Tenet Healthcare Co. (NYSE:THC - Get Free Report) Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were 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 document filed with the SEC, which is available through this link.
Tenet Healthcare Stock Performance
THC traded up $3.25 during midday trading on Friday, hitting $122.76. 1,125,183 shares of the company were exchanged, compared to its average volume of 1,434,951. The company's 50 day simple moving average is $132.46 and its 200 day simple moving average is $144.62. The firm has a market capitalization of $11.68 billion, a price-to-earnings ratio of 3.81, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 1-year low of $90.03 and a 1-year high of $171.20.
Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly 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, sell-side analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.
Institutional Investors Weigh In On Tenet Healthcare
A number of institutional investors have recently modified their holdings of THC. Assetmark Inc. grew its position in shares of Tenet Healthcare by 190.3% during the 3rd quarter. Assetmark Inc. now owns 5,446 shares of the company's stock valued at $905,000 after acquiring an additional 3,570 shares during the period. Atria Investments Inc grew its position in shares of Tenet Healthcare by 31.8% during the 3rd quarter. Atria Investments Inc now owns 3,871 shares of the company's stock valued at $643,000 after acquiring an additional 935 shares during the period. Sigma Planning Corp acquired a new stake in shares of Tenet Healthcare during the 3rd quarter valued at about $605,000. Crossmark Global Holdings Inc. grew its position in shares of Tenet Healthcare by 34.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,187 shares of the company's stock valued at $1,028,000 after acquiring an additional 1,600 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Tenet Healthcare by 4.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 34,749 shares of the company's stock valued at $5,775,000 after acquiring an additional 1,545 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts recently issued reports on THC shares. StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday. Cantor Fitzgerald restated an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Truist Financial lowered their target price on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. restated an "overweight" rating and set a $175.00 target price on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, Wells Fargo & Company lowered Tenet Healthcare from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $205.00 to $150.00 in a report on Monday, November 25th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $163.88.
View Our Latest Research Report on Tenet Healthcare
About Tenet Healthcare
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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.
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