Paola M. Arbour Sells 7,738 Shares of Tenet Healthcare Co. (NYSE:THC) Stock

Tenet Healthcare Co. (NYSE:THC) EVP Paola M. Arbour sold 7,738 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.00, for a total value of $1,338,674.00. Following the completion of the sale, the executive vice president now owns 20,110 shares of the company’s stock, valued at $3,479,030. This represents a 27.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Tenet Healthcare Stock Down 0.3%

NYSE:THC opened at $171.36 on Friday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The company has a market cap of $15.92 billion, a PE ratio of 5.32, a PEG ratio of 1.02 and a beta of 1.65. Tenet Healthcare Co. has a 52-week low of $109.82 and a 52-week high of $174.14. The stock has a 50-day simple moving average of $144.43 and a 200 day simple moving average of $136.98.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping the consensus estimate of $3.11 by $1.25. The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the business earned $3.22 EPS. On average, sell-side analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

THC has been the subject of a number of recent analyst reports. Guggenheim assumed coverage on Tenet Healthcare in a report on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price objective for the company. TD Cowen began coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price target for the company. Royal Bank of Canada upped their target price on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. The Goldman Sachs Group upped their target price on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Finally, Robert W. Baird restated a “neutral” rating and issued a $137.00 price objective (down previously from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and an average target price of $180.18.

Hedge Funds Weigh In On Tenet Healthcare

Several hedge funds have recently modified their holdings of the stock. Strs Ohio bought a new position in shares of Tenet Healthcare in the 1st quarter valued at about $1,550,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Tenet Healthcare by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,969 shares of the company’s stock worth $37,252,000 after purchasing an additional 12,914 shares during the period. Empowered Funds LLC grew its holdings in Tenet Healthcare by 19.6% during the first quarter. Empowered Funds LLC now owns 154,754 shares of the company’s stock worth $20,814,000 after purchasing an additional 25,323 shares during the period. United Services Automobile Association bought a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $821,000. Finally, Fred Alger Management LLC bought a new position in Tenet Healthcare during the first quarter worth $2,652,000. 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.