Insider Selling: Tenet Healthcare Co. (NYSE:THC) Director Sells 9,525 Shares of Stock

Tenet Healthcare Co. (NYSE:THC) Director J Robert Kerrey sold 9,525 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now owns 27,378 shares of the company’s stock, valued at $3,434,022.54. The trade was a 25.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Tenet Healthcare Trading Down 4.2 %

Shares of NYSE THC traded down $5.31 during midday trading on Wednesday, hitting $121.11. The company’s stock had a trading volume of 1,822,866 shares, compared to its average volume of 1,431,718. The business’s 50 day moving average is $132.68 and its two-hundred day moving average is $145.38. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The firm has a market cap of $11.52 billion, a P/E ratio of 3.76, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last released its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, equities research analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on THC shares. Barclays dropped their price target on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. TD Cowen started coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They set a “buy” rating and a $175.00 target price for the company. The Goldman Sachs Group cut shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Cantor Fitzgerald restated an “overweight” rating and set a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.88.

Hedge Funds Weigh In On Tenet Healthcare

A number of hedge funds have recently added to or reduced their stakes in THC. Plato Investment Management Ltd purchased a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $28,000. Colonial Trust Co SC raised its position in Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock valued at $31,000 after purchasing an additional 114 shares in the last quarter. GeoWealth Management LLC grew its position in shares of Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after buying an additional 84 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of Tenet Healthcare during the third quarter valued at $38,000. Finally, WR Wealth Planners LLC lifted its stake in Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after acquiring an additional 312 shares during the period. 95.44% of the stock is currently owned by institutional investors.

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.