Tenet Healthcare (NYSE:THC) Given New $126.00 Price Target at Deutsche Bank Aktiengesellschaft

Tenet Healthcare (NYSE:THC) had its target price lifted by Deutsche Bank Aktiengesellschaft from $100.00 to $126.00 in a research report sent to investors on Friday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

THC has been the subject of several other reports. TheStreet raised Tenet Healthcare from a c+ rating to a b- rating in a research note on Tuesday, February 6th. Wells Fargo & Company raised their target price on Tenet Healthcare from $105.00 to $115.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. Truist Financial raised their target price on Tenet Healthcare from $92.00 to $105.00 and gave the stock a buy rating in a research note on Friday, February 9th. Mizuho raised their target price on Tenet Healthcare from $90.00 to $100.00 and gave the stock a buy rating in a research note on Friday, February 9th. Finally, Barclays initiated coverage on shares of Tenet Healthcare in a report on Wednesday, March 6th. They issued an overweight rating and a $113.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and an average target price of $100.38.

Tenet Healthcare Trading Down 1.0 %

Shares of NYSE:THC opened at $99.40 on Friday. Tenet Healthcare has a 1 year low of $51.04 and a 1 year high of $107.80. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 3.15 and a beta of 2.08. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. The business’s 50 day moving average price is $96.97 and its 200-day moving average price is $78.57.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the firm posted $1.96 EPS. The business’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts forecast that Tenet Healthcare will post 6.09 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was 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 of the company’s stock, valued at $1,775,402.67. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Richard J. Mark sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard W. Fisher sold 2,100 shares of the company’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 value of $185,241.00. Following the completion of the transaction, the director now directly owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,268 shares of company stock valued at $4,944,810. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in THC. Rise Advisors LLC acquired a new position in Tenet Healthcare in the first quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. lifted its stake in Tenet Healthcare by 46.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company’s stock valued at $31,000 after buying an additional 199 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in Tenet Healthcare by 94.1% in the first quarter. Belpointe Asset Management LLC now owns 588 shares of the company’s stock valued at $35,000 after buying an additional 285 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Tenet Healthcare by 1,063.9% in the first quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock valued at $36,000 after buying an additional 383 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Tenet Healthcare in the first quarter valued at approximately $36,000. 95.44% of the stock is owned by institutional investors and hedge funds.

About Tenet Healthcare

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.