Tenet Healthcare (NYSE:THC) Stock Price Down 7.7% – Time to Sell?

Tenet Healthcare Co. (NYSE:THC)’s stock price fell 7.7% during mid-day trading on Monday . The company traded as low as $112.05 and last traded at $112.48. 537,022 shares traded hands during trading, a decline of 64% from the average session volume of 1,496,713 shares. The stock had previously closed at $121.81.

Analyst Upgrades and Downgrades

THC has been the topic of a number of recent research reports. Guggenheim started coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They set a “buy” rating and a $165.00 price objective on the stock. Truist Financial cut their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Barclays lowered their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. KeyCorp cut their target price on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, TD Cowen initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $165.44.

Tenet Healthcare Price Performance

The firm’s 50 day moving average price is $127.88 and its two-hundred day moving average price is $138.01. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The stock has a market cap of $10.44 billion, a PE ratio of 3.43, a P/E/G ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. On average, research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.93% of the stock is owned by corporate insiders.

Institutional Trading of Tenet Healthcare

A number of hedge funds have recently bought and sold shares of THC. New Wave Wealth Advisors LLC purchased a new position in Tenet Healthcare in the 4th quarter worth approximately $343,000. Swedbank AB raised its position in shares of Tenet Healthcare by 100.0% in the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock worth $5,049,000 after acquiring an additional 20,000 shares in the last quarter. Signet Financial Management LLC bought a new stake in shares of Tenet Healthcare during the fourth quarter valued at approximately $1,526,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Tenet Healthcare during the 4th quarter valued at $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Tenet Healthcare in the 4th quarter worth about $5,892,000. 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.