Hsbc Holdings PLC Buys 258,956 Shares of Tenet Healthcare Corporation $THC

Key Points

• HSBC Holdings PLC dramatically increased its stake in Tenet Healthcare, buying 258,956 additional shares in the fourth quarter and lifting its holdings to 266,400 shares worth about $53.3 million.
• Other institutional investors also added to their positions, and 95.44% of Tenet Healthcare’s stock is now owned by hedge funds and other institutions.
• Tenet Healthcare reported better-than-expected quarterly earnings of $4.82 per share, while analysts currently rate the stock a Moderate Buy with an average target price of $244.32.

Hsbc Holdings PLC raised its position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 3,478.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 266,400 shares of the company's stock after acquiring an additional 258,956 shares during the quarter. Hsbc Holdings PLC owned approximately 0.31% of Tenet Healthcare worth $53,269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in THC. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tenet Healthcare by 1.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,490,350 shares of the company's stock valued at $1,488,484,000 after buying an additional 119,809 shares in the last quarter. Boston Partners boosted its stake in 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 acquiring an additional 494,581 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Tenet Healthcare by 20.3% during the fourth quarter. AQR Capital Management LLC now owns 2,256,539 shares of the company's stock valued at $448,419,000 after purchasing an additional 380,116 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Tenet Healthcare by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company's stock valued at $373,020,000 after purchasing an additional 157,109 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Tenet Healthcare in the 4th quarter worth approximately $248,494,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Nadja West sold 3,000 shares of the 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 sale, the director directly owned 24,805 shares of the company's stock, valued at approximately $4,399,166.75. This represents a 10.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $174.52, for a total transaction of $983,943.76. Following the transaction, the director directly owned 16,804 shares in the company, valued at $2,932,634.08. This represents a 25.12% decrease in their position. The SEC filing for this sale provides additional information. 0.97% of the stock is owned by company insiders.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $204.28 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.36 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $17.60 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.68 and a beta of 1.27. The firm's 50 day moving average price is $181.48 and its 200-day moving average price is $197.32. Tenet Healthcare Corporation has a twelve month low of $146.60 and a twelve month high of $247.21.

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

Wall Street Analysts Forecast Growth

THC has been the topic of a number of recent research reports. Stephens cut their target price on Tenet Healthcare from $275.00 to $260.00 and set an "overweight" rating on the stock in a research note on Monday, May 4th. Barclays decreased their price objective on shares of Tenet Healthcare from $257.00 to $238.00 and set an "overweight" rating for the company in a report on Tuesday, May 5th. Mizuho lifted 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. KeyCorp lowered their price target on Tenet Healthcare from $250.00 to $225.00 and set an "overweight" rating on the stock in a report on Friday, May 1st. Finally, Wall Street Zen downgraded Tenet Healthcare from a "strong-buy" rating to a "buy" rating in a report on Monday, May 11th. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $244.32.

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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