Tenet Healthcare (NYSE:THC) Director Sells $430,089.66 in Stock

Tenet Healthcare Corporation (NYSE:THC) Director Nadja West sold 2,178 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $197.47, for a total transaction of $430,089.66. Following the completion of the transaction, the director owned 28,480 shares in the company, valued at approximately $5,623,945.60. The trade was a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Tenet Healthcare Price Performance

NYSE THC traded down $1.76 during trading hours on Wednesday, hitting $195.12. The company had a trading volume of 927,469 shares, compared to its average volume of 983,765. The firm has a 50 day simple moving average of $202.87 and a 200 day simple moving average of $186.01. The firm has a market capitalization of $17.15 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 0.86 and a beta of 1.44. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.64 and a current ratio of 1.71. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $222.82.

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

Institutional Trading of Tenet Healthcare

Several large investors have recently modified their holdings of the company. AlphaQuest LLC lifted its stake in Tenet Healthcare by 230.8% in the second quarter. AlphaQuest LLC now owns 1,763 shares of the company’s stock worth $310,000 after purchasing an additional 1,230 shares during the last quarter. 111 Capital purchased a new stake in shares of Tenet Healthcare in the second quarter worth approximately $244,000. Cerity Partners LLC lifted its stake in shares of Tenet Healthcare by 10.4% during the 2nd quarter. Cerity Partners LLC now owns 120,623 shares of the company’s stock worth $21,230,000 after acquiring an additional 11,395 shares during the last quarter. Royal Bank of Canada grew its position in Tenet Healthcare by 34.0% in the 1st quarter. Royal Bank of Canada now owns 119,349 shares of the company’s stock valued at $16,052,000 after acquiring an additional 30,281 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. increased its stake in Tenet Healthcare by 22.2% in the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 82,813 shares of the company’s stock worth $14,575,000 after purchasing an additional 15,019 shares during the period. Institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on THC. Barclays raised their target price on Tenet Healthcare from $229.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, November 21st. The Goldman Sachs Group initiated coverage on Tenet Healthcare in a research note on Tuesday, October 14th. They set a “buy” rating and a $224.00 target price on the stock. Truist Financial reaffirmed a “buy” rating and issued a $240.00 price target (up previously from $225.00) on shares of Tenet Healthcare in a research note on Monday, November 3rd. Zacks Research lowered shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, UBS Group boosted their price target on shares of Tenet Healthcare from $238.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.88.

About Tenet Healthcare

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.