Robert W. Baird Reiterates Neutral Rating for Tenet Healthcare (NYSE:THC)

Tenet Healthcare (NYSE:THC - Get Free Report)'s stock had its "neutral" rating restated by investment analysts at Robert W. Baird in a research report issued on Tuesday, Marketbeat reports. They currently have a $137.00 price objective on the stock, down from their previous price objective of $153.00. Robert W. Baird's price target would indicate a potential upside of 12.79% from the company's current price.

Several other equities research analysts have also recently weighed in on the company. Barclays dropped their price objective on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group lowered shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and cut their target price for the company from $196.00 to $140.00 in a research note on Monday, December 16th. StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Morgan Stanley started coverage on Tenet Healthcare in a research report on Wednesday, March 26th. They issued an "overweight" rating and a $165.00 target price for the company. Finally, KeyCorp reduced their price target on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $165.44.

Tenet Healthcare Price Performance

Shares of THC stock traded up $1.03 on Tuesday, reaching $121.47. The company's stock had a trading volume of 968,650 shares, compared to its average volume of 1,511,401. The company has a market capitalization of $11.46 billion, a P/E ratio of 3.77, a PEG ratio of 1.02 and a beta of 1.77. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The stock's 50 day simple moving average is $127.88 and its 200-day simple moving average is $138.14. 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 released its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating analysts' consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, equities analysts predict that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in THC. New Wave Wealth Advisors LLC purchased a new stake in shares of Tenet Healthcare in the fourth quarter valued at $343,000. Swedbank AB lifted its stake in shares of Tenet Healthcare by 100.0% during the 4th quarter. Swedbank AB now owns 40,000 shares of the company's stock worth $5,049,000 after acquiring an additional 20,000 shares during the last quarter. Signet Financial Management LLC bought a new stake in shares of Tenet Healthcare during the fourth quarter worth $1,526,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tenet Healthcare in the fourth quarter valued at approximately $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Tenet Healthcare during the 4th quarter worth $5,892,000. 95.44% of the stock is currently 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.