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 business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $148.50, for a total value of $742,648.50. Following the transaction, the director now directly owns 22,377 shares of the company’s stock, valued at $3,322,984.50. This represents a 18.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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 stock was sold at an average price of $125.43, for a total value of $1,194,720.75.

Tenet Healthcare Stock Up 2.3%

Shares of THC opened at $158.11 on Wednesday. The company has a market capitalization of $14.69 billion, a P/E ratio of 4.91, a PEG ratio of 1.02 and a beta of 1.63. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Co. has a one year low of $109.82 and a one year high of $171.20. The business’s 50 day simple moving average is $130.60 and its 200-day simple moving average is $136.09.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping 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 business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the previous year, the business earned $3.22 EPS. Tenet Healthcare’s revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on THC shares. Barclays boosted their price target on Tenet Healthcare from $161.00 to $171.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Baird R W lowered Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. The Goldman Sachs Group upped their price objective on Tenet Healthcare from $134.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Finally, Guggenheim began coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $174.63.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Tenet Healthcare by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock worth $268,591,000 after buying an additional 71,454 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tenet Healthcare by 12.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company’s stock worth $225,297,000 after buying an additional 181,667 shares in the last quarter. Nuveen LLC acquired a new position in Tenet Healthcare during the 1st quarter worth $218,549,000. Norges Bank acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at $190,819,000. Finally, Boston Partners lifted its stake in shares of Tenet Healthcare by 692.9% in the 1st quarter. Boston Partners now owns 1,162,642 shares of the company’s stock valued at $156,318,000 after purchasing an additional 1,016,010 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.