Tenet Healthcare (NYSE:THC) Given New $175.00 Price Target at Morgan Stanley

Tenet Healthcare (NYSE:THC) had its price target lifted by Morgan Stanley from $165.00 to $175.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also weighed in on THC. Robert W. Baird restated a “neutral” rating and set a $137.00 target price (down previously from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Truist Financial cut their target price on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. TD Cowen began coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price objective on the stock. Royal Bank of Canada raised their target price on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, Barclays increased their price objective on Tenet Healthcare from $161.00 to $171.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Tenet Healthcare has an average rating of “Moderate Buy” and an average price target of $173.69.

Tenet Healthcare Trading Up 0.7 %

NYSE THC opened at $149.01 on Monday. Tenet Healthcare has a 12 month low of $109.82 and a 12 month high of $171.20. The company’s 50-day moving average price is $127.44 and its 200-day moving average price is $136.00. The stock has a market cap of $13.84 billion, a PE ratio of 4.62, a PEG ratio of 1.02 and a beta of 1.63. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $1.25. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same period in the previous year, the company posted $3.22 EPS. Tenet Healthcare’s revenue was down 2.5% on a year-over-year basis. Equities research analysts forecast that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insider Activity

In related news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the sale, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors have recently modified their holdings of THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Tenet Healthcare in the first quarter valued at approximately $26,000. Wayfinding Financial LLC acquired a new stake in Tenet Healthcare in the 1st quarter valued at $28,000. Colonial Trust Co SC raised its position in Tenet Healthcare by 85.7% during 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 during the period. GeoWealth Management LLC lifted its holdings in Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after purchasing an additional 84 shares in the last quarter. Finally, WR Wealth Planners LLC increased 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 purchasing an additional 312 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.