Insider Selling: Tenet Healthcare (NYSE:THC) Insider Sells 13,322 Shares of Stock

Tenet Healthcare Corporation (NYSE:THC) insider R. Scott Ramsey sold 13,322 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $205.11, for a total transaction of $2,732,475.42. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Tenet Healthcare Price Performance

Shares of THC traded up $0.80 during midday trading on Friday, hitting $204.99. The company’s stock had a trading volume of 508,188 shares, compared to its average volume of 1,428,240. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.27. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $217.43. The stock has a market capitalization of $18.02 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 0.89 and a beta of 1.53. The company’s fifty day simple moving average is $198.15 and its two-hundred day simple moving average is $175.72.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.37. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the previous year, the business posted $2.93 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. As a group, equities analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Institutional Trading of Tenet Healthcare

Several institutional investors have recently added to or reduced their stakes in THC. SVB Wealth LLC acquired a new stake in shares of Tenet Healthcare in the 1st quarter valued at about $30,000. N.E.W. Advisory Services LLC acquired a new stake in Tenet Healthcare in the first quarter valued at approximately $31,000. Brooklyn Investment Group increased its holdings in shares of Tenet Healthcare by 908.7% during the first quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock valued at $31,000 after acquiring an additional 209 shares in the last quarter. William B. Walkup & Associates Inc. bought a new position in shares of Tenet Healthcare in the 3rd quarter worth $32,000. Finally, Chung Wu Investment Group LLC bought a new stake in Tenet Healthcare during the 2nd quarter valued at $35,000. 95.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. The Goldman Sachs Group started coverage on shares of Tenet Healthcare in a research note on Tuesday, October 14th. They set a “buy” rating and a $224.00 target price on the stock. Guggenheim boosted their price objective on Tenet Healthcare from $221.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Raymond James Financial set a $245.00 target price on Tenet Healthcare in a research report on Wednesday, October 29th. KeyCorp boosted their price target on Tenet Healthcare from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada raised their price objective on shares of Tenet Healthcare from $230.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.25.

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.