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 Tenet Healthcare stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $173.16, for a total transaction of $144,761.76. Following the transaction, the director now directly owns 11,292 shares in the company, valued at approximately $1,955,322.72. This trade represents a 6.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Tenet Healthcare Stock Down 0.3%

Tenet Healthcare stock opened at $171.36 on Friday. The company has a 50-day simple moving average of $144.43 and a 200-day simple moving average of $137.09. The firm 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 Co. has a one year low of $109.82 and a one year high of $174.14.

Tenet Healthcare (NYSE:THC) last released its quarterly 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. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.22 earnings per share. As a group, equities analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors have recently modified their holdings of THC. Strs Ohio acquired a new stake in Tenet Healthcare in the first quarter worth about $1,550,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Tenet Healthcare by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,969 shares of the company’s stock worth $37,252,000 after purchasing an additional 12,914 shares during the period. Empowered Funds LLC lifted its holdings in Tenet Healthcare by 19.6% in the first quarter. Empowered Funds LLC now owns 154,754 shares of the company’s stock worth $20,814,000 after purchasing an additional 25,323 shares during the period. United Services Automobile Association acquired a new stake in Tenet Healthcare in the 1st quarter valued at about $821,000. Finally, Fred Alger Management LLC acquired a new stake in Tenet Healthcare in the 1st quarter valued at about $2,652,000. Institutional investors own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Bank of America boosted their target price on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. TD Cowen assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They set a “buy” rating and a $175.00 target price on the stock. Stephens raised shares of Tenet Healthcare to a “strong-buy” rating in a research report on Monday, June 2nd. Guggenheim started coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They set a “buy” rating and a $165.00 target price on the stock. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $137.00 price target (down from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and an average price target 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.