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

Tenet Healthcare (NYSE:THC - Get Free Report) had its price target hoisted by equities researchers at Morgan Stanley from $175.00 to $210.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's price objective would suggest a potential upside of 27.91% from the company's previous close.

Several other research analysts have also recently weighed in on the stock. Baird R W cut shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Barclays lifted their price objective on Tenet Healthcare from $171.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday, June 2nd. Cantor Fitzgerald reissued an "overweight" rating and issued a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. Bank of America upped their price objective on Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Stephens upgraded Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Four 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $182.24.

Tenet Healthcare Stock Down 4.2%

THC traded down $7.28 during midday trading on Monday, reaching $164.18. The company's stock had a trading volume of 856,503 shares, compared to its average volume of 1,516,881. The stock's 50-day moving average is $144.43 and its 200-day moving average is $136.91. Tenet Healthcare has a 1 year low of $109.82 and a 1 year high of $174.14. The firm has a market capitalization of $15.25 billion, a price-to-earnings ratio of 5.09, a PEG ratio of 1.02 and a beta of 1.65. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, beating the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter last year, the firm earned $3.22 earnings per share. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. As a group, research analysts expect that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Buying and Selling

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of the business's stock in a transaction 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 transaction, the director now owns 22,377 shares in the company, valued at $3,322,984.50. The trade was a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James L. Bierman sold 13,836 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $159.58, for a total value of $2,207,948.88. Following the completion of the sale, the director now owns 41,435 shares in the company, valued at approximately $6,612,197.30. The trade was a 25.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,646 shares of company stock worth $10,041,025. Insiders own 0.81% of the company's stock.

Institutional Inflows and Outflows

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

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