Fifth Third Bancorp Buys 44,541 Shares of Tenet Healthcare Corporation $THC

Key Points

• Fifth Third Bancorp dramatically increased its stake in Tenet Healthcare, buying 44,541 shares in the first quarter and lifting its holdings to 45,659 shares worth about $8.6 million.
• Tenet Healthcare reported better-than-expected quarterly earnings, posting $4.82 per share versus estimates of $4.21, while revenue came in just below expectations at $5.37 billion.
• Analyst sentiment remains mostly positive, with 18 Buy ratings and 4 Hold ratings; the consensus target price is $245.37 even as several firms trimmed their price targets.

Fifth Third Bancorp boosted its position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 3,984.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,659 shares of the company's stock after buying an additional 44,541 shares during the period. Fifth Third Bancorp owned approximately 0.05% of Tenet Healthcare worth $8,616,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Triumph Capital Management bought a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $25,000. Activest Wealth Management purchased a new stake in Tenet Healthcare during the 4th quarter valued at $26,000. Elyxium Wealth LLC bought a new stake in Tenet Healthcare in the fourth quarter worth $29,000. Canada Pension Plan Investment Board purchased a new position in Tenet Healthcare during the second quarter worth $35,000. Finally, Meeder Asset Management Inc. raised its stake in shares of Tenet Healthcare by 146.2% in the fourth quarter. Meeder Asset Management Inc. now owns 192 shares of the company's stock valued at $38,000 after acquiring an additional 114 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Price Performance

Shares of THC opened at $192.16 on Thursday. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.36 and a quick ratio of 1.30. The company's fifty day moving average price is $184.15 and its 200-day moving average price is $197.51. Tenet Healthcare Corporation has a 1-year low of $146.60 and a 1-year high of $247.21. The firm has a market capitalization of $16.55 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 1.51 and a beta of 1.27.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $4.82 earnings per share for the quarter, topping analysts' consensus estimates of $4.21 by $0.61. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.39 billion. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The business's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.36 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. On average, equities research analysts predict that Tenet Healthcare Corporation will post 17.61 EPS for the current year.

Analyst Upgrades and Downgrades

THC has been the subject of a number of recent analyst reports. Guggenheim lowered their target price 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. Royal Bank Of Canada lowered their price objective on shares of Tenet Healthcare from $277.00 to $236.00 and set an "outperform" rating for the company in a research report on Friday, May 1st. Wells Fargo & Company raised their target price on shares of Tenet Healthcare from $213.00 to $231.00 and gave the stock an "overweight" rating in a research report on Monday. Barclays boosted their price target on Tenet Healthcare from $238.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, July 8th. Finally, TD Cowen lowered their target price on Tenet Healthcare from $242.00 to $233.00 and set a "buy" rating for the company in a report on Monday, June 22nd. Eighteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $245.37.

Insider Buying and Selling

In other news, Director Nadja West sold 3,000 shares of the business'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 transaction, the director directly owned 24,805 shares in the company, valued at $4,399,166.75. The trade was a 10.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director J Robert Kerrey sold 5,638 shares of the business's stock in a transaction 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 transaction, the director directly owned 16,804 shares in the company, valued at $2,932,634.08. This trade 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.

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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