Tenet Healthcare (NYSE:THC) PT Raised to $126.00 at Deutsche Bank Aktiengesellschaft

Tenet Healthcare (NYSE:THC) had its target price hoisted by stock analysts at Deutsche Bank Aktiengesellschaft from $100.00 to $126.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 25.45% from the stock’s current price.

A number of other equities analysts also recently commented on THC. TheStreet upgraded shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Barclays initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $113.00 target price for the company. Truist Financial raised their target price on shares of Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Wolfe Research upgraded shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 target price for the company in a research note on Wednesday, March 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $104.00 target price on shares of Tenet Healthcare in a research note on Wednesday. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $100.38.

Tenet Healthcare Price Performance

THC stock opened at $100.44 on Friday. The stock has a 50-day moving average price of $96.79 and a two-hundred day moving average price of $78.26. The stock has a market cap of $10.04 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 3.19 and a beta of 2.08. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77. Tenet Healthcare has a 1 year low of $51.04 and a 1 year high of $107.80.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Thursday, February 8th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The company had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the business posted $1.96 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that Tenet Healthcare will post 6.09 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now directly owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Thomas W. Arnst sold 17,000 shares of Tenet Healthcare stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $94.84, for a total value of $1,612,280.00. Following the transaction, the executive vice president now directly owns 8,148 shares of the company’s stock, valued at $772,756.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the transaction, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,268 shares of company stock valued at $4,944,810. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Tenet Healthcare by 17.0% in the first quarter. GAMMA Investing LLC now owns 731 shares of the company’s stock valued at $77,000 after acquiring an additional 106 shares during the last quarter. Yousif Capital Management LLC increased its stake in Tenet Healthcare by 0.3% in the fourth quarter. Yousif Capital Management LLC now owns 42,825 shares of the company’s stock valued at $3,236,000 after acquiring an additional 131 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Tenet Healthcare by 1.7% during the fourth quarter. SummerHaven Investment Management LLC now owns 8,685 shares of the company’s stock worth $656,000 after buying an additional 145 shares during the last quarter. Xponance Inc. grew its stake in shares of Tenet Healthcare by 1.2% during the fourth quarter. Xponance Inc. now owns 12,337 shares of the company’s stock worth $932,000 after buying an additional 147 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Tenet Healthcare by 14.6% during the first quarter. US Bancorp DE now owns 1,428 shares of the company’s stock worth $123,000 after buying an additional 182 shares during the last quarter. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Company Profile

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.