Tenet Healthcare (NYSE:THC) Trading Down 2.3%

Tenet Healthcare Co. (NYSE:THC - Get Free Report)'s share price traded down 2.3% during mid-day trading on Tuesday . The stock traded as low as $160.65 and last traded at $160.81. 45,900 shares changed hands during trading, a decline of 96% from the average session volume of 1,196,241 shares. The stock had previously closed at $164.62.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Tenet Healthcare from $150.00 to $155.00 and gave the stock a "buy" rating in a research report on Friday, June 28th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $168.00 price target on shares of Tenet Healthcare in a research note on Monday, August 19th. UBS Group lifted their price target on shares of Tenet Healthcare from $180.00 to $197.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. StockNews.com raised shares of Tenet Healthcare from a "buy" rating to a "strong-buy" rating in a report on Friday, June 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Tenet Healthcare from $107.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $152.69.

Tenet Healthcare Stock Down 4.7 %

The company has a current ratio of 1.45, a quick ratio of 1.38 and a debt-to-equity ratio of 2.53. The company has a market capitalization of $15.33 billion, a price-to-earnings ratio of 6.09, a PEG ratio of 0.80 and a beta of 2.14. The firm's 50 day simple moving average is $150.68 and its 200-day simple moving average is $128.81.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.42. The company had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $4.98 billion. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. On average, sell-side analysts anticipate that Tenet Healthcare Co. will post 10.7 EPS for the current fiscal year.

Tenet Healthcare announced that its Board of Directors has approved a stock repurchase program on Wednesday, July 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Meghan Fitzgerald sold 20,000 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $146.34, for a total value of $2,926,800.00. Following the sale, the director now directly owns 15,269 shares in the company, valued at approximately $2,234,465.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Meghan Fitzgerald sold 20,000 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $146.34, for a total value of $2,926,800.00. Following the sale, the director now directly owns 15,269 shares in the company, valued at approximately $2,234,465.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Saumya Sutaria sold 86,227 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the completion of the sale, the chief executive officer now owns 13,773 shares in the company, valued at $2,126,688.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,203 shares of company stock worth $19,754,997. Corporate insiders own 0.93% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in THC. International Assets Investment Management LLC raised its stake in Tenet Healthcare by 5,297.5% in the 4th quarter. International Assets Investment Management LLC now owns 6,423 shares of the company's stock valued at $485,000 after purchasing an additional 6,304 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tenet Healthcare by 16.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,516,792 shares of the company's stock valued at $114,629,000 after acquiring an additional 212,185 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Tenet Healthcare by 4.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,829 shares of the company's stock valued at $365,000 after acquiring an additional 221 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Tenet Healthcare during the 4th quarter valued at about $914,000. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Tenet Healthcare by 25.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 10,224 shares of the company's stock valued at $773,000 after acquiring an additional 2,106 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

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.