Tenet Healthcare Co. (NYSE:THC) EVP Sells $623,760.00 in Stock

Tenet Healthcare Co. (NYSE:THC) EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Tenet Healthcare Stock Up 0.7 %

Shares of Tenet Healthcare stock opened at $156.13 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 2.35. The company’s fifty day simple moving average is $159.38 and its two-hundred day simple moving average is $142.39. The company has a market cap of $14.85 billion, a P/E ratio of 5.00, a PEG ratio of 0.69 and a beta of 2.15. Tenet Healthcare Co. has a 12-month low of $52.08 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.60. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. Tenet Healthcare’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.44 EPS. Research analysts anticipate that Tenet Healthcare Co. will post 11.38 EPS for the current year.

Tenet Healthcare declared that its Board of Directors has authorized a stock buyback program on Wednesday, July 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 10.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors have recently made changes to their positions in THC. Mirae Asset Global Investments Co. Ltd. increased its holdings in Tenet Healthcare by 0.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock worth $1,325,000 after acquiring an additional 90 shares in the last quarter. Optas LLC boosted its position in shares of Tenet Healthcare by 3.4% during the 3rd quarter. Optas LLC now owns 2,821 shares of the company’s stock valued at $469,000 after acquiring an additional 93 shares during the last quarter. Signaturefd LLC lifted its position in Tenet Healthcare by 17.6% in the third quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $104,000 after buying an additional 94 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Tenet Healthcare by 20.7% in the second quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock worth $74,000 after buying an additional 96 shares during the last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in shares of Tenet Healthcare by 5.1% during the third quarter. First Citizens Bank & Trust Co. now owns 2,226 shares of the company’s stock worth $370,000 after purchasing an additional 109 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on THC shares. Raymond James increased their target price on shares of Tenet Healthcare from $130.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Citigroup increased their target price on shares of Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. KeyCorp started coverage on shares of Tenet Healthcare in a research note on Friday, October 11th. They set an “overweight” rating and a $200.00 target price on the stock. The Goldman Sachs Group increased their target price on shares of Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Truist Financial reissued a “buy” rating and set a $190.00 target price (up from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Tenet Healthcare currently has an average rating of “Buy” and a consensus price target of $163.65.

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.