Royal Bank Of Canada Boosts Tenet Healthcare (NYSE:THC) Price Target to $252.00

Tenet Healthcare (NYSE:THC) had its price target boosted by equities researchers at Royal Bank Of Canada from $230.00 to $252.00 in a research report issued on Thursday, Marketbeat reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 22.02% from the stock’s previous close.

Several other research firms have also recently weighed in on THC. The Goldman Sachs Group assumed coverage on shares of Tenet Healthcare in a research report on Tuesday, October 14th. They issued a “buy” rating and a $224.00 price objective on the stock. Barclays upped their price objective on shares of Tenet Healthcare from $208.00 to $229.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Truist Financial set a $225.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, October 14th. Morgan Stanley set a $232.00 price target on shares of Tenet Healthcare and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Cantor Fitzgerald upped their price objective on shares of Tenet Healthcare from $190.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare has an average rating of “Moderate Buy” and a consensus target price of $225.31.

Tenet Healthcare Stock Performance

Shares of THC opened at $206.53 on Thursday. The company has a market cap of $18.25 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 0.89 and a beta of 1.52. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.27. The stock has a 50-day moving average price of $195.84 and a 200-day moving average price of $172.72. Tenet Healthcare has a 12-month low of $109.82 and a 12-month high of $217.43.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $3.70 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.37. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. Tenet Healthcare’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.93 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. As a group, equities analysts forecast that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Christopher S. Lynch sold 3,952 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction of $697,093.28. Following the completion of the sale, the director owned 12,358 shares of the company’s stock, valued at approximately $2,179,827.62. This represents a 24.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard W. Fisher sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total value of $521,075.00. Following the sale, the director directly owned 8,792 shares of the company’s stock, valued at approximately $1,832,516.56. This trade represents a 22.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 93,222 shares of company stock worth $17,682,090. 0.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. bought a new position in shares of Tenet Healthcare during the first quarter valued at approximately $212,000. Envestnet Asset Management Inc. raised its holdings in shares of Tenet Healthcare by 3.3% during the first quarter. Envestnet Asset Management Inc. now owns 203,582 shares of the company’s stock valued at $27,382,000 after acquiring an additional 6,424 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Tenet Healthcare by 65.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,420 shares of the company’s stock valued at $189,000 after acquiring an additional 562 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Tenet Healthcare by 34.0% during the first quarter. Royal Bank of Canada now owns 119,349 shares of the company’s stock valued at $16,052,000 after acquiring an additional 30,281 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Tenet Healthcare by 28.1% in the first quarter. GAMMA Investing LLC now owns 1,430 shares of the company’s stock worth $192,000 after purchasing an additional 314 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

About Tenet Healthcare

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