Tenet Healthcare (NYSE:THC) Coverage Initiated by Analysts at Morgan Stanley

Analysts at Morgan Stanley started coverage on shares of Tenet Healthcare (NYSE:THC) in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $165.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 26.15% from the stock’s previous close.

Several other research firms also recently weighed in on THC. Barclays cut their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. KeyCorp lowered their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Truist Financial dropped their target price on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, TD Cowen assumed coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target for the company. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $163.94.

Tenet Healthcare Trading Up 1.0 %

THC stock opened at $130.80 on Wednesday. The firm has a market cap of $12.44 billion, a PE ratio of 4.06, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The firm has a fifty day moving average price of $132.29 and a 200 day moving average price of $142.77. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare has a fifty-two week low of $90.03 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Sell-side analysts anticipate that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

A number of institutional investors have recently made changes to their positions in THC. Colonial Trust Co SC boosted its holdings in Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock worth $31,000 after acquiring an additional 114 shares in the last quarter. GeoWealth Management LLC boosted its stake in Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after purchasing an additional 84 shares in the last quarter. True Wealth Design LLC acquired a new position in Tenet Healthcare during the 3rd quarter valued at approximately $38,000. WR Wealth Planners LLC lifted its stake in shares of Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after buying an additional 312 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

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.