Tenet Healthcare (NYSE:THC) Receives Neutral Rating from Robert W. Baird

Tenet Healthcare (NYSE:THC)‘s stock had its “neutral” rating reaffirmed by investment analysts at Robert W. Baird in a note issued to investors on Tuesday,Benzinga reports. They currently have a $137.00 target price on the stock, down from their prior target price of $153.00. Robert W. Baird’s price objective indicates a potential upside of 9.80% from the stock’s current price.

Several other equities analysts have also commented on THC. Truist Financial cut their price target 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. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price objective for the company from $196.00 to $140.00 in a report on Monday, December 16th. Morgan Stanley started coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They set an “overweight” rating and a $165.00 price objective for the company. 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $165.44.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $124.77 on Tuesday. The firm has a market capitalization of $11.87 billion, a PE ratio of 3.87, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The firm has a 50-day moving average price of $129.37 and a 200-day moving average price of $139.16. Tenet Healthcare has a 12-month low of $90.03 and a 12-month high of $171.20. 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 Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, equities research 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 dated 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 directly owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 business. GAMMA Investing LLC raised its position in Tenet Healthcare by 28.1% during the first quarter. GAMMA Investing LLC now owns 1,430 shares of the company’s stock worth $192,000 after acquiring an additional 314 shares during the period. Signet Financial Management LLC raised its position in shares of Tenet Healthcare by 23.2% during the 1st quarter. Signet Financial Management LLC now owns 14,891 shares of the company’s stock worth $2,003,000 after purchasing an additional 2,805 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in Tenet Healthcare in the 1st quarter worth about $307,000. Farther Finance Advisors LLC raised its holdings in shares of Tenet Healthcare by 606.9% during the first quarter. Farther Finance Advisors LLC now owns 2,545 shares of the company’s stock valued at $340,000 after acquiring an additional 2,185 shares during the last quarter. Finally, Portside Wealth Group LLC purchased a new position in shares of Tenet Healthcare in the first quarter valued at approximately $449,000. 95.44% of the stock is currently owned by hedge funds and other 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.