Robert W. Baird Reaffirms “Neutral” Rating for Tenet Healthcare (NYSE:THC)

Robert W. Baird reissued their neutral rating on shares of Tenet Healthcare (NYSE:THC) in a report released on Tuesday, Marketbeat Ratings reports. Robert W. Baird currently has a $137.00 price target on the stock, down from their prior price target of $153.00.

Other research analysts also recently issued research reports about the company. TD Cowen started coverage on Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 target price on the stock. Morgan Stanley initiated coverage on shares of Tenet Healthcare in a report on Wednesday, March 26th. They issued an “overweight” rating and a $165.00 price objective on the stock. KeyCorp reduced their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Finally, The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $165.44.

Tenet Healthcare Price Performance

THC opened at $120.73 on Tuesday. The company’s 50-day simple moving average is $128.99 and its two-hundred day simple moving average is $139.03. Tenet Healthcare has a 52-week low of $90.03 and a 52-week high of $171.20. The stock has a market capitalization of $11.48 billion, a P/E ratio of 3.75, a P/E/G ratio of 1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78.

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, topping the consensus estimate 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, analysts predict that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm’s 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 owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Bancorp raised its stake in Tenet Healthcare by 18.7% during the first quarter. Fifth Third Bancorp now owns 1,105 shares of the company’s stock valued at $149,000 after purchasing an additional 174 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Tenet Healthcare by 28.1% during the 1st quarter. GAMMA Investing LLC now owns 1,430 shares of the company’s stock valued at $192,000 after buying an additional 314 shares in the last quarter. Signet Financial Management LLC grew its position in Tenet Healthcare by 23.2% in the first quarter. Signet Financial Management LLC now owns 14,891 shares of the company’s stock worth $2,003,000 after acquiring an additional 2,805 shares in the last quarter. Pallas Capital Advisors LLC bought a new stake in Tenet Healthcare during the first quarter worth approximately $307,000. Finally, Farther Finance Advisors LLC raised its position in Tenet Healthcare by 606.9% during the first quarter. Farther Finance Advisors LLC now owns 2,545 shares of the company’s stock valued at $340,000 after purchasing an additional 2,185 shares during the period. 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.