Tenet Healthcare Sees Unusually High Options Volume (NYSE:THC)

Tenet Healthcare Co. (NYSE:THC) was the target of some unusual options trading on Tuesday. Traders bought 3,041 call options on the company. This is an increase of approximately 8% compared to the average volume of 2,804 call options.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Tenet Healthcare from $137.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company boosted their price objective on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Truist Financial reaffirmed a “buy” rating and set a $130.00 target price (up from $120.00) on shares of Tenet Healthcare in a research report on Wednesday. Wolfe Research upgraded Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price objective for the company in a research note on Wednesday, March 27th. Finally, Stephens upped their target price on Tenet Healthcare from $95.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $111.06.

Tenet Healthcare Trading Up 3.3 %

Shares of NYSE:THC opened at $115.94 on Thursday. Tenet Healthcare has a fifty-two week low of $51.04 and a fifty-two week high of $120.03. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. The company has a market cap of $11.50 billion, a PE ratio of 4.50, a P/E/G ratio of 2.55 and a beta of 2.09. The company’s 50-day moving average price is $98.80 and its 200 day moving average price is $81.44.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same period last year, the firm earned $1.42 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that Tenet Healthcare will post 8.89 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Paola M. Arbour sold 18,168 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the transaction, the executive vice president now owns 29,803 shares in the company, valued at $2,889,698.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard J. Mark sold 14,000 shares of Tenet Healthcare stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the transaction, the director now owns 33,303 shares in the company, valued at approximately $3,296,330.94. The disclosure for this sale can be found here. Insiders have sold a total of 51,268 shares of company stock valued at $4,944,810 over the last quarter. Insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Tenet Healthcare by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock worth $839,613,000 after purchasing an additional 172,913 shares during the period. Glenview Capital Management LLC grew its holdings in shares of Tenet Healthcare by 12.8% during the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock valued at $585,087,000 after buying an additional 877,180 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Tenet Healthcare by 16.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,516,792 shares of the company’s stock worth $114,629,000 after purchasing an additional 212,185 shares during the period. Greenlight Capital Inc. increased its stake in Tenet Healthcare by 44.3% in the 4th quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock valued at $99,448,000 after buying an additional 404,190 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Tenet Healthcare by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,043,214 shares of the company’s stock worth $78,836,000 after buying an additional 16,490 shares in the last quarter. 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.