Richard W. Fisher Sells 2,000 Shares of Tenet Healthcare Co. (NYSE:THC) Stock

Tenet Healthcare Co. (NYSE:THC) Director Richard W. Fisher sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total value of $327,340.00. Following the completion of the transaction, the director now owns 14,227 shares in the company, valued at approximately $2,328,533.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tenet Healthcare Price Performance

Shares of THC stock opened at $165.85 on Friday. The stock’s fifty day simple moving average is $145.14 and its 200 day simple moving average is $123.03. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.45 and a quick ratio of 1.38. The firm has a market cap of $16.20 billion, a price-to-earnings ratio of 6.44, a P/E/G ratio of 0.76 and a beta of 2.15. Tenet Healthcare Co. has a one year low of $51.04 and a one year high of $166.08.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.89 by $0.42. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $4.98 billion. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. On average, analysts expect that Tenet Healthcare Co. will post 10.68 earnings per share for the current fiscal year.

Tenet Healthcare declared that its Board of Directors has initiated a stock buyback plan on Wednesday, July 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to buy up to 10.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on THC. JPMorgan Chase & Co. lifted their price target on shares of Tenet Healthcare from $107.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Raymond James boosted their target price on shares of Tenet Healthcare from $130.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Citigroup lifted their price objective on Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Truist Financial restated a “buy” rating and set a $170.00 target price (up previously from $155.00) on shares of Tenet Healthcare in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group upped their price target on Tenet Healthcare from $156.00 to $173.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Tenet Healthcare currently has an average rating of “Buy” and an average target price of $152.69.

Hedge Funds Weigh In On Tenet Healthcare

Institutional investors have recently bought and sold shares of the business. Innealta Capital LLC bought a new position in Tenet Healthcare in the 2nd quarter valued at $28,000. ORG Partners LLC bought a new position in Tenet Healthcare in the 2nd quarter valued at $31,000. Blue Trust Inc. raised its position in Tenet Healthcare by 93.0% in the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company’s stock valued at $33,000 after purchasing an additional 120 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in Tenet Healthcare in the 2nd quarter valued at $34,000. Finally, Rise Advisors LLC bought a new position in Tenet Healthcare in the 1st quarter valued at $29,000. Institutional investors 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.