Tenet Healthcare Corp Hits New 52-Week High at $49.65 (THC)
Tenet Healthcare Corp (NYSE:THC) shares reached a new 52-week high on Thursday , Analyst Ratings Network reports. The company traded as high as $49.65 and last traded at $48.97, with a volume of 1,242,418 shares. The stock had previously closed at $47.49.
THC has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Tenet Healthcare Corp in a research note on Tuesday. They now have a $57.00 price target on the stock, up previously from $52.00. Separately, 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. Finally, 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. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Tenet Healthcare Corp has an average rating of “Hold” and an average price target of $57.21.
The stock has a 50-day moving average of $45.05 and a 200-day moving average of $43.52. The company’s market cap is $4.827 billion.
Tenet Healthcare Corp (NYSE:THC) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.12) EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 66.0% on a year-over-year basis. On average, analysts predict that Tenet Healthcare Corp will post $1.20 earnings per share for the current fiscal year.
In other Tenet Healthcare Corp news, CEO Trevor Fetter sold 35,394 shares of Tenet Healthcare Corp stock on the open market in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $47.52, for a total transaction of $1,681,922.88. Following the transaction, the chief executive officer now directly owns 963,790 shares of the company’s stock, valued at approximately $45,799,301. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Tenet Healthcare Corporation (NYSE:THC), along with its subsidiaries, is an investor-owned health care services company.
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