J Robert Kerrey Sells 5,001 Shares of Tenet Healthcare Co. (NYSE:THC) Stock

Tenet Healthcare Co. (NYSE:THC) Director J Robert Kerrey sold 5,001 shares of the company’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the completion of the sale, the director now owns 22,377 shares of the company’s stock, valued at approximately $3,322,984.50. This represents a 18.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

J Robert Kerrey also recently made the following trade(s):

• On Tuesday, March 11th, J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75.

Tenet Healthcare Trading Up 2.3%

Shares of THC stock opened at $158.11 on Wednesday. The firm has a 50 day moving average price of $130.60 and a two-hundred day moving average price of $136.09. 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 capitalization of $14.69 billion, a PE ratio of 4.91, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a 12-month low of $109.82 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $1.25. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the business posted $3.22 earnings per share. As a group, analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

THC has been the subject of a number of recent analyst reports. Baird R W cut shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Truist Financial increased their target price on Tenet Healthcare from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank of Canada increased their target price on Tenet Healthcare from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. UBS Group raised their price objective on Tenet Healthcare from $217.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Finally, TD Cowen started coverage on Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price objective for the company. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.63.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. US Bancorp DE increased its holdings in shares of Tenet Healthcare by 0.8% during the first quarter. US Bancorp DE now owns 8,620 shares of the company’s stock worth $1,159,000 after purchasing an additional 68 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Tenet Healthcare by 5.3% during the first quarter. Lindbrook Capital LLC now owns 1,427 shares of the company’s stock worth $192,000 after purchasing an additional 72 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Tenet Healthcare by 9.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock worth $119,000 after purchasing an additional 80 shares during the period. Covestor Ltd increased its stake in Tenet Healthcare by 10.4% in the first quarter. Covestor Ltd now owns 873 shares of the company’s stock valued at $117,000 after acquiring an additional 82 shares during the last quarter. Finally, GeoWealth Management LLC increased its stake in Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after acquiring an additional 84 shares during the last quarter. 95.44% of the stock is owned by institutional investors.

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.