0.48 during mid-day trading on Friday, reaching $171.36. The company had a trading volume of 1,351,072 shares, compared to its average volume of 1,523,627. The company has a 50 day moving average of $143.67 and a 200-day moving average of $136.96. 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 firm has a market cap of $15.92 billion, a price-to-earnings ratio of 5.32, a PEG ratio of 1.02 and a beta of 1.65. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 week high of $174.14.
Tenet Healthcare (NYSE:THC - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The business's revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.22 EPS. On average, sell-side analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of THC. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tenet Healthcare by 6.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock worth $1,021,736,000 after acquiring an additional 463,552 shares in the last quarter. Geode Capital Management LLC increased its holdings in Tenet Healthcare by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock valued at $268,591,000 after purchasing an additional 71,454 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Tenet Healthcare by 348.4% in the 1st quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company's stock valued at $263,905,000 after acquiring an additional 1,524,642 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Tenet Healthcare by 12.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock worth $225,297,000 after purchasing an additional 181,667 shares in the last quarter. Finally, Nuveen LLC bought a new position in Tenet Healthcare during the first quarter worth about $218,549,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently commented on THC shares. Wells Fargo & Company raised Tenet Healthcare from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $150.00 to $195.00 in a research note on Thursday, May 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. Bank of America upped their target price on Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Baird R W lowered Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group lifted their target price on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $180.18.
Read Our Latest Stock Analysis on Tenet Healthcare
About Tenet Healthcare
(
Get Free Report)
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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