Tenet Healthcare (NYSE:THC) Now Covered by Analysts at Morgan Stanley

Stock analysts at Morgan Stanley started coverage on shares of Tenet Healthcare (NYSE:THC) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm set an “overweight” rating and a $165.00 price target on the stock. Morgan Stanley’s price objective would suggest a potential upside of 22.76% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Truist Financial dropped their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. TD Cowen began coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target for the company. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Finally, KeyCorp dropped their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $166.41.

Tenet Healthcare Trading Up 1.0 %

Shares of THC opened at $134.41 on Wednesday. Tenet Healthcare has a fifty-two week low of $90.03 and a fifty-two week high of $171.20. The stock has a fifty day moving average of $132.38 and a two-hundred day moving average of $142.64. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The company has a market capitalization of $12.79 billion, a PE ratio of 4.17, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06.

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

Insider Activity

In other news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in THC. True Wealth Design LLC acquired a new stake in shares of Tenet Healthcare in the 3rd quarter valued at about $38,000. Colonial Trust Co SC increased 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 valued at $31,000 after buying an additional 114 shares during the last quarter. GeoWealth Management LLC lifted its holdings in Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after buying an additional 84 shares during the last quarter. WR Wealth Planners LLC grew its position in shares of Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after acquiring an additional 312 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Tenet Healthcare by 30.5% during 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 in the last quarter. 95.44% of the stock is currently owned by institutional investors.

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.