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

Tenet Healthcare (NYSE:THC)‘s stock had its “neutral” rating reiterated by equities research analysts at Robert W. Baird in a research note issued on Tuesday,Benzinga reports. They presently have a $137.00 price target on the stock, down from their prior price target of $153.00. Robert W. Baird’s price target would indicate a potential upside of 9.80% from the company’s current price.

Other equities analysts have also issued reports about the stock. Truist Financial decreased their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Guggenheim assumed coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price target on the stock. KeyCorp cut their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Finally, Barclays reduced their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tenet Healthcare currently has an average rating of “Moderate Buy” and an average price target of $165.44.

Tenet Healthcare Trading Up 0.8 %

Shares of Tenet Healthcare stock opened at $124.77 on Tuesday. Tenet Healthcare has a 1-year low of $90.03 and a 1-year high of $171.20. 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 stock has a market cap of $11.87 billion, a P/E ratio of 3.87, a P/E/G ratio of 1.02 and a beta of 1.77. The stock’s 50 day simple moving average is $129.37 and its 200-day simple moving average is $139.16.

Tenet Healthcare (NYSE:THC) last issued 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 return on equity of 21.88% and a net margin of 15.48%. Analysts predict that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Insider Activity

In related 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 transaction, the director now owns 27,378 shares in the company, valued at $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Tenet Healthcare by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock valued at $268,591,000 after buying an additional 71,454 shares during the last quarter. Norges Bank acquired a new stake in shares of Tenet Healthcare during the 4th quarter worth about $190,819,000. Dimensional Fund Advisors LP lifted its stake in Tenet Healthcare by 22.4% during the fourth 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 during the last quarter. AQR Capital Management LLC increased its stake in Tenet Healthcare by 20.8% in the fourth quarter. AQR Capital Management LLC now owns 872,117 shares of the company’s stock valued at $110,087,000 after purchasing an additional 150,361 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Tenet Healthcare by 22.0% during the fourth quarter. Northern Trust Corp now owns 848,049 shares of the company’s stock worth $107,049,000 after purchasing an additional 152,671 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.