Tenet Healthcare (NYSE:THC) Price Target Raised to $210.00 at Morgan Stanley

Tenet Healthcare (NYSE:THC) had its price objective boosted by stock analysts at Morgan Stanley from $175.00 to $210.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 34.44% from the stock’s current price.

Other analysts have also issued research reports about the stock. Wells Fargo & Company upgraded shares of Tenet Healthcare from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $150.00 to $195.00 in a research report on Thursday, May 29th. Guggenheim started coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They set a “buy” rating and a $165.00 price target on the stock. Truist Financial increased their price target on shares of Tenet Healthcare from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Robert W. Baird reiterated a “neutral” rating and set a $137.00 price target (down previously from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Finally, Barclays raised their target price on shares of Tenet Healthcare from $171.00 to $215.00 and gave the company an “overweight” rating in a research report on Monday, June 2nd. Four equities research analysts have rated the stock with a hold rating, fifteen have issued 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 a consensus price target of $182.24.

Tenet Healthcare Stock Performance

Shares of NYSE:THC opened at $156.20 on Monday. The company’s 50 day moving average price is $145.47 and its two-hundred day moving average price is $137.20. Tenet Healthcare has a 12-month low of $109.82 and a 12-month high of $174.14. The firm has a market cap of $14.51 billion, a PE ratio of 4.85, a PEG ratio of 1.02 and a beta of 1.65. 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 announced its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.22 EPS. Equities research analysts predict that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Richard W. Fisher sold 836 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $173.16, for a total value of $144,761.76. Following the sale, the director now owns 11,292 shares of the company’s stock, valued at $1,955,322.72. The trade was a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director J Robert Kerrey sold 5,001 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the completion of the sale, the director now directly owns 22,377 shares in the company, valued at approximately $3,322,984.50. This trade represents a 18.27% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,121 shares of company stock worth $8,846,305. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Tenet Healthcare

A number of hedge funds and other institutional investors have recently bought and sold shares of THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Tenet Healthcare in the 1st quarter valued at $26,000. Wayfinding Financial LLC purchased a new stake in Tenet Healthcare during the 1st quarter valued at about $28,000. SVB Wealth LLC bought a new stake in shares of Tenet Healthcare in the first quarter worth approximately $30,000. Colonial Trust Co SC grew its stake in shares of Tenet Healthcare by 85.7% in 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. Finally, N.E.W. Advisory Services LLC bought a new stake in Tenet Healthcare during the first quarter valued at approximately $31,000. Hedge funds and other 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.