Deutsche Bank Aktiengesellschaft Boosts Tenet Healthcare (NYSE:THC) Price Target to $150.00

Tenet Healthcare (NYSE:THC) had its price objective hoisted by stock analysts at Deutsche Bank Aktiengesellschaft from $126.00 to $150.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 11.83% from the stock’s current price.

Several other equities analysts have also weighed in on THC. Wells Fargo & Company increased their price objective on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Wolfe Research upgraded Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price objective for the company in a report on Wednesday, March 27th. Truist Financial reiterated a “buy” rating and issued a $130.00 target price (up from $120.00) on shares of Tenet Healthcare in a report on Wednesday, May 1st. Barclays raised their price objective on shares of Tenet Healthcare from $113.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, TheStreet raised shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $116.94.

Tenet Healthcare Price Performance

Shares of NYSE:THC traded up $2.58 on Thursday, hitting $134.13. The company had a trading volume of 552,986 shares, compared to its average volume of 1,198,417. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.58. The company has a market cap of $13.10 billion, a PE ratio of 5.21, a PEG ratio of 1.35 and a beta of 2.09. Tenet Healthcare has a 52-week low of $51.04 and a 52-week high of $135.75. The business has a 50 day moving average of $111.76 and a 200 day moving average of $91.92.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping the consensus estimate of $1.45 by $1.77. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. Tenet Healthcare’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 earnings per share. As a group, equities analysts anticipate that Tenet Healthcare will post 8.73 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Thomas W. Arnst sold 17,000 shares of Tenet Healthcare stock in a transaction on Friday, March 1st. The stock was sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the transaction, the executive vice president now owns 8,148 shares in the company, valued at approximately $772,756.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Thomas W. Arnst sold 17,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the completion of the sale, the executive vice president now owns 8,148 shares in the company, valued at $772,756.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard W. Fisher sold 2,500 shares of Tenet Healthcare stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $123.20, for a total transaction of $308,000.00. Following the completion of the transaction, the director now owns 17,627 shares in the company, valued at approximately $2,171,646.40. The disclosure for this sale can be found here. Insiders have sold 61,598 shares of company stock worth $6,238,815 in the last quarter. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP grew its stake in Tenet Healthcare by 103.0% during the 3rd quarter. Quantbot Technologies LP now owns 37,509 shares of the company’s stock valued at $2,471,000 after purchasing an additional 19,035 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in Tenet Healthcare by 26.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 3,162 shares of the company’s stock valued at $208,000 after acquiring an additional 662 shares in the last quarter. Amalgamated Bank grew its stake in Tenet Healthcare by 18.4% during the 3rd quarter. Amalgamated Bank now owns 78,446 shares of the company’s stock valued at $5,169,000 after acquiring an additional 12,170 shares in the last quarter. First Eagle Investment Management LLC grew its stake in Tenet Healthcare by 37.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 176,404 shares of the company’s stock valued at $11,623,000 after acquiring an additional 47,952 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Tenet Healthcare during the 3rd quarter valued at about $623,000. 95.44% of the stock is currently 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.