Tenet Healthcare Corp Price Target Raised to $62.00 at RBC Capital (THC)
Analysts at RBC Capital increased their price objective on shares of Tenet Healthcare Corp (NYSE:THC) from $43.00 to $62.00 in a research report issued to clients and investors on Thursday. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price target indicates a potential upside of 7.47% from the company’s current price.
Shares of Tenet Healthcare Corp (NYSE:THC) traded up 1.70% during mid-day trading on Thursday, hitting $58.67. 412,638 shares of the company’s stock traded hands. Tenet Healthcare Corp has a one year low of $36.87 and a one year high of $58.03. The stock has a 50-day moving average of $50.21 and a 200-day moving average of $45.87. The company’s market cap is $5.745 billion.
Tenet Healthcare Corp (NYSE:THC) last posted its quarterly earnings results on Monday, August 4th. The company reported ($0.27) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.01 by $0.28. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 66.9% on a year-over-year basis. Analysts expect that Tenet Healthcare Corp will post $1.40 EPS for the current fiscal year.
In other Tenet Healthcare Corp news, CFO Daniel J. Cancelmi sold 12,291 shares of the stock on the open market in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $56.88, for a total value of $699,112.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Tenet Healthcare Corp in a research note on Wednesday, August 6th. They now have a $66.00 price target on the stock, up previously from $52.00. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Tenet Healthcare Corp in a research note on Wednesday, August 6th. They now have a $63.00 price target on the stock, up previously from $51.00. Finally, analysts at Barclays raised their price target on shares of Tenet Healthcare Corp from $52.00 to $66.00 in a research note on Wednesday, August 6th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $63.46.
Tenet Healthcare Corporation (NYSE:THC) along with its subsidiaries, is an investor-owned health care services company.
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