Deutsche Bank AG Grows Holdings in Tenet Healthcare Co. (NYSE:THC)

Deutsche Bank AG raised its position in Tenet Healthcare Co. (NYSE:THC) by 99.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,048 shares of the company’s stock after buying an additional 37,890 shares during the period. Deutsche Bank AG’s holdings in Tenet Healthcare were worth $9,600,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new position in Tenet Healthcare in the fourth quarter valued at $343,000. Swedbank AB increased its stake in shares of Tenet Healthcare by 100.0% during the fourth quarter. Swedbank AB now owns 40,000 shares of the company’s stock worth $5,049,000 after purchasing an additional 20,000 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tenet Healthcare during the fourth quarter worth about $410,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Tenet Healthcare during the fourth quarter worth about $5,892,000. Finally, abrdn plc increased its stake in shares of Tenet Healthcare by 29.0% during the fourth quarter. abrdn plc now owns 98,229 shares of the company’s stock worth $12,320,000 after purchasing an additional 22,066 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insiders Place Their Bets

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the sale, the director now directly owns 22,377 shares in the company, valued at $3,322,984.50. This represents a 18.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paola M. Arbour sold 6,461 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $160.20, for a total transaction of $1,035,052.20. Following the sale, the executive vice president now owns 27,848 shares in the company, valued at approximately $4,461,249.60. This trade represents a 18.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,987 shares of company stock worth $2,972,421 in the last ninety days. 0.81% of the stock is owned by corporate insiders.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $165.55 on Friday. The firm’s 50 day moving average price is $132.78 and its 200-day moving average price is $136.44. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare Co. has a one year low of $109.82 and a one year high of $171.20. The firm has a market cap of $15.38 billion, a P/E ratio of 5.14, a P/E/G ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same period in the prior year, the business posted $3.22 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on THC shares. Royal Bank of Canada boosted their target price on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Bank of America boosted their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday. Truist Financial boosted their price target on shares of Tenet Healthcare from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Robert W. Baird restated a “neutral” rating and set a $137.00 price target (down from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $174.94.

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.