Tenet Healthcare (NYSE:THC) Shares Down 4.5% - Should You Sell?

Tenet Healthcare Co. (NYSE:THC - Get Free Report) fell 4.5% during mid-day trading on Monday . The stock traded as low as $154.33 and last traded at $157.01. 1,514,712 shares traded hands during trading, a decline of 2% from the average session volume of 1,549,097 shares. The stock had previously closed at $164.37.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Morgan Stanley increased their price objective on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. 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. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Sunday. Finally, Stephens raised Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $182.24.

Tenet Healthcare Stock Down 0.2%

The firm has a fifty day moving average price of $148.09 and a 200 day moving average price of $137.59. 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 company has a market cap of $15.24 billion, a P/E ratio of 5.09, a PEG ratio of 1.02 and a beta of 1.65.

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, beating analysts' consensus estimates of $3.11 by $1.25. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Tenet Healthcare's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.22 earnings per share. Equities research analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $148.50, for a total value of $742,648.50. Following the completion of the transaction, the director now directly owns 22,377 shares of the company's stock, valued at approximately $3,322,984.50. The trade was a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paola M. Arbour sold 7,738 shares of Tenet Healthcare stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.00, for a total value of $1,338,674.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 54,121 shares of company stock worth $8,846,305 in the last three months. Insiders own 0.81% of the company's stock.

Institutional Investors Weigh In On Tenet Healthcare

Several large investors have recently made changes to their positions in the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $5,892,000. Asset Management One Co. Ltd. increased its holdings in Tenet Healthcare by 541.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 9,478 shares of the company's stock worth $1,213,000 after buying an additional 8,000 shares during the last quarter. Truist Financial Corp increased its stake in shares of Tenet Healthcare by 1.6% during the 4th quarter. Truist Financial Corp now owns 12,407 shares of the company's stock worth $1,566,000 after purchasing an additional 198 shares during the last quarter. Alberta Investment Management Corp increased its holdings in shares of Tenet Healthcare by 212.5% during the 4th quarter. Alberta Investment Management Corp now owns 25,000 shares of the company's stock worth $3,156,000 after acquiring an additional 17,000 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Tenet Healthcare by 40.6% during the 4th quarter. LPL Financial LLC now owns 67,136 shares of the company's stock worth $8,475,000 after buying an additional 19,389 shares during the period. Institutional investors own 95.44% of the company's stock.

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.

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