AQR Capital Management LLC Grows Stock Holdings in Tenet Healthcare Corporation $THC

Key Points

• AQR Capital Management increased its stake in Tenet Healthcare Corporation by 3.6%, owning approximately 903,270 shares, which are valued at around $118.9 million.
• Insider selling included EVP Lisa Y. Foo and director Christopher S. Lynch, who sold significant portions of their shares, reflecting decreases of 27.7% and 24.23% in their respective ownerships.
• Tenet Healthcare reported quarterly earnings of $4.02 per share, exceeding estimates, and set an FY 2025 guidance of $15.550-16.210 EPS, with an average target price of $192.69 among analysts.

AQR Capital Management LLC increased its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 903,270 shares of the company's stock after acquiring an additional 31,153 shares during the quarter. AQR Capital Management LLC owned approximately 0.97% of Tenet Healthcare worth $118,861,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of THC. Adage Capital Partners GP L.L.C. increased its stake in Tenet Healthcare by 111.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 469,529 shares of the company's stock valued at $63,152,000 after purchasing an additional 247,314 shares during the period. EP Wealth Advisors LLC acquired a new position in Tenet Healthcare in the 1st quarter valued at about $327,000. Maverick Capital Ltd. lifted its position in Tenet Healthcare by 135.5% during the 1st quarter. Maverick Capital Ltd. now owns 6,729 shares of the company's stock worth $905,000 after acquiring an additional 3,872 shares during the period. Royal Bank of Canada grew its stake in shares of Tenet Healthcare by 34.0% in the 1st quarter. Royal Bank of Canada now owns 119,349 shares of the company's stock valued at $16,052,000 after purchasing an additional 30,281 shares during the last quarter. Finally, Khrom Capital Management LLC raised its stake in shares of Tenet Healthcare by 74.4% during the first quarter. Khrom Capital Management LLC now owns 471,222 shares of the company's stock worth $63,379,000 after purchasing an additional 200,999 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on THC shares. JPMorgan Chase & Co. boosted their price objective on shares of Tenet Healthcare from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Wolfe Research cut shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a report on Monday, July 28th. Morgan Stanley boosted their target price on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Guggenheim raised their price target on Tenet Healthcare from $180.00 to $188.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, UBS Group upped their price objective on Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $192.69.

Tenet Healthcare Price Performance

THC traded up $3.88 during trading on Friday, reaching $196.40. 923,997 shares of the stock were exchanged, compared to its average volume of 919,935. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $196.73. The company has a market capitalization of $17.35 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 0.84 and a beta of 1.55. The business's 50 day moving average price is $171.97 and its two-hundred day moving average price is $153.22. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $1.18. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The business had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter in the previous year, the company posted $2.31 EPS. The business's revenue was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, equities research analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction of $697,093.28. Following the completion of the transaction, the director owned 12,358 shares of the company's stock, valued at approximately $2,179,827.62. This trade represents a 24.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lisa Y. Foo sold 8,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total value of $1,436,240.00. Following the completion of the sale, the executive vice president owned 20,878 shares in the company, valued at $3,748,227.34. This represents a 27.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,960 shares of company stock worth $2,134,801 over the last quarter. Company insiders own 0.81% of the company's stock.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.