Tenet Healthcare Corp Sets New 52-Week High After Analyst Upgrade (THC)
Tenet Healthcare Corp (NYSE:THC)’s share price reached a new 52-week high on Friday after RBC Capital raised their price target on the stock from $43.00 to $62.00, Analyst Ratings Network.com reports. RBC Capital currently has a sector perform rating on the stock. Tenet Healthcare Corp traded as high as $59.04 and last traded at $58.23, with a volume of 536,480 shares trading hands. The stock had previously closed at $58.64.
A number of other analysts have also recently weighed in on THC. 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $63.46.
In other Tenet Healthcare Corp news, CFO Daniel J. Cancelmi sold 12,291 shares of the company’s 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 SEC, which is available at this link.
The stock’s 50-day moving average is $50.52 and its 200-day moving average is $45.96. The company’s market cap is $5.702 billion.
Tenet Healthcare Corp (NYSE:THC) last issued its quarterly earnings data 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. On average, analysts predict that Tenet Healthcare Corp will post $1.39 earnings per share for the current fiscal year.
Tenet Healthcare Corporation (NYSE:THC) along with its subsidiaries, is an investor-owned health care services company.
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