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

Tenet Healthcare (NYSE:THC) had its price target lifted by Royal Bank of Canada from $109.00 to $136.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also weighed in on the stock. Wells Fargo & Company lifted 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. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a buy rating in a research note on Friday, April 12th. Stephens lifted their price objective on shares of Tenet Healthcare from $95.00 to $122.00 and gave the stock an equal weight rating in a research note on Wednesday. Mizuho reissued a buy rating and set a $130.00 price objective (up previously from $118.00) on shares of Tenet Healthcare in a research note on Wednesday. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $104.00 price target on shares of Tenet Healthcare in a research note on Wednesday, April 10th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $111.06.

Tenet Healthcare Stock Up 3.3 %

Shares of NYSE:THC opened at $115.94 on Wednesday. Tenet Healthcare has a one year low of $51.04 and a one year high of $120.03. The company has a 50 day moving average of $98.80 and a 200-day moving average of $81.44. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.42. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of 4.50, a P/E/G ratio of 2.55 and a beta of 2.09.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping 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 analysts’ expectations of $5.15 billion. During the same quarter in the previous year, the company earned $1.42 EPS. Tenet Healthcare’s revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts forecast that Tenet Healthcare will post 8.89 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the sale, the director now owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Richard J. Mark sold 14,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the transaction, the director now directly owns 33,303 shares in the company, valued at $3,296,330.94. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, 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 valued at $4,944,810 over the last 90 days. 0.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at $78,254,000. Glenview Capital Management LLC increased its holdings in shares of Tenet Healthcare by 12.8% in the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock valued at $585,087,000 after purchasing an additional 877,180 shares during the last quarter. 8 Knots Management LLC acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at $44,412,000. Wedge Capital Management L L P NC increased its holdings in shares of Tenet Healthcare by 1,265.6% in the first quarter. Wedge Capital Management L L P NC now owns 468,158 shares of the company’s stock valued at $49,208,000 after purchasing an additional 433,877 shares during the last quarter. Finally, Greenlight Capital Inc. increased its holdings in shares of Tenet Healthcare by 44.3% in the fourth quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock valued at $99,448,000 after purchasing an additional 404,190 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.