Tenet Healthcare (NYSE:THC) Trading Down 3.5%

Tenet Healthcare Co. (NYSE:THC)’s stock price was down 3.5% during trading on Friday . The company traded as low as $132.69 and last traded at $133.44. Approximately 295,223 shares were traded during trading, a decline of 75% from the average daily volume of 1,201,951 shares. The stock had previously closed at $138.30.

Analysts Set New Price Targets

A number of equities analysts recently commented on THC shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $104.00 price target on shares of Tenet Healthcare in a research report on Wednesday, April 10th. Truist Financial reissued a “buy” rating and issued a $130.00 target price (up from $120.00) on shares of Tenet Healthcare in a report on Wednesday, May 1st. Mizuho reissued a “buy” rating and issued a $130.00 target price (up from $118.00) on shares of Tenet Healthcare in a report on Wednesday, May 1st. StockNews.com raised shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Friday, June 7th. Finally, Robert W. Baird started coverage on shares of Tenet Healthcare in a report on Thursday, May 30th. They issued an “outperform” rating and a $153.00 target price on the stock. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $120.71.

Tenet Healthcare Trading Down 3.8 %

The firm’s 50-day moving average is $127.08 and its 200 day moving average is $102.58. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.58. The firm has a market capitalization of $12.99 billion, a price-to-earnings ratio of 5.16, a P/E/G ratio of 1.37 and a beta of 2.12.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping the consensus estimate of $1.45 by $1.77. The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $1.42 EPS. On average, equities analysts predict that Tenet Healthcare Co. will post 8.55 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other news, EVP Thomas W. Arnst sold 8,148 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total value of $945,982.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total value of $945,982.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard W. Fisher sold 2,500 shares of Tenet Healthcare stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $123.20, for a total transaction of $308,000.00. Following the completion of the sale, the director now owns 17,627 shares of the company’s stock, valued at approximately $2,171,646.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,691 shares of company stock worth $3,117,909. Company insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

Several hedge funds have recently modified their holdings of the stock. Hamilton Wealth LLC bought a new stake in shares of Tenet Healthcare in the 1st quarter valued at $469,000. Boston Partners increased its stake in Tenet Healthcare by 230.4% during the 1st quarter. Boston Partners now owns 119,348 shares of the company’s stock valued at $12,527,000 after purchasing an additional 83,231 shares in the last quarter. Cetera Advisors LLC bought a new stake in Tenet Healthcare during the 1st quarter valued at $227,000. Cetera Investment Advisers bought a new stake in Tenet Healthcare during the 1st quarter valued at $1,772,000. Finally, Farallon Capital Management LLC increased its stake in Tenet Healthcare by 70.1% during the 1st quarter. Farallon Capital Management LLC now owns 637,442 shares of the company’s stock valued at $67,002,000 after purchasing an additional 262,600 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

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.