Tenet Healthcare (NYSE:THC) PT Raised to $136.00 at Royal Bank of Canada

Tenet Healthcare (NYSE:THCGet Free Report) had its target price lifted by Royal Bank of Canada from $109.00 to $136.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 14.32% from the stock’s current price.

Other analysts also recently issued reports about the stock. Truist Financial reaffirmed a “buy” rating and issued a $130.00 price objective (up from $120.00) on shares of Tenet Healthcare in a report on Wednesday. Wolfe Research upgraded Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 target price on the stock in a research note on Wednesday, March 27th. Wells Fargo & Company raised their price objective on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. UBS Group raised their price target on shares of Tenet Healthcare from $137.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Stephens lifted their price target on Tenet Healthcare from $95.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $113.19.

Get Our Latest Stock Analysis on Tenet Healthcare

Tenet Healthcare Stock Up 2.6 %

NYSE:THC opened at $118.96 on Wednesday. Tenet Healthcare has a twelve month low of $51.04 and a twelve month high of $120.03. The company’s 50 day moving average is $99.29 and its two-hundred day moving average is $81.68. The company has a current ratio of 1.44, a quick ratio of 1.42 and a debt-to-equity ratio of 2.58. The company has a market cap of $11.80 billion, a PE ratio of 4.62, a P/E/G ratio of 2.55 and a beta of 2.09.

Tenet Healthcare (NYSE:THCGet Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $1.42 EPS. Analysts anticipate that Tenet Healthcare will post 8.89 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In related news, Director Richard J. Mark sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the sale, the director now directly owns 33,303 shares of the company’s stock, valued at approximately $3,296,330.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Paola M. Arbour sold 18,168 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the transaction, the executive vice president now owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard J. Mark sold 14,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the sale, the director now owns 33,303 shares in the company, valued at $3,296,330.94. The disclosure for this sale can be found here. Insiders have sold 51,268 shares of company stock worth $4,944,810 over the last quarter. 0.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tenet Healthcare

A number of hedge funds have recently added to or reduced their stakes in THC. SG Americas Securities LLC purchased a new position in Tenet Healthcare in the third quarter valued at $152,000. Handelsbanken Fonder AB increased its stake in shares of Tenet Healthcare by 5.5% during the third quarter. Handelsbanken Fonder AB now owns 17,218 shares of the company’s stock worth $1,134,000 after buying an additional 900 shares during the period. Raymond James & Associates raised its holdings in Tenet Healthcare by 32.2% in the third quarter. Raymond James & Associates now owns 135,477 shares of the company’s stock valued at $8,927,000 after acquiring an additional 32,992 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Tenet Healthcare by 11.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 100,502 shares of the company’s stock worth $6,622,000 after acquiring an additional 10,141 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tenet Healthcare by 9.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,966 shares of the company’s stock valued at $1,250,000 after purchasing an additional 1,582 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

About Tenet Healthcare

(Get Free Report)

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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