Tenet Healthcare (NYSE:THC) EVP Sells $2,653,144.20 in Stock

Key Points

• Tenet Healthcare EVP Paola Arbour sold 10,878 shares at an average price of $243.90, totaling $2.65 million and reducing her ownership by 37.14% to 18,413 shares.
• Tenet shares rose 7.8% to $262.36, near their 52-week high, after the company reported quarterly EPS of $6.12 versus analysts’ estimate of $4.26 and revenue of $6.04 billion, up 6.8% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $264.45; institutional investors own 95.44% of the company.

Tenet Healthcare Corporation (NYSE:THC - Get Free Report) EVP Paola Arbour sold 10,878 shares of the firm's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $243.90, for a total value of $2,653,144.20. Following the completion of the transaction, the executive vice president owned 18,413 shares in the company, valued at $4,490,930.70. This represents a 37.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tenet Healthcare Trading Up 7.8%

NYSE:THC traded up $19.00 during mid-day trading on Tuesday, hitting $262.36. The company had a trading volume of 1,831,275 shares, compared to its average volume of 1,409,805. The firm has a market cap of $22.60 billion, a P/E ratio of 10.12, a P/E/G ratio of 1.37 and a beta of 1.27. Tenet Healthcare Corporation has a fifty-two week low of $155.02 and a fifty-two week high of $262.68. The business's fifty day moving average is $187.59 and its two-hundred day moving average is $198.22. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.35 and a current ratio of 1.41.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The company reported $6.12 EPS for the quarter, beating analysts' consensus estimates of $4.26 by $1.86. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The company had revenue of $6.04 billion during the quarter, compared to analysts' expectations of $5.43 billion. During the same period in the prior year, the business posted $4.02 EPS. Tenet Healthcare's revenue was up 6.8% on a year-over-year basis. As a group, research analysts expect that Tenet Healthcare Corporation will post 20.9 earnings per share for the current year.

Institutional Trading of Tenet Healthcare

Several hedge funds and other institutional investors have recently modified their holdings of THC. Triumph Capital Management acquired a new position in shares of Tenet Healthcare during the third quarter worth about $25,000. Activest Wealth Management bought a new stake in Tenet Healthcare in the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new position in Tenet Healthcare during the 4th quarter worth approximately $29,000. Canada Pension Plan Investment Board bought a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Tenet Healthcare by 146.2% in the fourth quarter. Meeder Asset Management Inc. now owns 192 shares of the company's stock valued at $38,000 after purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Sunday. Wells Fargo & Company boosted their target price on Tenet Healthcare from $213.00 to $231.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. TD Cowen raised their price target on Tenet Healthcare from $233.00 to $263.00 and gave the stock a "buy" rating in a research report on Monday. Weiss Ratings lowered Tenet Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, June 2nd. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Tenet Healthcare in a research note on Tuesday. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Tenet Healthcare has a consensus rating of "Moderate Buy" and an average price target of $264.45.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation NYSE: THC is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet's operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.

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