Tenet Healthcare (NYSE:THC) Stock Price Down 5.7%

Tenet Healthcare Co. (NYSE:THC)’s share price fell 5.7% on Thursday . The stock traded as low as $90.54 and last traded at $90.55. 352,631 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 1,103,420 shares. The stock had previously closed at $96.00.

Analyst Upgrades and Downgrades

Several analysts have commented on THC shares. Deutsche Bank Aktiengesellschaft upped their price objective on Tenet Healthcare from $100.00 to $126.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Mizuho upped their price target on Tenet Healthcare from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Royal Bank of Canada upped their price target on Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Wolfe Research upgraded Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 target price on the stock in a report on Wednesday, March 27th. Finally, TheStreet upgraded Tenet Healthcare from a “c+” rating to a “b-” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $100.38.

Tenet Healthcare Trading Down 4.0 %

The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 3.15 and a beta of 2.08. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.42 and a current ratio of 1.51. The firm has a fifty day moving average of $97.33 and a 200-day moving average of $78.92.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $1.10. The firm had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.28 billion. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.96 EPS. As a group, equities analysts predict that Tenet Healthcare Co. will post 6.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard J. Mark sold 14,000 shares of Tenet Healthcare stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares in the company, valued at $3,296,330.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Richard J. Mark sold 14,000 shares of Tenet Healthcare stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares in the company, valued at $3,296,330.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the completion of the transaction, the executive vice president now owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,268 shares of company stock worth $4,944,810. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Tenet Healthcare

Several large investors have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of Tenet Healthcare in the first quarter worth $29,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Tenet Healthcare by 46.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company’s stock valued at $31,000 after buying an additional 199 shares during the last quarter. Belpointe Asset Management LLC raised its position in Tenet Healthcare by 94.1% in the first quarter. Belpointe Asset Management LLC now owns 588 shares of the company’s stock worth $35,000 after purchasing an additional 285 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Tenet Healthcare by 1,063.9% during the first quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock worth $36,000 after buying an additional 383 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Tenet Healthcare during the first quarter worth approximately $36,000. 95.44% of the stock is owned by institutional investors and hedge funds.

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.