Deutsche Bank AG Grows Stake in Tenet Healthcare Corporation $THC

Key Points

• Deutsche Bank AG increased its stake in Tenet Healthcare Corporation by 4.4%, now owning approximately $10.68 million worth of shares.
• Analyst opinions on Tenet Healthcare show a consensus of 14 buy ratings and two strong buy ratings, with a target price ranging from $167 to $238.
• Insider sales included EVP Paola M. Arbour selling 7,738 shares, representing a 27.79% decrease in her holdings.

Deutsche Bank AG boosted its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 4.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 79,399 shares of the company's stock after buying an additional 3,351 shares during the period. Deutsche Bank AG owned 0.09% of Tenet Healthcare worth $10,679,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Tenet Healthcare during the first quarter valued at about $212,000. Envestnet Asset Management Inc. grew its position in shares of Tenet Healthcare by 3.3% during the first quarter. Envestnet Asset Management Inc. now owns 203,582 shares of the company's stock valued at $27,382,000 after purchasing an additional 6,424 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Tenet Healthcare by 65.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,420 shares of the company's stock valued at $189,000 after purchasing an additional 562 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Tenet Healthcare by 28.1% during the first quarter. GAMMA Investing LLC now owns 1,430 shares of the company's stock valued at $192,000 after purchasing an additional 314 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Tenet Healthcare in the 1st quarter valued at about $1,986,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Royal Bank Of Canada increased their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Robert W. Baird lowered their price target on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a report on Friday, July 25th. UBS Group increased their price target on shares of Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Wolfe Research downgraded shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a report on Monday, July 28th. Finally, Bank of America increased their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $191.88.

Tenet Healthcare Trading Up 2.3%

NYSE THC traded up $4.04 during trading on Wednesday, hitting $182.07. The stock had a trading volume of 1,429,807 shares, compared to its average volume of 1,296,223. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. The stock has a market capitalization of $16.09 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 0.76 and a beta of 1.52. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $185.25. The stock has a 50 day simple moving average of $168.12 and a 200 day simple moving average of $149.13.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $1.18. The business had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The firm's quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Sell-side analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 1,222 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $164.96, for a total transaction of $201,581.12. Following the transaction, the director directly owned 22,377 shares of the company's stock, valued at approximately $3,691,309.92. This trade represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard W. Fisher sold 3,077 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $165.72, for a total transaction of $509,920.44. Following the transaction, the director directly owned 12,128 shares in the company, valued at approximately $2,009,852.16. This trade represents a 20.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,873 shares of company stock valued at $5,444,128. 0.81% of the stock is owned by insiders.

Tenet Healthcare 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.