Insider Selling: Tenet Healthcare Co. (NYSE:THC) EVP Sells $623,760.00 in Stock

Tenet Healthcare Co. (NYSE:THC - Get Free Report) EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the transaction, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Tenet Healthcare Trading Up 0.7 %

Shares of Tenet Healthcare stock traded up $1.11 on Friday, hitting $156.13. 1,192,736 shares of the company's stock traded hands, compared to its average volume of 1,209,248. The company has a market capitalization of $14.85 billion, a price-to-earnings ratio of 5.00, a price-to-earnings-growth ratio of 0.72 and a beta of 2.14. The company has a fifty day moving average of $159.38 and a two-hundred day moving average of $142.08. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.38. Tenet Healthcare Co. has a one year low of $52.08 and a one year high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.60. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. Tenet Healthcare's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.44 EPS. As a group, sell-side analysts expect that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

Tenet Healthcare declared that its board has authorized a share repurchase program on Wednesday, July 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 10.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on THC shares. Cantor Fitzgerald lifted their target price on Tenet Healthcare from $168.00 to $177.00 and gave the company an "overweight" rating in a research report on Wednesday. Citigroup increased their price objective on shares of Tenet Healthcare from $139.00 to $171.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Barclays boosted their target price on shares of Tenet Healthcare from $156.00 to $171.00 and gave the stock an "overweight" rating in a research note on Monday, July 29th. Wells Fargo & Company raised their price objective on Tenet Healthcare from $175.00 to $195.00 and gave the company an "overweight" rating in a report on Tuesday, October 22nd. Finally, UBS Group increased their target price on Tenet Healthcare from $197.00 to $217.00 and gave the company a "buy" rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $163.65.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new position in shares of Tenet Healthcare during the third quarter valued at about $30,000. Financial Management Professionals Inc. lifted its holdings in shares of Tenet Healthcare by 2,222.2% in the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company's stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. Innealta Capital LLC purchased a new stake in Tenet Healthcare in the 2nd quarter valued at $28,000. ORG Partners LLC bought a new position in Tenet Healthcare during the 2nd quarter valued at $31,000. Finally, Blue Trust Inc. grew its stake in shares of Tenet Healthcare by 93.0% in the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company's stock worth $33,000 after acquiring an additional 120 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

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.

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