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

Tenet Healthcare (NYSE:THC - Free Report) had its target price upped by Deutsche Bank Aktiengesellschaft from $100.00 to $126.00 in a research note released on Friday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Wolfe Research upgraded shares of Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price objective for the company in a research report on Wednesday, March 27th. Mizuho lifted their price target on shares of Tenet Healthcare from $90.00 to $100.00 and gave the company a buy rating in a research report on Friday, February 9th. Truist Financial lifted their price target on shares of Tenet Healthcare from $92.00 to $105.00 and gave the company a buy rating in a research report on Friday, February 9th. Royal Bank of Canada lifted their price target on shares of Tenet Healthcare from $97.00 to $109.00 and gave the company an outperform rating in a research report on Friday, February 9th. Finally, StockNews.com upgraded shares of Tenet Healthcare from a hold rating to a buy rating in a research report on Saturday, December 16th. One investment 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 company. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $100.38.

Tenet Healthcare Price Performance

Shares of NYSE:THC traded down $1.40 during midday trading on Friday, hitting $100.42. The company's stock had a trading volume of 898,660 shares, compared to its average volume of 1,120,945. Tenet Healthcare has a 12-month low of $51.04 and a 12-month high of $107.80. The company has a market cap of $10.04 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 3.17 and a beta of 2.08. The business's 50 day simple moving average is $96.79 and its 200 day simple moving average is $78.18. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.42 and a current ratio of 1.51.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The firm had revenue of $5.38 billion during the quarter, compared to analysts' expectations of $5.28 billion. During the same period last year, the business earned $1.96 earnings per share. Tenet Healthcare's revenue was up 7.8% compared to the same quarter last year. On average, analysts forecast that Tenet Healthcare will post 6.09 EPS for the current year.

Insider Buying and Selling

In related news, 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 value of $185,241.00. Following the completion of the transaction, the director now owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Richard W. Fisher sold 2,100 shares of the business'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 completion of the sale, the director now owns 20,127 shares in the company, valued at approximately $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard J. Mark sold 14,000 shares of the business'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 transaction of $1,385,720.00. Following the sale, the director now owns 33,303 shares of the company's stock, valued at approximately $3,296,330.94. The disclosure for this sale can be found here. Insiders sold 51,268 shares of company stock worth $4,944,810 over the last 90 days. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Tenet Healthcare

Institutional investors have recently modified their holdings of the business. Rise Advisors LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter valued at $29,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Tenet Healthcare by 46.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company's stock valued at $31,000 after acquiring an additional 199 shares during the period. Belpointe Asset Management LLC increased its holdings in shares of Tenet Healthcare by 94.1% in the 1st quarter. Belpointe Asset Management LLC now owns 588 shares of the company's stock valued at $35,000 after acquiring an additional 285 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Tenet Healthcare by 1,063.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 419 shares of the company's stock valued at $36,000 after acquiring an additional 383 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in Tenet Healthcare in the 1st quarter valued at $36,000. 95.44% of the stock is owned by institutional investors and hedge funds.

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.