Insider Selling: Tenet Healthcare (NYSE:THC) Director Sells $521,075.00 in Stock

Tenet Healthcare Corporation (NYSE:THC) Director Richard Fisher sold 2,500 shares of Tenet Healthcare stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total transaction of $521,075.00. Following the completion of the sale, the director owned 8,792 shares in the company, valued at approximately $1,832,516.56. This trade represents a 22.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tenet Healthcare Stock Performance

NYSE:THC opened at $206.53 on Monday. The stock has a market cap of $18.25 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 0.89 and a beta of 1.52. The firm’s fifty day simple moving average is $195.84 and its 200 day simple moving average is $173.45. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $217.43. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.27.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, October 28th. The company reported $3.70 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.37. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the previous year, the business posted $2.93 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. As a group, research analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Hedge Funds Weigh In On Tenet Healthcare

Hedge funds have recently bought and sold shares of the business. William B. Walkup & Associates Inc. purchased a new position in Tenet Healthcare in the 3rd quarter worth about $32,000. Chung Wu Investment Group LLC purchased a new stake in shares of Tenet Healthcare during the 2nd quarter valued at about $35,000. Trust Co. of Vermont purchased a new stake in shares of Tenet Healthcare during the 3rd quarter valued at about $41,000. Canada Pension Plan Investment Board purchased a new stake in shares of Tenet Healthcare during the 2nd quarter valued at about $35,000. Finally, Wayfinding Financial LLC purchased a new stake in shares of Tenet Healthcare during the 1st quarter valued at about $28,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

THC has been the topic of a number of research reports. Barclays boosted their target price on shares of Tenet Healthcare from $208.00 to $229.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Wall Street Zen raised Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Saturday, July 26th. Bank of America lifted their price target on Tenet Healthcare from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Robert W. Baird lowered their price target on Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on Tenet Healthcare from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.31.

About Tenet Healthcare

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.