Tenet Healthcare (NYSE:THC) Given New $72.00 Price Target at Royal Bank of Canada

Tenet Healthcare (NYSE:THC) had its price objective cut by Royal Bank of Canada from $87.00 to $72.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also commented on THC. Cantor Fitzgerald upped their price target on shares of Tenet Healthcare from $76.00 to $94.00 and gave the stock an overweight rating in a research report on Thursday, September 14th. UBS Group upped their price target on Tenet Healthcare from $95.00 to $104.00 and gave the stock a buy rating in a research note on Tuesday, August 1st. Mizuho upped their price target on Tenet Healthcare from $81.00 to $94.00 in a research note on Tuesday, July 11th. Stephens increased their target price on shares of Tenet Healthcare from $87.00 to $89.00 and gave the stock an equal weight rating in a research report on Tuesday, August 1st. Finally, Citigroup increased their price objective on shares of Tenet Healthcare from $83.00 to $90.00 and gave the stock a buy rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of Buy and a consensus target price of $85.53.

Tenet Healthcare Trading Up 0.9 %

Shares of THC opened at $53.72 on Tuesday. The company has a market capitalization of $5.45 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.38 and a beta of 2.15. The stock has a fifty day moving average of $65.71 and a two-hundred day moving average of $71.38. Tenet Healthcare has a fifty-two week low of $37.96 and a fifty-two week high of $85.40. The company has a debt-to-equity ratio of 5.47, a quick ratio of 1.35 and a current ratio of 1.44.

Tenet Healthcare (NYSE:THC) last released its earnings results on Monday, October 30th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.20 by $0.24. Tenet Healthcare had a return on equity of 26.60% and a net margin of 2.51%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same period in the prior year, the firm posted $1.44 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, analysts forecast that Tenet Healthcare will post 5.78 EPS for the current year.

Hedge Funds Weigh In On Tenet Healthcare

Several hedge funds and other institutional investors have recently modified their holdings of THC. Marshall Wace LLP boosted its stake in Tenet Healthcare by 259.1% during the 2nd quarter. Marshall Wace LLP now owns 2,281,465 shares of the company’s stock valued at $185,666,000 after purchasing an additional 1,646,137 shares during the period. BlackRock Inc. boosted its position in shares of Tenet Healthcare by 14.7% during the first quarter. BlackRock Inc. now owns 11,639,373 shares of the company’s stock worth $691,612,000 after buying an additional 1,491,799 shares during the period. Norges Bank acquired a new position in shares of Tenet Healthcare during the fourth quarter worth approximately $65,580,000. Greenlight Capital Inc. boosted its position in Tenet Healthcare by 116.6% during the 1st quarter. Greenlight Capital Inc. now owns 1,426,970 shares of the company’s stock worth $84,791,000 after acquiring an additional 768,070 shares during the period. Finally, Wedge Capital Management L L P NC boosted its position in Tenet Healthcare by 5,741.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 499,746 shares of the company’s stock worth $40,669,000 after acquiring an additional 491,191 shares during the period. Institutional investors and hedge funds own 93.56% of the company’s stock.

Tenet Healthcare Company Profile

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