Tenet Healthcare (NYSE:THC) PT Raised to $126.00

Tenet Healthcare (NYSE:THCFree Report) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $100.00 to $126.00 in a report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also commented on THC. Mizuho upped their price objective on shares of Tenet Healthcare from $90.00 to $100.00 and gave the company a buy rating in a research note on Friday, February 9th. Wolfe Research raised shares of Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price target for the company in a research report on Wednesday, March 27th. TheStreet raised shares of Tenet Healthcare from a c+ rating to a b- rating in a research report on Tuesday, February 6th. Wells Fargo & Company increased their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. Finally, Truist Financial increased their price target on shares of Tenet Healthcare from $92.00 to $105.00 and gave the stock a buy rating in a research report on Friday, February 9th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tenet Healthcare currently has an average rating of Buy and an average target price of $100.38.

Read Our Latest Research Report on Tenet Healthcare

Tenet Healthcare Stock Down 1.4 %

Tenet Healthcare stock opened at $100.44 on Friday. The company has a 50-day simple moving average of $96.79 and a 200-day simple moving average of $78.34. The firm has a market capitalization of $10.04 billion, a P/E ratio of 17.59, a P/E/G ratio of 3.15 and a beta of 2.08. 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 has a one year low of $51.04 and a one year high of $107.80.

Tenet Healthcare (NYSE:THCGet Free Report) 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 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 analyst estimates of $5.28 billion. During the same quarter in the prior year, the firm posted $1.96 EPS. Tenet Healthcare’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that Tenet Healthcare will post 6.09 earnings per share 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 dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the sale, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Richard J. Mark sold 14,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 33,303 shares in the company, valued at approximately $3,296,330.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $185,241.00. Following the transaction, the director now owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The disclosure for this sale can be found here. Insiders sold a total of 51,268 shares of company stock worth $4,944,810 over the last three months. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors have recently modified their holdings of THC. US Bancorp DE lifted its holdings in shares of Tenet Healthcare by 14.6% during the 1st quarter. US Bancorp DE now owns 1,428 shares of the company’s stock valued at $123,000 after purchasing an additional 182 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Tenet Healthcare during the 1st quarter valued at about $219,000. Natixis Advisors L.P. bought a new position in shares of Tenet Healthcare during the 1st quarter valued at about $1,651,000. APG Asset Management N.V. bought a new position in shares of Tenet Healthcare during the 1st quarter valued at about $1,769,000. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Tenet Healthcare by 13.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 63,273 shares of the company’s stock valued at $5,604,000 after purchasing an additional 7,365 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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