Tenet Healthcare (NYSE:THC) Price Target Raised to $175.00

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

Other equities analysts also recently issued research reports about the stock. Guggenheim assumed coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price objective for the company. UBS Group lifted their price target on Tenet Healthcare from $217.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Royal Bank of Canada upped their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Robert W. Baird reissued a “neutral” rating and set a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.69.

Tenet Healthcare Trading Up 0.4 %

NYSE THC opened at $152.16 on Monday. Tenet Healthcare has a 52 week low of $109.82 and a 52 week high of $171.20. The firm has a 50 day moving average of $128.37 and a two-hundred day moving average of $136.22. The stock has a market capitalization of $14.13 billion, a PE ratio of 4.72, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $1.25. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.22 EPS. As a group, research analysts expect that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value 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. The trade was a 25.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors have recently added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Tenet Healthcare during the 1st quarter valued at about $26,000. Wayfinding Financial LLC acquired a new position in Tenet Healthcare during the first quarter worth approximately $28,000. Colonial Trust Co SC increased its holdings in shares of Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock worth $31,000 after buying an additional 114 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Tenet Healthcare during the 1st quarter worth about $31,000. Finally, GeoWealth Management LLC increased its holdings in Tenet Healthcare by 39.8% in the 4th 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. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.