Fred Alger Management LLC Has $29.43 Million Stock Position in Tenet Healthcare Corporation $THC

Fred Alger Management LLC lifted its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 51.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 148,117 shares of the company’s stock after acquiring an additional 50,511 shares during the period. Fred Alger Management LLC’s holdings in Tenet Healthcare were worth $29,434,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of THC. NewEdge Advisors LLC raised its holdings in shares of Tenet Healthcare by 6.1% during the 1st quarter. NewEdge Advisors LLC now owns 2,890 shares of the company’s stock worth $389,000 after buying an additional 166 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Tenet Healthcare by 299.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,700 shares of the company’s stock worth $229,000 after purchasing an additional 1,274 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Tenet Healthcare in the 2nd quarter worth about $290,000. Quantbot Technologies LP acquired a new position in Tenet Healthcare in the 2nd quarter worth about $65,000. Finally, Amundi increased its holdings in Tenet Healthcare by 4,207.8% in the 2nd quarter. Amundi now owns 27,010 shares of the company’s stock worth $4,652,000 after purchasing an additional 26,383 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Trading Up 2.5%

NYSE THC opened at $183.51 on Wednesday. The business’s 50-day moving average price is $183.67 and its two-hundred day moving average price is $199.32. Tenet Healthcare Corporation has a 12 month low of $146.60 and a 12 month high of $247.21. The firm has a market capitalization of $15.81 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 1.47 and a beta of 1.28. The company has a current ratio of 1.36, a quick ratio of 1.30 and a debt-to-equity ratio of 1.96.

Tenet Healthcare (NYSE:THC) last released its earnings results on Thursday, April 30th. The company reported $4.82 EPS for the quarter, topping the consensus estimate of $4.21 by $0.61. Tenet Healthcare had a return on equity of 25.55% and a net margin of 7.94%.The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the firm posted $4.36 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. On average, analysts expect that Tenet Healthcare Corporation will post 17.61 EPS for the current year.

Insider Activity at Tenet Healthcare

In related news, Director Nadja West sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $177.35, for a total transaction of $532,050.00. Following the completion of the sale, the director owned 24,805 shares of the company’s stock, valued at $4,399,166.75. This trade represents a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director J Robert Kerrey sold 5,638 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $174.52, for a total value of $983,943.76. Following the sale, the director directly owned 16,804 shares of the company’s stock, valued at $2,932,634.08. This represents a 25.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

THC has been the subject of a number of recent research reports. Mizuho upped their target price on Tenet Healthcare from $235.00 to $265.00 and gave the stock an “outperform” rating in a report on Thursday, March 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tenet Healthcare in a report on Wednesday, March 4th. Stephens lowered their target price on Tenet Healthcare from $275.00 to $260.00 and set an “overweight” rating for the company in a report on Monday, May 4th. Truist Financial upped their target price on Tenet Healthcare from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, Barclays reduced their price target on Tenet Healthcare from $257.00 to $238.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Eighteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.16.

Tenet Healthcare Profile

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.