Tenet Healthcare Co. (NYSE:THC) EVP Thomas W. Arnst Sells 8,148 Shares

Tenet Healthcare Co. (NYSE:THC) EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total transaction of $945,982.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Tenet Healthcare Stock Performance

THC stock opened at $120.28 on Friday. The business has a 50 day moving average of $100.37 and a 200-day moving average of $82.40. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. Tenet Healthcare Co. has a 12-month low of $51.04 and a 12-month high of $121.72. The firm has a market cap of $11.75 billion, a PE ratio of 4.67, a P/E/G ratio of 1.20 and a beta of 2.09.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the previous year, the firm earned $1.42 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that Tenet Healthcare Co. will post 8.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on THC. Truist Financial reaffirmed a “buy” rating and set a $130.00 price target (up from $120.00) on shares of Tenet Healthcare in a research note on Wednesday. Mizuho reiterated a “buy” rating and issued a $130.00 target price (up from $118.00) on shares of Tenet Healthcare in a report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $104.00 price objective on shares of Tenet Healthcare in a report on Wednesday, April 10th. TheStreet upgraded shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a report on Tuesday, February 6th. Finally, Stephens raised their price target on shares of Tenet Healthcare from $95.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $113.19.

Institutional Investors Weigh In On Tenet Healthcare

Large investors have recently modified their holdings of the stock. Rise Advisors LLC purchased a new stake in Tenet Healthcare in the first quarter worth $29,000. GAMMA Investing LLC purchased a new stake in Tenet Healthcare in the 4th quarter worth about $52,000. Sunbelt Securities Inc. bought a new stake in Tenet Healthcare in the 3rd quarter valued at about $67,000. FinTrust Capital Advisors LLC boosted its position in Tenet Healthcare by 108.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after purchasing an additional 467 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Tenet Healthcare in the first quarter valued at approximately $78,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

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.