Tenet Healthcare posted Q4 EPS of $4.70, surpassing estimates by $0.65 on revenue growth of 8.9% year-over-year, while achieving a 6.49% net margin and 25.11% return on equity.

Shares jumped 11.8% to an intraday high of $216.04 following the earnings release, with trading volume dipping 4% to 897,753 shares versus the 933,138-session average.

RBC Capital raised its price target to $277, indicating a 22.4% potential upside from current trading levels around $226.