Tenet Healthcare Co. (NYSE:THC) Director Richard W. Fisher Sells 836 Shares

Tenet Healthcare Co. (NYSE:THC) Director Richard W. Fisher sold 836 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.16, for a total transaction of $144,761.76. Following the sale, the director now directly owns 11,292 shares of the company’s stock, valued at $1,955,322.72. This represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Tenet Healthcare Trading Down 0.3%

NYSE:THC opened at $171.36 on Friday. The stock’s 50 day moving average price is $144.43 and its 200 day moving average price is $137.09. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 week high of $174.14. The company has a market capitalization of $15.92 billion, a P/E ratio of 5.32, 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 quick ratio of 1.70 and a current ratio of 1.78.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter last year, the company posted $3.22 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenet Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in Tenet Healthcare by 6.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company’s stock valued at $1,021,736,000 after purchasing an additional 463,552 shares during the last quarter. Geode Capital Management LLC grew its holdings in Tenet Healthcare by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock valued at $268,591,000 after purchasing an additional 71,454 shares during the last quarter. Ameriprise Financial Inc. grew its holdings 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 purchasing an additional 1,524,642 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Tenet Healthcare by 12.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company’s stock valued at $225,297,000 after acquiring an additional 181,667 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Tenet Healthcare in the first quarter valued at approximately $218,549,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Bank of America upped 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. The Goldman Sachs Group upped their price objective on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Wells Fargo & Company upgraded Tenet Healthcare from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $150.00 to $195.00 in a report on Thursday, May 29th. Truist Financial upped their target price on Tenet Healthcare from $175.00 to $190.00 and gave the company a “buy” rating in a report on Monday, May 12th. Finally, Barclays upped their target price on Tenet Healthcare from $171.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, June 2nd. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.18.

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.