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 firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at $2,427,362.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Tenet Healthcare Stock Up 0.7 %

Shares of Tenet Healthcare stock opened at $156.13 on Friday. The firm’s 50 day moving average price is $159.38 and its 200-day moving average price is $142.08. The company has a market cap of $14.85 billion, a P/E ratio of 5.00, a PEG ratio of 0.72 and a beta of 2.14. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a 52-week low of $52.08 and a 52-week high of $171.20.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.60. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. Tenet Healthcare’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the business earned $1.44 EPS. On average, sell-side analysts predict that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

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

Analysts Set New Price Targets

THC has been the subject of several research analyst reports. Citigroup raised their target price on shares of Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Truist Financial reiterated a “buy” rating and set a $190.00 price objective (up previously from $180.00) on shares of Tenet Healthcare in a research report on Wednesday. Barclays increased their price objective on shares of Tenet Healthcare from $156.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Royal Bank of Canada increased their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, The Goldman Sachs Group increased their price objective on shares of Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $163.65.

Institutional Trading of Tenet Healthcare

A number of institutional investors have recently bought and sold shares of THC. Price T Rowe Associates Inc. MD lifted its stake in 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 acquiring an additional 790,684 shares during the period. 8 Knots Management LLC lifted its stake in shares of Tenet Healthcare by 74.5% in the 1st quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company’s stock valued at $107,814,000 after purchasing an additional 438,033 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Tenet Healthcare by 7,223.1% in the 2nd quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock valued at $43,385,000 after purchasing an additional 321,789 shares during the period. Farallon Capital Management LLC lifted its stake in shares of Tenet Healthcare by 70.1% in the 1st quarter. Farallon Capital Management LLC now owns 637,442 shares of the company’s stock valued at $67,002,000 after purchasing an additional 262,600 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Tenet Healthcare by 344.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock worth $52,718,000 after acquiring an additional 245,875 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.