Tenet Healthcare Co. (NYSE:THC) Director James L. Bierman Sells 13,836 Shares

Tenet Healthcare Co. (NYSE:THC) Director James L. Bierman sold 13,836 shares of Tenet Healthcare stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $159.58, for a total transaction of $2,207,948.88. Following the completion of the sale, the director now owns 41,435 shares of the company’s stock, valued at approximately $6,612,197.30. The trade was a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Tenet Healthcare Stock Performance

NYSE:THC opened at $166.42 on Friday. The stock’s 50-day moving average is $139.95 and its 200-day moving average is $136.59. The stock has a market cap of $15.46 billion, a P/E ratio of 5.16, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a 1-year low of $109.82 and a 1-year high of $171.20. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the prior year, the company posted $3.22 EPS. The company’s revenue was down 2.5% on a year-over-year basis. Equities research analysts anticipate 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 several analyst reports. The Goldman Sachs Group lifted their price objective on Tenet Healthcare from $134.00 to $154.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Guggenheim initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They set a “buy” rating and a $165.00 price objective for the company. Royal Bank of Canada raised their target price on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Wells Fargo & Company raised shares of Tenet Healthcare from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $150.00 to $195.00 in a report on Thursday. Finally, Bank of America lifted their price objective on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $177.59.

Institutional Investors Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Tenet Healthcare during the 1st quarter valued at approximately $26,000. Wayfinding Financial LLC acquired a new stake in shares of Tenet Healthcare during the first quarter worth $28,000. SVB Wealth LLC bought a new position in Tenet Healthcare during the first quarter worth $30,000. N.E.W. Advisory Services LLC bought a new stake in Tenet Healthcare during the first quarter valued at $31,000. Finally, Brooklyn Investment Group grew its holdings in Tenet Healthcare by 908.7% during the 1st quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock worth $31,000 after acquiring an additional 209 shares during the period. Institutional investors and hedge funds 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.