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

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

Several other analysts also recently commented on the stock. Truist Financial cut their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. TD Cowen initiated coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price objective on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, Barclays dropped their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and an average price target of $166.41.

Tenet Healthcare Stock Down 0.9 %

NYSE:THC opened at $133.17 on Wednesday. Tenet Healthcare has a 1-year low of $90.03 and a 1-year high of $171.20. The company has a market capitalization of $12.67 billion, a PE ratio of 4.13, a P/E/G ratio of 1.02 and a beta of 2.06. The firm’s 50-day moving average price is $132.43 and its 200-day moving average price is $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.

Tenet Healthcare (NYSE:THC) last released its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts predict that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 27,378 shares of the company’s stock, valued at $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 is available through this hyperlink. 0.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in THC. FMR LLC lifted its stake in shares of Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after buying an additional 3,604,161 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Tenet Healthcare by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock worth $268,591,000 after acquiring an additional 71,454 shares during the period. Norges Bank purchased a new stake in shares of Tenet Healthcare during the fourth quarter worth about $190,819,000. Dimensional Fund Advisors LP lifted its holdings in Tenet Healthcare by 22.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock worth $188,524,000 after purchasing an additional 272,906 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Tenet Healthcare by 20.8% in the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company’s stock worth $110,087,000 after purchasing an additional 150,361 shares during the period. Institutional investors own 95.44% of the company’s stock.

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.