Deutsche Bank Aktiengesellschaft Increases Tenet Healthcare (NYSE:THC) Price Target to $110.00

Tenet Healthcare (NYSE:THC – Get Rating) had its price target lifted by equities research analysts at Deutsche Bank Aktiengesellschaft from $100.00 to $110.00 in a report released on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 26.92% from the stock’s current price.

A number of other research firms also recently commented on THC. Jefferies Financial Group increased their price objective on shares of Tenet Healthcare from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, March 7th. UBS Group upgraded shares of Tenet Healthcare from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $83.00 to $111.00 in a research note on Thursday, February 10th. SVB Leerink restated a “buy” rating and set a $100.00 price objective on shares of Tenet Healthcare in a research note on Thursday, April 14th. Wells Fargo & Company initiated coverage on shares of Tenet Healthcare in a research note on Monday, March 28th. They issued an “overweight” rating and a $100.00 target price for the company. Finally, Raymond James upgraded shares of Tenet Healthcare from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $105.00 to $120.00 in a research note on Thursday, January 20th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $99.13.

Shares of NYSE THC opened at $86.67 on Friday. The firm has a market cap of $9.31 billion, a PE ratio of 10.29, a PEG ratio of 4.93 and a beta of 2.42. The company has a current ratio of 1.38, a quick ratio of 1.31 and a debt-to-equity ratio of 7.55. Tenet Healthcare has a 1-year low of $54.54 and a 1-year high of $92.65. The company has a fifty day moving average price of $85.89 and a 200 day moving average price of $78.61.

Tenet Healthcare (NYSE:THC – Get Rating) last announced its earnings results on Wednesday, April 20th. The company reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.89. The firm had revenue of $4.75 billion during the quarter, compared to analyst estimates of $4.74 billion. Tenet Healthcare had a net margin of 4.69% and a return on equity of 56.04%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 EPS. Equities research analysts forecast that Tenet Healthcare will post 6.58 EPS for the current year.

In other news, Chairman Ronald A. Rittenmeyer sold 59,851 shares of the firm’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $90.12, for a total transaction of $5,393,772.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard J. Mark sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $90.47, for a total transaction of $542,820.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of THC. FMR LLC boosted its position in shares of Tenet Healthcare by 13.7% during the 1st quarter. FMR LLC now owns 1,785,117 shares of the company’s stock worth $51,483,000 after acquiring an additional 215,600 shares in the last quarter. Morgan Stanley boosted its position in Tenet Healthcare by 356.8% in the second quarter. Morgan Stanley now owns 581,666 shares of the company’s stock valued at $38,965,000 after buying an additional 454,329 shares in the last quarter. SG Americas Securities LLC boosted its position in Tenet Healthcare by 76.6% in the third quarter. SG Americas Securities LLC now owns 17,298 shares of the company’s stock valued at $1,149,000 after buying an additional 7,502 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in Tenet Healthcare in the third quarter valued at approximately $59,000. Finally, Victory Capital Management Inc. boosted its position in Tenet Healthcare by 5.5% in the third quarter. Victory Capital Management Inc. now owns 498,709 shares of the company’s stock valued at $33,134,000 after buying an additional 26,194 shares in the last quarter. Institutional investors and hedge funds own 94.38% of the company’s stock.

Tenet Healthcare Company Profile (Get Rating)

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

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