Tenet Healthcare (NYSE:THC) Shares Gap Down Following Insider Selling

Tenet Healthcare Corporation (NYSE:THC)’s share price gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $205.26, but opened at $192.00. Tenet Healthcare shares last traded at $195.95, with a volume of 200,400 shares.

Specifically, Director Tammy Romo sold 645 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $205.20, for a total transaction of $132,354.00. Following the transaction, the director directly owned 34,866 shares in the company, valued at $7,154,503.20. The trade was a 1.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R. Scott Ramsey sold 13,322 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $205.11, for a total transaction of $2,732,475.42. Additional details regarding this sale are available in the official SEC disclosure. In other Tenet Healthcare news, Director Tammy Romo sold 11,756 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $204.07, for a total value of $2,399,046.92. Following the sale, the director owned 35,511 shares of the company’s stock, valued at $7,246,729.77. This trade represents a 24.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analyst Weigh In

THC has been the topic of a number of analyst reports. Bank of America upped their price target on Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Morgan Stanley set a $232.00 price target on shares of Tenet Healthcare and gave the company an “overweight” rating in a report on Wednesday, October 29th. Wall Street Zen raised shares of Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a report on Saturday, July 26th. Raymond James Financial set a $245.00 price target on Tenet Healthcare in a research report on Wednesday, October 29th. Finally, Truist Financial reissued a “buy” rating and issued a $240.00 price objective (up previously from $225.00) on shares of Tenet Healthcare in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $226.25.

Tenet Healthcare Stock Down 4.0%

The stock has a market capitalization of $17.31 billion, a P/E ratio of 13.50, a PEG ratio of 0.89 and a beta of 1.53. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.63 and a current ratio of 1.71. The firm’s 50-day simple moving average is $198.15 and its 200 day simple moving average is $176.53.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $5.26 billion. During the same quarter in the previous year, the firm earned $2.93 EPS. The business’s quarterly revenue 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, research analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Institutional Trading of Tenet Healthcare

Several large investors have recently modified their holdings of the stock. SVB Wealth LLC acquired a new position in Tenet Healthcare in the first quarter valued at about $30,000. N.E.W. Advisory Services LLC bought a new stake in Tenet Healthcare during the 1st quarter worth approximately $31,000. Brooklyn Investment Group lifted its holdings in Tenet Healthcare by 908.7% during the 1st quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock worth $31,000 after buying an additional 209 shares during the period. William B. Walkup & Associates Inc. acquired a new stake in shares of Tenet Healthcare in the third quarter valued at about $32,000. Finally, Chung Wu Investment Group LLC acquired a new position in shares of Tenet Healthcare in the second quarter worth approximately $35,000. 95.44% of the stock is owned by institutional investors and hedge funds.

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.