Richard W. Fisher Sells 2,500 Shares of Tenet Healthcare Co. (NYSE:THC) Stock

Tenet Healthcare Co. (NYSE:THC) Director Richard W. Fisher sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $123.20, for a total value of $308,000.00. Following the sale, the director now directly owns 17,627 shares in the company, valued at $2,171,646.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Tenet Healthcare Stock Up 3.9 %

Shares of NYSE:THC traded up $4.84 on Thursday, reaching $127.68. The company had a trading volume of 1,181,828 shares, compared to its average volume of 1,215,883. 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 $12.47 billion, a PE ratio of 4.77, a PEG ratio of 1.22 and a beta of 2.09. Tenet Healthcare Co. has a 52-week low of $51.04 and a 52-week high of $127.73. The firm’s 50 day simple moving average is $102.33 and its 200-day simple moving average is $84.00.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $1.45 by $1.77. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.42 earnings per share. As a group, analysts expect that Tenet Healthcare Co. will post 8.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenet Healthcare

A number of large investors have recently made changes to their positions in the business. Rise Advisors LLC acquired a new position in Tenet Healthcare during the 1st quarter valued at about $29,000. GAMMA Investing LLC purchased a new stake in shares of Tenet Healthcare during the fourth quarter valued at $52,000. Sunbelt Securities Inc. acquired a new position in shares of Tenet Healthcare in the third quarter valued at about $67,000. FinTrust Capital Advisors LLC boosted its position in Tenet Healthcare by 108.6% in the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock valued at $68,000 after buying an additional 467 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Tenet Healthcare during the 1st quarter worth approximately $78,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on THC. TheStreet upgraded Tenet Healthcare from a “c+” rating to a “b-” rating in a report on Tuesday, February 6th. Stephens lifted their price target on shares of Tenet Healthcare from $95.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Truist Financial reaffirmed a “buy” rating and set a $130.00 target price (up previously from $120.00) on shares of Tenet Healthcare in a research note on Wednesday, May 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $104.00 price objective on shares of Tenet Healthcare in a research report on Wednesday, April 10th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare presently has an average rating of “Buy” and a consensus price target of $113.19.

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.