Lisa Y. Foo Sells 4,000 Shares of Tenet Healthcare Co. (NYSE:THC) Stock

Tenet Healthcare Co. (NYSE:THC) EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the transaction, the executive vice president now directly owns 15,566 shares in the company, valued at approximately $2,427,362.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Tenet Healthcare Price Performance

Shares of THC traded up $1.11 during mid-day trading on Friday, reaching $156.13. 1,192,736 shares of the stock traded hands, compared to its average volume of 1,209,248. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a 1 year low of $52.08 and a 1 year high of $171.20. The company has a market cap of $14.85 billion, a price-to-earnings ratio of 5.00, a price-to-earnings-growth ratio of 0.72 and a beta of 2.14. The firm has a fifty day moving average price of $159.38 and a 200 day moving average price of $142.08.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.33 by $0.60. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. Tenet Healthcare’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.44 earnings per share. As a group, equities research analysts predict that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on THC shares. Royal Bank of Canada boosted their price target on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup increased their target price on shares of Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped their price objective on Tenet Healthcare from $175.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Truist Financial reissued a “buy” rating and issued a $190.00 target price (up from $180.00) on shares of Tenet Healthcare in a research report on Wednesday. Finally, Cantor Fitzgerald increased their price target on Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Tenet Healthcare presently has an average rating of “Buy” and an average target price of $163.65.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of Tenet Healthcare by 11.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock valued at $831,947,000 after purchasing an additional 790,684 shares during the last quarter. 8 Knots Management LLC grew its position in Tenet Healthcare by 74.5% during the first quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company’s stock valued at $107,814,000 after acquiring an additional 438,033 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Tenet Healthcare by 7.3% during the second quarter. Marshall Wace LLP now owns 713,979 shares of the company’s stock worth $94,981,000 after acquiring an additional 48,626 shares in the last quarter. Farallon Capital Management LLC boosted its stake in shares of Tenet Healthcare by 7.8% in the 2nd quarter. Farallon Capital Management LLC now owns 687,442 shares of the company’s stock valued at $91,450,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Integral Health Asset Management LLC grew its holdings in shares of Tenet Healthcare by 17.6% during the 2nd quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock valued at $66,515,000 after purchasing an additional 75,000 shares during the last quarter. 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.