Tenet Healthcare (NYSE:THC) Stock: Insider Roy Blunt Sells 1,000 Shares

Tenet Healthcare Corporation (NYSE:THC) Director Roy Blunt sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $293.00, for a total value of $293,000.00. Following the transaction, the director owned 3,589 shares in the company, valued at approximately $1,051,577. This represents a 21.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Tenet Healthcare Stock Down 0.2%

Shares of NYSE THC traded down $0.52 on Friday, hitting $286.34. The company had a trading volume of 372,735 shares, compared to its average volume of 928,804. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 1.76. Tenet Healthcare Corporation has a 12-month low of $157.58 and a 12-month high of $301.44. The firm has a market capitalization of $22.79 billion, a P/E ratio of 8.30, a PEG ratio of 1.53 and a beta of 1.20. The business has a 50 day moving average of $267.83 and a two-hundred day moving average of $224.88.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Thursday, October 29th. The company reported $6.64 EPS for the quarter, beating the consensus estimate of $4.68 by $1.96. The business had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $5.49 billion. Tenet Healthcare had a return on equity of 28.22% and a net margin of 13.09%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the business posted $3.70 EPS. As a group, equities research analysts forecast that Tenet Healthcare Corporation will post 22.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on THC shares. Leerink Partners upped their target price on shares of Tenet Healthcare from $309.00 to $342.00 and gave the company an “outperform” rating in a research note on Monday, November 2nd. Bank of America lifted their price target on shares of Tenet Healthcare from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Barclays boosted their price objective on shares of Tenet Healthcare from $271.00 to $297.00 and gave the stock an “overweight” rating in a report on Wednesday, November 4th. Stephens reissued an “overweight” rating and issued a $285.00 price objective on shares of Tenet Healthcare in a research report on Monday, July 27th. Finally, Mizuho set a $305.00 target price on Tenet Healthcare in a research note on Monday, November 2nd. Nineteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $296.65.

Institutional Investors Weigh In On Tenet Healthcare

Institutional investors have recently made changes to their positions in the company. Aberdeen Group plc raised its position in shares of Tenet Healthcare by 4,392.9% during the 3rd quarter. Aberdeen Group plc now owns 845,555 shares of the company’s stock valued at $216,090,000 after acquiring an additional 826,735 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Tenet Healthcare in the second quarter worth $168,761,000. Arrowstreet Capital Limited Partnership boosted its holdings in Tenet Healthcare by 57.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 671,700 shares of the company’s stock worth $126,757,000 after purchasing an additional 244,901 shares during the period. Bank of New York Mellon Corp bought a new stake in Tenet Healthcare during the second quarter valued at $106,342,000. Finally, Empowered Funds LLC increased its stake in Tenet Healthcare by 22.1% during the first quarter. Empowered Funds LLC now owns 284,753 shares of the company’s stock valued at $53,736,000 after purchasing an additional 51,549 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

About Tenet Healthcare

Tenet Healthcare Corporation is a U.S.-based healthcare services company that operates acute care hospitals and provides related inpatient and outpatient services. Its hospitals offer services across areas such as emergency care, surgery, imaging and specialty treatment. Through its subsidiary United Surgical Partners International (USPI), Tenet also operates ambulatory surgery centers and surgical hospitals, providing outpatient surgical and procedural care. The company’s Conifer Health Solutions business provides revenue cycle management and other administrative services to healthcare providers.