Tenet Healthcare (NYSE:THC) Insider R. Scott Ramsey Sells 13,322 Shares

Tenet Healthcare Corporation (NYSE:THC) insider R. Scott Ramsey sold 13,322 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $205.11, for a total value of $2,732,475.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tenet Healthcare Stock Up 0.4%

Shares of THC opened at $204.99 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.27. The firm has a market cap of $18.02 billion, a P/E ratio of 14.05, a PEG ratio of 0.89 and a beta of 1.53. The stock’s 50 day moving average is $198.15 and its two-hundred day moving average is $175.72. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $217.43.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.37. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.93 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. Analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Institutional Trading of Tenet Healthcare

Several hedge funds have recently made changes to their positions in THC. William B. Walkup & Associates Inc. purchased a new stake in shares of Tenet Healthcare during the 3rd quarter valued at approximately $32,000. Westside Investment Management Inc. increased its stake in Tenet Healthcare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 192 shares of the company’s stock worth $39,000 after acquiring an additional 96 shares during the last quarter. Chung Wu Investment Group LLC acquired a new position in shares of Tenet Healthcare in the 2nd quarter valued at $35,000. Trust Co. of Vermont purchased a new position in shares of Tenet Healthcare during the 3rd quarter worth $41,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Tenet Healthcare during the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Bank of America upped their price target on shares of Tenet Healthcare from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Raymond James Financial set a $245.00 target price on Tenet Healthcare in a report on Wednesday, October 29th. Robert W. Baird dropped their price target on Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. Truist Financial restated a “buy” rating and issued a $240.00 price objective (up previously from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. Finally, Royal Bank Of Canada upped their target price on shares of Tenet Healthcare from $230.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $226.25.

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.