BNP Paribas Financial Markets Boosts Holdings in Tenet Healthcare Corporation $THC

Key Points

• BNP Paribas Financial Markets increased its Tenet Healthcare stake by 24.6% in the fourth quarter, ending with 228,144 shares valued at about $45.3 million.
• Tenet Healthcare continues to draw major institutional interest, with firms like Norges Bank and Eminence Capital also initiating large positions; overall, 95.44% of shares are owned by hedge funds and other institutions.
• Analysts remain broadly positive despite some lower price targets: 19 analysts rate THC a Buy, 3 rate it Hold, and the consensus price target is $244.16, even as recent insider sales were reported.

BNP Paribas Financial Markets lifted its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 24.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 228,144 shares of the company's stock after purchasing an additional 45,020 shares during the period. BNP Paribas Financial Markets owned 0.26% of Tenet Healthcare worth $45,337,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Tenet Healthcare during the 4th quarter valued at about $248,494,000. Eminence Capital LP purchased a new position in Tenet Healthcare during the 3rd quarter valued at about $225,263,000. Boston Partners lifted its position in Tenet Healthcare by 38.8% during the 3rd quarter. Boston Partners now owns 3,147,555 shares of the company's stock valued at $638,958,000 after acquiring an additional 880,413 shares during the period. AQR Capital Management LLC lifted its position in Tenet Healthcare by 62.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company's stock valued at $380,989,000 after acquiring an additional 720,160 shares during the period. Finally, Alliancebernstein L.P. lifted its position in Tenet Healthcare by 375.7% during the 2nd quarter. Alliancebernstein L.P. now owns 790,254 shares of the company's stock valued at $139,085,000 after acquiring an additional 624,125 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tenet Healthcare

In other news, EVP Paola M. Arbour sold 6,500 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, March 11th. The shares were 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 in the company, valued at $6,983,853.13. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J Robert Kerrey sold 5,638 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $174.52, for a total transaction of $983,943.76. Following the completion of the sale, the director owned 16,804 shares of the company's stock, valued at $2,932,634.08. This represents a 25.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 23,138 shares of company stock valued at $4,976,589. Insiders own 0.97% of the company's stock.

Wall Street Analysts Forecast Growth

THC has been the subject of a number of recent research reports. Wells Fargo & Company lowered their price target on shares of Tenet Healthcare from $265.00 to $213.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Stephens lowered their price target 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 reduced their price objective on shares of Tenet Healthcare from $245.00 to $210.00 and set a "neutral" rating for the company in a research note on Tuesday, May 5th. TD Cowen restated a "buy" rating on shares of Tenet Healthcare in a research note on Thursday, February 12th. Finally, Guggenheim reduced their price objective on shares of Tenet Healthcare from $283.00 to $252.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Nineteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $244.16.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $164.28 on Wednesday. The company has a 50 day moving average price of $189.23 and a 200-day moving average price of $201.72. Tenet Healthcare Corporation has a 52 week low of $146.60 and a 52 week high of $247.21. The firm has a market capitalization of $14.15 billion, a PE ratio of 8.54, a P/E/G ratio of 1.12 and a beta of 1.28. The company has a quick ratio of 1.30, a current ratio of 1.36 and a debt-to-equity ratio of 1.96.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $4.82 EPS for the quarter, topping analysts' consensus estimates of $4.21 by $0.61. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the business posted $4.36 earnings per share. The business's revenue for the quarter was up 2.6% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. As a group, equities research analysts expect that Tenet Healthcare Corporation will post 17.67 earnings per share for the current year.

Tenet Healthcare Company 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.

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