AIA Group Ltd Acquires New Holdings in Tenet Healthcare Corporation $THC

Key Points

• AIA Group Ltd initiated a new position in Tenet Healthcare during the first quarter, buying 7,444 shares worth about $1.4 million.
• Tenet Healthcare reported strong quarterly earnings, posting $4.82 per share versus the $4.21 consensus estimate, while revenue came in at $5.37 billion and rose 2.6% year over year.
• Wall Street remains cautiously upbeat on the stock, with an average “Moderate Buy” rating and a consensus target price of $244.84, even though several analysts trimmed their price targets.

AIA Group Ltd bought a new position in Tenet Healthcare Corporation (NYSE:THC - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 7,444 shares of the company's stock, valued at approximately $1,405,000.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in Tenet Healthcare by 1.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,490,350 shares of the company's stock worth $1,488,484,000 after buying an additional 119,809 shares in the last quarter. Boston Partners grew its holdings in shares of Tenet Healthcare by 15.7% during the fourth quarter. Boston Partners now owns 3,642,136 shares of the company's stock worth $723,804,000 after purchasing an additional 494,581 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Tenet Healthcare by 20.3% in the fourth quarter. AQR Capital Management LLC now owns 2,256,539 shares of the company's stock worth $448,419,000 after purchasing an additional 380,116 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Tenet Healthcare by 8.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company's stock worth $373,020,000 after buying an additional 157,109 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Tenet Healthcare during the 4th quarter valued at $248,494,000. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Down 0.2%

Shares of NYSE:THC opened at $194.43 on Tuesday. The stock has a market capitalization of $16.75 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 1.61 and a beta of 1.27. The stock's 50-day moving average price is $184.41 and its 200-day moving average price is $197.41. 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 Corporation has a 12-month low of $146.60 and a 12-month high of $247.21.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.61. The company had revenue of $5.37 billion during the quarter, compared to analysts' expectations of $5.39 billion. Tenet Healthcare had a return on equity of 25.55% and a net margin of 7.94%.Tenet Healthcare's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $4.36 EPS. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. On average, equities analysts anticipate that Tenet Healthcare Corporation will post 17.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

THC has been the subject of several research reports. Stephens cut their target price on shares of Tenet Healthcare from $275.00 to $260.00 and set an "overweight" rating for the company in a research report on Monday, May 4th. Robert W. Baird cut their price objective on Tenet Healthcare from $245.00 to $210.00 and set a "neutral" rating for the company in a report on Tuesday, May 5th. KeyCorp reduced their price objective on Tenet Healthcare from $250.00 to $225.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. TD Cowen dropped their target price on Tenet Healthcare from $242.00 to $233.00 and set a "buy" rating for the company in a research report on Monday, June 22nd. Finally, Barclays increased their price target on shares of Tenet Healthcare from $238.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, July 8th. Eighteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $244.84.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,638 shares of the company's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $174.52, for a total value of $983,943.76. Following the completion of the transaction, the director directly owned 16,804 shares in the company, valued at approximately $2,932,634.08. This represents a 25.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nadja West sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $177.35, for a total value of $532,050.00. Following the completion of the transaction, the director owned 24,805 shares of the company's stock, valued at approximately $4,399,166.75. The trade was a 10.79% decrease in their position. The SEC filing for this sale provides additional information. 0.97% of the stock is owned by insiders.

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.

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