Stock Traders Purchase Large Volume of Call Options on Tenet Healthcare (NYSE:THC)

Tenet Healthcare Co. (NYSE:THC) saw some unusual options trading on Tuesday. Stock traders purchased 3,041 call options on the company. This is an increase of 8% compared to the average daily volume of 2,804 call options.

Insider Activity

In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the completion of the transaction, the executive vice president now directly 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 at the SEC website. In other news, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $2,889,698.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Thomas W. Arnst sold 17,000 shares of Tenet Healthcare stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $94.84, for a total value of $1,612,280.00. Following the sale, the executive vice president now directly owns 8,148 shares of the company’s stock, valued at $772,756.32. The disclosure for this sale can be found here. Insiders sold a total of 51,268 shares of company stock valued at $4,944,810 over the last three months. Insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $29,000. GAMMA Investing LLC bought a new stake in Tenet Healthcare during the fourth quarter worth $52,000. Sunbelt Securities Inc. purchased a new position in Tenet Healthcare in the third quarter worth $67,000. FinTrust Capital Advisors LLC increased its stake in shares of Tenet Healthcare by 108.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after purchasing an additional 467 shares during the last quarter. Finally, USA Financial Formulas bought a new position in Tenet Healthcare during the third quarter valued at $92,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

THC opened at $115.94 on Thursday. The company has a market cap of $11.50 billion, a price-to-earnings ratio of 4.50, a PEG ratio of 2.55 and a beta of 2.09. The company’s fifty day moving average price is $98.80 and its two-hundred day moving average price is $81.44. Tenet Healthcare has a 1-year low of $51.04 and a 1-year high of $120.03. The company has a current ratio of 1.44, a quick ratio of 1.42 and a debt-to-equity ratio of 2.58.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 EPS. On average, analysts expect that Tenet Healthcare will post 8.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on THC shares. Deutsche Bank Aktiengesellschaft upped their target price on Tenet Healthcare from $100.00 to $126.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Royal Bank of Canada upped their price target on shares of Tenet Healthcare from $109.00 to $136.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays assumed coverage on Tenet Healthcare in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $113.00 price objective for the company. Mizuho restated a “buy” rating and issued a $130.00 price objective (up from $118.00) on shares of Tenet Healthcare in a report on Wednesday. Finally, Wolfe Research upgraded shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target on the stock in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $111.06.

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.