Tenet Healthcare Corp (NYSE:THC) Director Ashish Dave sold 75,000 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $1.40, for a total value of $105,000.00.
Tenet Healthcare stock traded down $0.74 during midday trading on Friday, reaching $23.69. 1,858,536 shares of the company’s stock were exchanged, compared to its average volume of 2,115,800. The company has a debt-to-equity ratio of 27.44, a quick ratio of 1.22 and a current ratio of 1.29. The stock has a market capitalization of $2,395.25, a P/E ratio of 29.25, a PEG ratio of 2.04 and a beta of 0.80. Tenet Healthcare Corp has a 52 week low of $12.25 and a 52 week high of $25.24.
Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Monday, February 26th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.25 by $0.15. Tenet Healthcare had a negative net margin of 3.67% and a positive return on equity of 9.69%. The business had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the business earned $0.06 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. research analysts forecast that Tenet Healthcare Corp will post 0.92 earnings per share for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of THC. Geode Capital Management LLC boosted its position in shares of Tenet Healthcare by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 659,123 shares of the company’s stock worth $9,992,000 after purchasing an additional 3,302 shares in the last quarter. BerganKDV Wealth Management LLC increased its stake in Tenet Healthcare by 7.9% in the 4th quarter. BerganKDV Wealth Management LLC now owns 47,968 shares of the company’s stock valued at $727,000 after buying an additional 3,523 shares during the last quarter. Rhumbline Advisers increased its stake in Tenet Healthcare by 3.7% in the 3rd quarter. Rhumbline Advisers now owns 145,741 shares of the company’s stock valued at $2,395,000 after buying an additional 5,163 shares during the last quarter. American International Group Inc. increased its stake in Tenet Healthcare by 3.0% in the 3rd quarter. American International Group Inc. now owns 219,526 shares of the company’s stock valued at $3,607,000 after buying an additional 6,372 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Tenet Healthcare by 32.4% during the 4th quarter. First Trust Advisors LP now owns 27,572 shares of the company’s stock worth $418,000 after purchasing an additional 6,741 shares during the last quarter.
A number of equities research analysts have recently weighed in on THC shares. JPMorgan Chase downgraded Tenet Healthcare from a “neutral” rating to an “underweight” rating and set a $15.00 price target for the company. in a report on Thursday, December 14th. ValuEngine lowered Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Citigroup upgraded Tenet Healthcare from a “neutral” rating to a “buy” rating in a report on Tuesday, December 12th. Zacks Investment Research lowered Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. Finally, Goldman Sachs initiated coverage on Tenet Healthcare in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $15.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $21.44.
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About Tenet Healthcare
Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.
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