Fred Alger Management LLC Trims Holdings in Tenet Healthcare Corporation $THC

Fred Alger Management LLC lowered its holdings in Tenet Healthcare Corporation (NYSE:THC) by 29.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 97,606 shares of the company’s stock after selling 41,267 shares during the quarter. Fred Alger Management LLC owned approximately 0.11% of Tenet Healthcare worth $19,818,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in THC. William B. Walkup & Associates Inc. bought a new stake in Tenet Healthcare in the third quarter valued at $32,000. Canada Pension Plan Investment Board purchased a new stake in shares of Tenet Healthcare in the 2nd quarter worth about $35,000. Westside Investment Management Inc. boosted its stake in shares of Tenet Healthcare by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 192 shares of the company’s stock valued at $39,000 after purchasing an additional 96 shares in the last quarter. Trust Co. of Vermont purchased a new position in shares of Tenet Healthcare during the third quarter valued at about $41,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Tenet Healthcare by 50.9% in the second quarter. Geneos Wealth Management Inc. now owns 264 shares of the company’s stock worth $46,000 after buying an additional 89 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tenet Healthcare

In related news, EVP Thomas W. Arnst sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $234.04, for a total value of $5,616,960.00. Following the transaction, the executive vice president directly owned 8,012 shares of the company’s stock, valued at approximately $1,875,128.48. This represents a 74.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paola M. Arbour sold 6,500 shares of Tenet Healthcare stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $238.43, for a total value of $1,549,795.00. Following the completion of the sale, the executive vice president directly owned 29,291 shares of the company’s stock, valued at approximately $6,983,853.13. The trade was a 18.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 46,517 shares of company stock worth $10,943,111. Corporate insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on THC. KeyCorp upped their target price on Tenet Healthcare from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Wall Street Zen upgraded Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 1st. Guggenheim increased their price objective on Tenet Healthcare from $271.00 to $283.00 and gave the stock a “buy” rating in a report on Thursday. Barclays boosted their target price on shares of Tenet Healthcare from $240.00 to $257.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $265.00 price target on shares of Tenet Healthcare in a research note on Monday, February 16th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $250.56.

Tenet Healthcare Trading Down 3.5%

Tenet Healthcare stock opened at $219.58 on Tuesday. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $247.21. The company has a current ratio of 1.76, a quick ratio of 1.68 and a debt-to-equity ratio of 2.18. The business’s fifty day simple moving average is $213.71 and its two-hundred day simple moving average is $204.56. The company has a market capitalization of $19.09 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.10 and a beta of 1.39.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $4.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.08 by $0.62. Tenet Healthcare had a return on equity of 26.33% and a net margin of 6.60%.The firm had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same quarter in the previous year, the firm earned $3.44 EPS. Tenet Healthcare’s quarterly revenue was up 8.9% compared to the same quarter last year. Tenet Healthcare has set its FY 2026 guidance at 16.190-18.470 EPS. As a group, equities analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.