Tenet Healthcare (NYSE:THC) Stock Price Down 6.8% on Insider Selling

Tenet Healthcare Co. (NYSE:THC - Get Free Report) was down 6.8% on Monday following insider selling activity. The stock traded as low as $159.63 and last traded at $159.73. Approximately 230,914 shares changed hands during trading, a decline of 85% from the average daily volume of 1,510,992 shares. The stock had previously closed at $171.46.

Specifically, EVP Paola M. Arbour sold 7,738 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 20,110 shares of the company's stock, valued at $3,479,030. This represents a 27.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard W. Fisher sold 836 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $173.16, for a total value of $144,761.76. Following the sale, the director now owns 11,292 shares in the company, valued at $1,955,322.72. This represents a 6.89% decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several brokerages recently weighed in on THC. Guggenheim initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price objective on the stock. Wall Street Zen cut shares of Tenet Healthcare from a "buy" rating to a "hold" rating in a research report on Saturday. Barclays lifted their price objective on Tenet Healthcare from $171.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. 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 report on Tuesday, April 15th. Finally, Royal Bank of Canada raised their price objective on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $180.18.

Tenet Healthcare Trading Down 7.0%

The company has a market capitalization of $14.82 billion, a PE ratio of 4.95, a P/E/G ratio of 1.02 and a beta of 1.65. 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 firm's 50 day moving average is $144.43 and its 200 day moving average is $136.91.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter last year, the firm posted $3.22 earnings per share. The firm's revenue 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 year.

Institutional Investors Weigh In On Tenet Healthcare

Several hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in 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 purchasing an additional 463,552 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tenet Healthcare by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock worth $268,591,000 after acquiring an additional 71,454 shares during the period. Ameriprise Financial Inc. increased its position in Tenet Healthcare by 348.4% during the first 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 last quarter. Dimensional Fund Advisors LP boosted its position in Tenet Healthcare by 12.2% in 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 during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Tenet Healthcare during the 1st quarter valued at about $218,549,000. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Company Profile

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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