Tenet Healthcare (NYSE:THC) Director Sells $3,167,277.20 in Stock

Tenet Healthcare Corporation (NYSE:THC) Director J. Robert Kerrey sold 12,010 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $263.72, for a total transaction of $3,167,277.20. Following the transaction, the director directly owned 4,794 shares of the company’s stock, valued at $1,264,273.68. The trade was a 71.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Tenet Healthcare Stock Down 0.2%

Shares of NYSE:THC opened at $261.46 on Friday. The firm has a market cap of $21.05 billion, a P/E ratio of 10.08, a P/E/G ratio of 1.00 and a beta of 1.23. Tenet Healthcare Corporation has a 12-month low of $157.58 and a 12-month high of $283.05. The business has a fifty day simple moving average of $250.64 and a 200 day simple moving average of $213.29. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.26 by $1.86. The company had revenue of $6.04 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.02 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Analysts predict that Tenet Healthcare Corporation will post 21.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on THC. Guggenheim upped their price objective on shares of Tenet Healthcare from $242.00 to $283.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Royal Bank Of Canada boosted their target price on shares of Tenet Healthcare from $236.00 to $283.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Truist Financial increased their price target on Tenet Healthcare from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Wall Street Zen raised Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 23rd. Finally, Piper Sandler set a $308.00 target price on Tenet Healthcare in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Tenet Healthcare has an average rating of “Buy” and a consensus target price of $277.89.

Hedge Funds Weigh In On Tenet Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Elyxium Wealth LLC bought a new stake in Tenet Healthcare in the 4th quarter valued at about $29,000. Trust Co. of Vermont acquired a new stake in Tenet Healthcare in the second quarter valued at approximately $37,000. OP Asset Management Ltd bought a new stake in shares of Tenet Healthcare during the first quarter valued at approximately $49,000. Compass Financial Management LLC acquired a new position in shares of Tenet Healthcare during the second quarter worth approximately $57,000. Finally, William B. Walkup & Associates Inc. grew its position in Tenet Healthcare by 88.7% in the 4th quarter. William B. Walkup & Associates Inc. now owns 302 shares of the company’s stock valued at $60,000 after purchasing an additional 142 shares during the period. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified healthcare services company that owns and operates acute care hospitals and other healthcare facilities in the United States. Its hospitals provide services including emergency care, surgery, cardiovascular care, orthopedics, oncology, women’s health and other inpatient and outpatient treatments.

Through its ambulatory business, United Surgical Partners International, Tenet operates and manages ambulatory surgery centers and other outpatient facilities.