Paola M. Arbour Sells 6,461 Shares of Tenet Healthcare Co. (NYSE:THC) Stock

Tenet Healthcare Co. (NYSE:THC) EVP Paola M. Arbour sold 6,461 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $160.20, for a total transaction of $1,035,052.20. Following the sale, the executive vice president now owns 27,848 shares of the company’s stock, valued at approximately $4,461,249.60. The trade was a 18.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $165.55 on Friday. Tenet Healthcare Co. has a fifty-two week low of $109.82 and a fifty-two week high of $171.20. The company has a 50 day simple moving average of $132.78 and a two-hundred day simple moving average of $136.29. The company has a market capitalization of $15.38 billion, a price-to-earnings ratio of 5.14, a P/E/G ratio of 1.02 and a beta of 1.63. 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 posted its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter in the prior year, the company posted $3.22 earnings per share. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on THC. Bank of America increased their target price on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group increased their target price on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Guggenheim began coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They set a “buy” rating and a $165.00 target price for the company. Barclays increased their target price on shares of Tenet Healthcare from $161.00 to $171.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $137.00 price target (down from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.94.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors have recently made changes to their positions in THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Tenet Healthcare in the first quarter worth approximately $26,000. Wayfinding Financial LLC purchased a new stake in Tenet Healthcare in the first quarter worth approximately $28,000. SVB Wealth LLC purchased a new stake in Tenet Healthcare in the first quarter worth approximately $30,000. Colonial Trust Co SC boosted its holdings in Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock worth $31,000 after purchasing an additional 114 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Tenet Healthcare during the 1st quarter worth $31,000. Hedge funds and other institutional investors 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.