Insider Selling: Edward A. Kangas Unloads 12,000 Shares of Tenet Healthcare Corp Stock (THC)
Tenet Healthcare Corp (NYSE:THC) Chairman Edward A. Kangas sold 12,000 shares of Tenet Healthcare Corp stock on the open market in a transaction dated Monday, May 12th. The shares were sold at an average price of $44.29, for a total value of $531,480.00. Following the completion of the sale, the chairman now directly owns 24,198 shares of the company’s stock, valued at approximately $1,071,729. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
THC has been the subject of a number of recent research reports. Analysts at BMO Capital Markets reiterated a “market perform” rating on shares of Tenet Healthcare Corp in a research note on Monday. They now have a $47.00 price target on the stock, up previously from $45.00. Separately, analysts at FBR Capital Markets raised their price target on shares of Tenet Healthcare Corp from $45.00 to $47.00 in a research note on Wednesday, May 7th. They now have a “market perform” rating on the stock. Finally, analysts at Zacks reiterated an “underperform” rating on shares of Tenet Healthcare Corp in a research note on Tuesday, May 6th. They now have a $41.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.50.
Shares of Tenet Healthcare Corp (NYSE:THC) traded up 3.25% during mid-day trading on Tuesday, hitting $46.03. 2,017,613 shares of the company’s stock traded hands. Tenet Healthcare Corp has a 52-week low of $36.87 and a 52-week high of $49.47. The stock’s 50-day moving average is $42.36 and its 200-day moving average is $43.28. The company’s market cap is $4.495 billion. Tenet Healthcare Corp also was the recipient of a large growth in short interest in April. As of April 30th, there was short interest totalling 12,391,501 shares, a growth of 20.2% from the April 15th total of 10,312,870 shares. Based on an average trading volume of 2,078,702 shares, the short-interest ratio is presently 6.0 days. Currently, 12.9% of the company’s stock are sold short.
Tenet Healthcare Corp (NYSE:THC) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.02. The company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 66.0% on a year-over-year basis. Analysts expect that Tenet Healthcare Corp will post $1.22 EPS for the current fiscal year.
Tenet Healthcare Corporation (NYSE:THC), along with its subsidiaries, is an investor-owned health care services company.
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