Raymond James Believes Tenet Healthcare (NYSE: THC) Won’t Stop Here

Raymond James analyst John Ransom maintained a Buy rating on Tenet Healthcare (THCResearch Report) yesterday. The company’s shares closed last Thursday at $70.45, close to its 52-week high of $73.65.

According to TipRanks.com, Ransom is a 5-star analyst with an average return of 15.0% and a 64.3% success rate. Ransom covers the Healthcare sector, focusing on stocks such as Aveanna Healthcare Holdings, Alignment Healthcare, and Acadia Healthcare.

Tenet Healthcare has an analyst consensus of Moderate Buy, with a price target consensus of $79.56, a 13.9% upside from current levels. In a report released today, Bank of America Securities also maintained a Buy rating on the stock with a $91.00 price target.

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Tenet Healthcare’s market cap is currently $7.72B and has a P/E ratio of 18.80. The company has a Price to Book ratio of -0.73.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of THC in relation to earlier this year.

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Tenet Healthcare Corp. engages in the provision of health care services. Through its subsidiaries and affiliates, it owns and facilitates acute care hospitals, ambulatory surgery centers, diagnostic imaging centers, and related health care facilities. It operates through the following business segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment comprises of acute care hospitals, ancillary outpatient facilities, urgent care centers, microhospitals and physician practices. The Ambulatory Care segment includes operations of USPI joint venture and the company’s nine Aspen facilities in the United Kingdom. The Conifer segment offers healthcare business process services in the areas of hospital and physician revenue cycle management and value-based care solutions to healthcare systems, as well as individual hospitals, physician practices, self-insured organizations, health plans, and other entities. The company was founded in 1975 and is headquartered in Dallas, TX.