Tenet Healthcare Co. (NYSE:THC) EVP Audrey T. Andrews sold 65,408 shares of the stock in a transaction that occurred on Thursday, August 12th. The shares were sold at an average price of $69.05, for a total transaction of $4,516,422.40. The sale was disclosed in a filing with the SEC, which is available at this link.
NYSE THC opened at $70.34 on Wednesday. Tenet Healthcare Co. has a one year low of $21.34 and a one year high of $74.40. The stock has a 50-day simple moving average of $68.83. The company has a market cap of $7.53 billion, a P/E ratio of 17.59 and a beta of 2.61. The company has a debt-to-equity ratio of 12.91, a current ratio of 1.46 and a quick ratio of 1.39.
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Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, July 20th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.52. Tenet Healthcare had a return on equity of 60.15% and a net margin of 2.26%. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the company posted $1.26 EPS. The business’s quarterly revenue was up 35.8% compared to the same quarter last year. On average, equities research analysts anticipate that Tenet Healthcare Co. will post 5.63 EPS for the current year.
THC has been the topic of a number of recent research reports. Truist Securities increased their price target on shares of Tenet Healthcare from $56.00 to $60.00 in a research report on Thursday, April 22nd. Truist raised their target price on shares of Tenet Healthcare from $56.00 to $60.00 in a report on Thursday, April 22nd. raised their price target on Tenet Healthcare from $58.00 to $65.00 in a research note on Thursday, April 22nd. Deutsche Bank Aktiengesellschaft raised their price target on Tenet Healthcare from $69.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, July 23rd. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Tenet Healthcare in a research report on Friday, June 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. Tenet Healthcare has an average rating of “Buy” and a consensus price target of $63.71.
Several hedge funds have recently bought and sold shares of THC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Tenet Healthcare by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,576 shares of the company’s stock worth $2,383,000 after purchasing an additional 148 shares in the last quarter. Profund Advisors LLC grew its position in Tenet Healthcare by 1.6% in the 2nd quarter. Profund Advisors LLC now owns 10,439 shares of the company’s stock valued at $701,000 after acquiring an additional 166 shares during the last quarter. CWM Advisors LLC grew its position in Tenet Healthcare by 3.1% in the 2nd quarter. CWM Advisors LLC now owns 6,402 shares of the company’s stock valued at $429,000 after acquiring an additional 194 shares during the last quarter. Carolina Wealth Advisors LLC grew its position in Tenet Healthcare by 18.2% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 1,420 shares of the company’s stock valued at $95,000 after acquiring an additional 219 shares during the last quarter. Finally, The PNC Financial Services Group Inc. grew its position in Tenet Healthcare by 8.1% in the 1st quarter. The PNC Financial Services Group Inc. now owns 2,971 shares of the company’s stock valued at $155,000 after acquiring an additional 222 shares during the last quarter. 86.87% of the stock is currently owned by hedge funds and other institutional investors.
Tenet Healthcare Company Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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