Deutsche Bank Aktiengesellschaft Boosts Tenet Healthcare (NYSE:THC) Price Target to $126.00

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 note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 25.45% from the company’s current price.

Several other equities analysts have also commented on THC. TheStreet raised shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a report on Tuesday, February 6th. Wolfe Research raised shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 target price on the stock in a report on Wednesday, March 27th. Truist Financial increased their target price on shares of Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $104.00 price target on shares of Tenet Healthcare in a research report on Wednesday. Finally, StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, December 16th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $100.38.

Tenet Healthcare Stock Performance

NYSE THC opened at $100.44 on Friday. The company’s 50 day simple moving average is $96.79 and its two-hundred day simple moving average is $78.26. The stock has a market capitalization of $10.04 billion, a PE ratio of 17.59, a P/E/G ratio of 3.19 and a beta of 2.08. Tenet Healthcare has a 1 year low of $51.04 and a 1 year high of $107.80. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Thursday, February 8th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.96 EPS. Analysts predict 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 J. Mark sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the sale, the director now directly owns 33,303 shares of the company’s stock, valued at approximately $3,296,330.94. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Richard J. Mark sold 14,000 shares of Tenet Healthcare stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction 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 approximately $3,296,330.94. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction dated 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 51,268 shares of company stock valued at $4,944,810. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of THC. Global Assets Advisory LLC bought a new stake in Tenet Healthcare during the 1st quarter valued at about $1,767,000. Park Avenue Securities LLC increased its stake in Tenet Healthcare by 8.0% during the 1st quarter. Park Avenue Securities LLC now owns 13,255 shares of the company’s stock valued at $1,393,000 after purchasing an additional 978 shares in the last quarter. Rise Advisors LLC bought a new stake in Tenet Healthcare during the 1st quarter valued at about $29,000. GAMMA Investing LLC increased its stake in Tenet Healthcare by 17.0% during the 1st quarter. GAMMA Investing LLC now owns 731 shares of the company’s stock valued at $77,000 after purchasing an additional 106 shares in the last quarter. Finally, Kingdon Capital Management L.L.C. bought a new stake in Tenet Healthcare during the 4th quarter valued at about $4,833,000. 95.44% of the stock is owned by hedge funds and other 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.