Tenet Healthcare Corp (THC) Director Sells $28,886.00 in Stock

Tenet Healthcare Corp (NYSE:THC) Director George Fredrick Smitherman sold 14,300 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $2.02, for a total transaction of $28,886.00.

George Fredrick Smitherman also recently made the following trade(s):

  • On Thursday, January 25th, George Fredrick Smitherman acquired 125,000 shares of Tenet Healthcare stock. The stock was bought at an average price of $38.50 per share, with a total value of $4,812,500.00.
  • On Monday, January 15th, George Fredrick Smitherman sold 1,300 shares of Tenet Healthcare stock. The stock was sold at an average price of $38.50, for a total transaction of $50,050.00.

Shares of Tenet Healthcare Corp (NYSE:THC) opened at $18.26 on Monday. The company has a current ratio of 1.28, a quick ratio of 1.21 and a debt-to-equity ratio of 21.21. Tenet Healthcare Corp has a 1 year low of $12.25 and a 1 year high of $22.72.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Monday, November 6th. The company reported ($0.17) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.23. The company had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.94 billion. Tenet Healthcare had a negative net margin of 2.85% and a negative return on equity of 5.61%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 earnings per share. analysts forecast that Tenet Healthcare Corp will post 0.69 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in THC. King Street Capital Management L.P. bought a new stake in shares of Tenet Healthcare during the third quarter valued at approximately $31,217,000. Davidson Kempner Capital Management LP bought a new stake in Tenet Healthcare in the 2nd quarter worth approximately $20,133,000. FMR LLC grew its position in Tenet Healthcare by 36.9% in the 2nd quarter. FMR LLC now owns 3,724,713 shares of the company’s stock worth $72,036,000 after purchasing an additional 1,004,700 shares during the period. Dimensional Fund Advisors LP grew its position in Tenet Healthcare by 38.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,141,658 shares of the company’s stock worth $41,420,000 after purchasing an additional 596,526 shares during the period. Finally, State Street Corp grew its position in Tenet Healthcare by 25.4% in the 2nd quarter. State Street Corp now owns 2,926,533 shares of the company’s stock worth $56,603,000 after purchasing an additional 593,520 shares during the period.

THC has been the subject of several recent research reports. Wells Fargo & Co initiated coverage on shares of Tenet Healthcare in a report on Tuesday, January 30th. They set a “market perform” rating and a $20.00 target price for the company. Goldman Sachs Group initiated coverage on shares of Tenet Healthcare in a report on Wednesday, January 3rd. They set a “neutral” rating and a $15.00 target price for the company. Zacks Investment Research lowered shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. JPMorgan Chase & Co. lowered shares of Tenet Healthcare from a “neutral” rating to an “underweight” rating and set a $15.00 target price for the company. in a report on Thursday, December 14th. Finally, Morgan Stanley lowered shares of Tenet Healthcare from an “equal weight” rating to an “underweight” rating and set a $14.00 target price for the company. in a report on Wednesday, December 20th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.36.

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About Tenet Healthcare

Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.

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