Tenet Healthcare (NYSE:THC) Trading Down 3.2% – Time to Sell?

Shares of Tenet Healthcare Co. (NYSE:THC) were down 3.2% during trading on Friday . The company traded as low as $121.01 and last traded at $121.27. Approximately 84,178 shares were traded during trading, a decline of 77% from the average daily volume of 363,409 shares. The stock had previously closed at $125.22.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Raymond James lowered Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a report on Friday, November 22nd. Royal Bank of Canada raised their target price on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. StockNews.com lowered shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th. UBS Group upped their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald lifted their price target on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.88.

Tenet Healthcare Stock Performance

The company has a market cap of $11.66 billion, a PE ratio of 3.93, a P/E/G ratio of 0.61 and a beta of 2.06. The stock’s 50-day simple moving average is $143.74 and its 200 day simple moving average is $148.44. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 EPS. As a group, equities analysts anticipate that Tenet Healthcare Co. will post 11.38 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the transaction, the executive vice president now owns 15,566 shares of the company’s stock, valued at $2,427,362.04. The trade was a 20.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Tenet Healthcare

Large investors have recently modified their holdings of the business. Coldstream Capital Management Inc. increased its position in Tenet Healthcare by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock worth $566,000 after buying an additional 74 shares in the last quarter. Optas LLC lifted its holdings in Tenet Healthcare by 3.4% in the 3rd quarter. Optas LLC now owns 2,821 shares of the company’s stock valued at $469,000 after purchasing an additional 93 shares in the last quarter. Signaturefd LLC raised its position in shares of Tenet Healthcare by 17.6% in the third quarter. Signaturefd LLC now owns 628 shares of the company’s stock valued at $104,000 after buying an additional 94 shares during the last quarter. CIBC Asset Management Inc boosted its position in Tenet Healthcare by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock worth $480,000 after acquiring an additional 94 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Tenet Healthcare by 20.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock worth $74,000 after purchasing an additional 96 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.