Tenet Healthcare (NYSE:THC) Shares Gap Down to $97.51

Tenet Healthcare Co. (NYSE:THC) shares gapped down prior to trading on Friday . The stock had previously closed at $97.51, but opened at $95.00. Tenet Healthcare shares last traded at $93.46, with a volume of 237,152 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on THC. TheStreet upgraded Tenet Healthcare from a “c+” rating to a “b-” rating in a report on Tuesday, February 6th. Truist Financial upped their price target on Tenet Healthcare from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Barclays began coverage on Tenet Healthcare in a report on Wednesday, March 6th. They set an “overweight” rating and a $113.00 price target for the company. Wolfe Research upgraded Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target for the company in a report on Wednesday, March 27th. Finally, Wells Fargo & Company upped their price target on Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $100.38.

Tenet Healthcare Stock Down 1.4 %

The business has a 50 day moving average of $98.22 and a 200 day moving average of $80.54. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 3.12 and a beta of 2.08. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The firm had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the business posted $1.96 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Tenet Healthcare Co. will post 6.3 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Paola M. Arbour sold 18,168 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the sale, the executive vice president now owns 29,803 shares in the company, valued at $2,889,698.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Thomas W. Arnst sold 17,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the sale, the executive vice president now owns 8,148 shares in the company, valued at $772,756.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paola M. Arbour sold 18,168 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total value of $1,761,569.28. Following the sale, the executive vice president now owns 29,803 shares in the company, valued at approximately $2,889,698.88. The disclosure for this sale can be found here. Insiders have sold 51,268 shares of company stock worth $4,944,810 over the last three months. Company insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Tenet Healthcare by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock valued at $839,613,000 after acquiring an additional 172,913 shares during the last quarter. Glenview Capital Management LLC boosted its holdings in Tenet Healthcare by 12.8% in the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock valued at $585,087,000 after acquiring an additional 877,180 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tenet Healthcare by 16.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,516,792 shares of the company’s stock valued at $114,629,000 after acquiring an additional 212,185 shares during the last quarter. Greenlight Capital Inc. boosted its holdings in Tenet Healthcare by 44.3% in the fourth quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock valued at $99,448,000 after acquiring an additional 404,190 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Tenet Healthcare by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,043,214 shares of the company’s stock valued at $78,836,000 after acquiring an additional 16,490 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.