Tenet Healthcare (NYSE:THC) Coverage Initiated at Morgan Stanley

Equities research analysts at Morgan Stanley assumed coverage on shares of Tenet Healthcare (NYSE:THC - Get Free Report) in a report released on Wednesday, Marketbeat reports. The brokerage set an "overweight" rating and a $165.00 price target on the stock. Morgan Stanley's target price would indicate a potential upside of 23.90% from the stock's previous close.

A number of other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. restated an "overweight" rating and set a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. TD Cowen assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They set a "buy" rating and a $175.00 price objective for the company. KeyCorp decreased their target price on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Finally, Truist Financial reduced their price target on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $166.41.

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Tenet Healthcare Stock Performance

NYSE THC traded down $1.27 during trading hours on Wednesday, hitting $133.17. The company's stock had a trading volume of 864,471 shares, compared to its average volume of 1,506,396. 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 company has a market cap of $12.67 billion, a P/E ratio of 4.13, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The company's 50 day simple moving average is $132.43 and its two-hundred day simple moving average is $142.42. Tenet Healthcare has a 12 month low of $90.03 and a 12 month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share 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, sell-side analysts expect that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.93% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Colonial Trust Co SC raised its position 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 valued at $31,000 after buying an additional 114 shares in the last quarter. GeoWealth Management LLC lifted its stake in shares of 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 during the last quarter. True Wealth Design LLC purchased a new position in shares of Tenet Healthcare in the 3rd quarter worth approximately $38,000. WR Wealth Planners LLC raised its holdings in 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 buying an additional 312 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after buying an additional 110 shares during the period. 95.44% of the stock is 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.