Tenet Healthcare Corp Rating Reiterated by JPMorgan Chase & Co. (THC)
Tenet Healthcare Corp (NYSE:THC)‘s stock had its “overweight” rating reiterated by equities researchers at JPMorgan Chase & Co. in a research report issued on Tuesday. They currently have a $57.00 target price on the stock, up from their previous target price of $52.00. JPMorgan Chase & Co.’s price target would suggest a potential upside of 21.98% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Tenet Healthcare Corp from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 22nd. They now have a $49.00 price target on the stock. Separately, analysts at BMO Capital Markets reiterated a “market perform” rating on shares of Tenet Healthcare Corp in a research note on Monday, May 12th. They now have a $47.00 price target on the stock, up previously from $45.00. Finally, analysts at FBR Capital Markets raised their price target on shares of Tenet Healthcare Corp from $45.00 to $47.00 in a research note on Wednesday, May 7th. They now have a “market perform” rating on the stock. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Tenet Healthcare Corp has a consensus rating of “Hold” and a consensus target price of $57.21.
Shares of Tenet Healthcare Corp (NYSE:THC) traded up 0.88% during mid-day trading on Tuesday, hitting $47.14. 562,953 shares of the company’s stock traded hands. Tenet Healthcare Corp has a 1-year low of $36.87 and a 1-year high of $48.70. The stock’s 50-day moving average is $44.60 and its 200-day moving average is $43.46. The company’s market cap is $4.603 billion.
Tenet Healthcare Corp (NYSE:THC) last released its earnings data on Monday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.14) by $0.02. The company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the company posted $0.33 earnings per share. Tenet Healthcare Corp’s revenue was up 66.0% compared to the same quarter last year. Analysts expect that Tenet Healthcare Corp will post $1.20 EPS for the current fiscal year.
In other Tenet Healthcare Corp news, CEO Trevor Fetter unloaded 35,394 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $47.52, for a total value of $1,681,922.88. Following the completion of the sale, the chief executive officer now directly owns 963,790 shares in the company, valued at approximately $45,799,301. The sale was disclosed in a filing with the SEC, which is available at this link.
Tenet Healthcare Corporation (NYSE:THC), along with its subsidiaries, is an investor-owned health care services company.
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