Tenet Healthcare (NYSE:THC) Earns Overweight Rating from Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Tenet Healthcare (NYSE:THC) in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $165.00 price target on the stock.

THC has been the topic of several other reports. TD Cowen initiated coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They issued a “buy” rating and a $175.00 target price on the stock. Barclays cut their target price on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Finally, The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tenet Healthcare currently has an average rating of “Moderate Buy” and an average target price of $166.41.

Tenet Healthcare Trading Down 0.9 %

Shares of Tenet Healthcare stock opened at $133.17 on Wednesday. The stock has a fifty day moving average price of $132.43 and a 200-day moving average price of $142.50. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The firm has a market cap of $12.67 billion, a PE ratio of 4.13, a P/E/G ratio of 1.02 and a beta of 2.06. Tenet Healthcare has a 1 year low of $90.03 and a 1 year high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping 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%. Equities research analysts anticipate that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Transactions at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the company’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 completion of the sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

Large investors have recently modified their holdings of the business. True Wealth Design LLC bought a new stake in shares of Tenet Healthcare in the 3rd quarter worth approximately $38,000. Colonial Trust Co SC increased its position in Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock valued at $31,000 after purchasing an additional 114 shares during the period. GeoWealth Management LLC lifted its position in shares of 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 during the period. WR Wealth Planners LLC boosted its stake in shares of Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after purchasing an additional 312 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after buying an additional 110 shares during the period. 95.44% of the stock is 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.