Tenet Healthcare Co. (NYSE:THC – Get Free Report) shares were down 3.2% during trading on Friday . The company traded as low as $121.01 and last traded at $121.27. Approximately 84,178 shares were traded during trading, a decline of 77% from the average daily volume of 363,409 shares. The stock had previously closed at $125.22.
Wall Street Analyst Weigh In
THC has been the subject of several research analyst reports. StockNews.com downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Royal Bank of Canada boosted their target price on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a research report on Friday, November 22nd. Barclays raised their target price on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, KeyCorp initiated coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They issued an “overweight” rating and a $200.00 price target on the stock. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $166.88.
Tenet Healthcare Trading Down 1.0 %
Tenet Healthcare (NYSE:THC – Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the business earned $1.44 EPS. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, analysts anticipate that Tenet Healthcare Co. will post 11.38 EPS for the current year.
Insider Transactions at Tenet Healthcare
In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the firm’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 sale, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.93% of the stock is currently owned by insiders.
Institutional Trading of Tenet Healthcare
Several institutional investors and hedge funds have recently made changes to their positions in THC. FMR LLC boosted its position in Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after buying an additional 3,604,161 shares during the period. Geode Capital Management LLC boosted its stake in shares of Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after buying an additional 390,316 shares during the last quarter. Acadian Asset Management LLC increased its position in Tenet Healthcare by 7,223.1% in the second quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock worth $43,385,000 after buying an additional 321,789 shares in the last quarter. Iron Triangle Partners LP bought a new position in Tenet Healthcare in the 3rd quarter worth approximately $51,346,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Tenet Healthcare by 344.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock valued at $52,718,000 after buying an additional 245,875 shares in the last quarter. Hedge funds and other 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.
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