Tenet Healthcare Co. (NYSE:THC) EVP Paola M. Arbour Sells 7,738 Shares

Tenet Healthcare Co. (NYSE:THC) EVP Paola M. Arbour sold 7,738 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.00, for a total value of $1,338,674.00. Following the completion of the sale, the executive vice president now owns 20,110 shares in the company, valued at approximately $3,479,030. This trade represents a 27.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Tenet Healthcare Stock Performance

NYSE:THC opened at $171.36 on Friday. Tenet Healthcare Co. has a 1 year low of $109.82 and a 1 year high of $174.14. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The business has a fifty day simple moving average of $144.43 and a two-hundred day simple moving average of $137.09. 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.

Tenet Healthcare (NYSE:THC) last announced 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 company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the prior year, the company posted $3.22 EPS. Tenet Healthcare’s revenue was down 2.5% compared to the same quarter last year. On average, analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in shares of 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 worth $1,021,736,000 after acquiring an additional 463,552 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tenet Healthcare by 3.5% during the 4th 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. raised its position in Tenet Healthcare by 348.4% in the 1st quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company’s stock worth $263,905,000 after purchasing an additional 1,524,642 shares during the period. Dimensional Fund Advisors LP lifted its stake in Tenet Healthcare by 12.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company’s stock worth $225,297,000 after purchasing an additional 181,667 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Tenet Healthcare during the first quarter valued at about $218,549,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company upgraded Tenet Healthcare from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $150.00 to $195.00 in a report on Thursday, May 29th. Wall Street Zen lowered Tenet Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday. Royal Bank of Canada increased their price objective on Tenet Healthcare from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. UBS Group boosted their target price on shares of Tenet Healthcare from $217.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $137.00 price target (down previously from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tenet Healthcare 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.