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

Tenet Healthcare (NYSE:THC) had its target price boosted by Royal Bank of Canada from $109.00 to $136.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts also recently issued reports on the stock. Cantor Fitzgerald reaffirmed an overweight rating and issued a $104.00 price objective on shares of Tenet Healthcare in a research report on Wednesday, April 10th. Barclays initiated coverage on Tenet Healthcare in a research note on Wednesday, March 6th. They set an overweight rating and a $113.00 target price for the company. UBS Group increased their target price on Tenet Healthcare from $137.00 to $150.00 and gave the company a buy rating in a research note on Wednesday. Mizuho reiterated a buy rating and set a $130.00 target price (up from $118.00) on shares of Tenet Healthcare in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Tenet Healthcare from $100.00 to $126.00 and gave the company a buy rating in a research note on Friday, April 12th. One analyst has 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. According to MarketBeat, Tenet Healthcare currently has an average rating of Buy and a consensus price target of $111.06.

Tenet Healthcare Stock Up 3.3 %

THC opened at $115.94 on Wednesday. The firm has a 50 day moving average price of $98.80 and a 200 day moving average price of $81.44. The company has a market cap of $11.50 billion, a PE ratio of 4.50, a price-to-earnings-growth ratio of 2.55 and a beta of 2.09. Tenet Healthcare has a 1 year low of $51.04 and a 1 year high of $120.03. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.42 and a current ratio of 1.44.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter last year, the company earned $1.42 earnings per share. Tenet Healthcare’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts expect that Tenet Healthcare will post 8.89 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the sale, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the sale, the executive vice president now directly owns 29,803 shares in the company, valued at $2,889,698.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the sale, the director now owns 20,127 shares in the company, valued at $1,775,402.67. The disclosure for this sale can be found here. Insiders have sold a total of 51,268 shares of company stock worth $4,944,810 over the last ninety days. 0.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tenet Healthcare

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

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.