Tenet Healthcare Corp. (NYSE:THC) was upgraded by stock analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $55.00 price target on the stock, up from their previous price target of $47.00. Goldman Sachs Group Inc.’s price objective suggests a potential upside of 19.02% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank raised their price target on shares of Tenet Healthcare Corp. from $55.00 to $65.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital cut their price target on shares of Tenet Healthcare Corp. from $52.00 to $47.00 in a research note to investors on Monday, August 12th. They now have a “sector perform” rating on the stock. Finally, analysts at Raymond James cut their price target on shares of Tenet Healthcare Corp. from $52.00 to $50.00 in a research note to investors on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $48.94.
In other Tenet Healthcare Corp. news, Director John Ellis Bush unloaded 16,582 shares of the stock on the open market in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $45.10, for a total transaction of $747,848.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Tenet Healthcare Corp. (NYSE:THC) traded down 1.23% during mid-day trading on Tuesday, hitting $45.64. The stock had a trading volume of 651,255 shares. Tenet Healthcare Corp. has a one year low of $22.86 and a one year high of $49.47. The stock has a 50-day moving average of $40.95 and a 200-day moving average of $43.50. The company’s market cap is $4.637 billion.
Tenet Healthcare Corp. (NYSE:THC) last announced its earnings results on Tuesday, August 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by $1.24. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts expect that Tenet Healthcare Corp. will post $2.26 EPS for the current fiscal year.
Tenet Healthcare Corporation (NYSE:THC), along with its subsidiaries, is an investor-owned health care services company whose subsidiaries and affiliates primarily operated 49 hospitals, 117 outpatient centers and Conifer Health Solutions (Conifer), which provides business process solutions to more than 600 hospital and other clients nationwide.
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