Tenet Healthcare (NYSE:THC) Price Target Raised to $110.00

Tenet Healthcare (NYSE:THCGet Rating) had its target price boosted by research analysts at Citigroup from $96.00 to $110.00 in a report released on Friday, April 22nd, The Fly reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 45.71% from the company’s current price.

Other equities analysts also recently issued research reports about the company. UBS Group raised Tenet Healthcare from a “neutral” rating to a “buy” rating and upped their target price for the company from $83.00 to $111.00 in a research report on Thursday, February 10th. Jefferies Financial Group lifted their target price on Tenet Healthcare from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, March 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Tenet Healthcare from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, February 9th. SVB Leerink restated a “buy” rating and set a $100.00 target price on shares of Tenet Healthcare in a research report on Thursday, April 14th. Finally, Mizuho lifted their price target on shares of Tenet Healthcare from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, March 3rd. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $102.80.

Shares of NYSE:THC traded up $2.60 during trading on Friday, hitting $75.49. 1,055,485 shares of the company were exchanged, compared to its average volume of 1,337,081. The stock has a market capitalization of $8.11 billion, a PE ratio of 8.28, a price-to-earnings-growth ratio of 2.52 and a beta of 2.39. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 7.16. Tenet Healthcare has a fifty-two week low of $59.74 and a fifty-two week high of $92.65. The firm has a fifty day simple moving average of $84.55.

Tenet Healthcare (NYSE:THCGet Rating) last issued its earnings results on Wednesday, April 20th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.89. The company had revenue of $4.75 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Tenet Healthcare had a net margin of 4.92% and a return on equity of 51.84%. Tenet Healthcare’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 EPS. As a group, sell-side analysts predict that Tenet Healthcare will post 6.68 EPS for the current fiscal year.

In related news, Chairman Ronald A. Rittenmeyer sold 59,851 shares of Tenet Healthcare stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $90.12, for a total transaction of $5,393,772.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard J. Mark sold 6,000 shares of the stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $90.47, for a total value of $542,820.00. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its position in Tenet Healthcare by 33.5% in the 4th quarter. Fifth Third Bancorp now owns 629 shares of the company’s stock valued at $51,000 after buying an additional 158 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Tenet Healthcare during the third quarter worth approximately $59,000. Covestor Ltd acquired a new stake in Tenet Healthcare in the 4th quarter valued at $64,000. Prospera Financial Services Inc acquired a new position in Tenet Healthcare during the first quarter worth $73,000. Finally, Allworth Financial LP bought a new position in shares of Tenet Healthcare in the fourth quarter valued at $79,000. Institutional investors own 95.41% of the company’s stock.

Tenet Healthcare Company Profile (Get Rating)

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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