Tenet Healthcare (NYSE:THC) Director Christopher Lynch Sells 3,952 Shares

Tenet Healthcare Corporation (NYSE:THC) Director Christopher Lynch sold 3,952 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total transaction of $697,093.28. Following the completion of the sale, the director owned 12,358 shares of the company’s stock, valued at $2,179,827.62. This trade represents a 24.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Tenet Healthcare Stock Up 1.2%

Tenet Healthcare stock opened at $179.57 on Friday. The stock has a market cap of $15.87 billion, a P/E ratio of 11.50, a P/E/G ratio of 0.76 and a beta of 1.52. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $185.25. The company’s 50-day moving average price is $168.67 and its two-hundred day moving average price is $149.61.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, beating the consensus estimate of $2.84 by $1.18. The firm had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.31 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Tenet Healthcare from $175.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, June 9th. Guggenheim raised their target price on shares of Tenet Healthcare from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. The Goldman Sachs Group raised 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. Royal Bank Of Canada raised their target price on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, Wall Street Zen raised shares of Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $191.88.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. bought a new position in Tenet Healthcare in the second quarter valued at approximately $598,000. Marex Group plc bought a new position in Tenet Healthcare in the second quarter valued at approximately $352,000. Advisory Services Network LLC increased its stake in Tenet Healthcare by 24.3% in the second quarter. Advisory Services Network LLC now owns 6,824 shares of the company’s stock valued at $1,101,000 after acquiring an additional 1,333 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Tenet Healthcare by 50.9% during the second quarter. Geneos Wealth Management Inc. now owns 264 shares of the company’s stock worth $46,000 after buying an additional 89 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in shares of Tenet Healthcare during the second quarter worth $2,102,000. 95.44% of the stock is owned by institutional investors.

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.