Fred Alger Management LLC Buys 50,511 Shares of Tenet Healthcare Corporation $THC

Key Points

• Fred Alger Management LLC increased its Tenet Healthcare stake by 51.7% in the fourth quarter, buying 50,511 additional shares and bringing its total holdings to 148,117 shares worth about $29.4 million.
• Tenet Healthcare reported better-than-expected quarterly earnings of $4.82 per share, topping analyst estimates, while revenue came in just below consensus at $5.37 billion. The company also lifted its FY2026 guidance to $16.38-$18.68 EPS.
• Wall Street remains broadly constructive on the stock, with 18 Buy ratings and 4 Hold ratings and a consensus price target of $244.16, even as some analysts trimmed their targets. Meanwhile, two directors recently sold shares of the company.

Fred Alger Management LLC raised its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 51.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,117 shares of the company's stock after purchasing an additional 50,511 shares during the quarter. Fred Alger Management LLC owned approximately 0.17% of Tenet Healthcare worth $29,434,000 at the end of the most recent reporting period.

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

Tenet Healthcare Stock Performance

THC opened at $183.51 on Wednesday. The business has a fifty day simple moving average of $183.67 and a 200 day simple moving average of $199.32. The company 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. Tenet Healthcare Corporation has a 1 year low of $146.60 and a 1 year high of $247.21. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.36 and a quick ratio of 1.30.

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

Insiders Place Their Bets

In other news, Director J Robert Kerrey sold 5,638 shares of the company's stock in a transaction 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Nadja West sold 3,000 shares of the company's stock in a transaction 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on THC. Guggenheim reduced their target price on Tenet Healthcare from $283.00 to $252.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Mizuho lifted their target price on Tenet Healthcare from $235.00 to $265.00 and gave the stock an "outperform" rating in a research note on Thursday, March 12th. Robert W. Baird reduced their target price on Tenet Healthcare from $245.00 to $210.00 and set a "neutral" rating for the company in a research note on Tuesday, May 5th. Barclays reduced their target price on Tenet Healthcare from $257.00 to $238.00 and set an "overweight" rating for the company in a research note on Tuesday, May 5th. Finally, Morgan Stanley set a $254.00 target price on Tenet Healthcare in a research note on Friday, May 1st. Eighteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $244.16.

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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