Tenet Healthcare Corporation $THC Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. nearly doubled its Tenet Healthcare position in the first quarter, buying 60,693 additional shares and bringing its total stake to 123,501 shares worth about $23.3 million.
• Tenet Healthcare reported better-than-expected Q1 earnings of $4.82 per share versus $4.21 expected, while revenue came in at $5.37 billion and rose 2.6% year over year.
• Analysts remain generally positive despite some target cuts, with the stock carrying a Moderate Buy consensus and an average price target of $244.32. Meanwhile, two directors recently sold shares, adding to insider selling activity.

Assenagon Asset Management S.A. lifted its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 96.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,501 shares of the company's stock after purchasing an additional 60,693 shares during the quarter. Assenagon Asset Management S.A. owned about 0.14% of Tenet Healthcare worth $23,306,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in Tenet Healthcare in the fourth quarter valued at $248,494,000. Eminence Capital LP purchased a new stake in Tenet Healthcare during the 3rd quarter worth approximately $225,263,000. Wellington Management Group LLP raised its position in shares of Tenet Healthcare by 1,114.2% during the 4th quarter. Wellington Management Group LLP now owns 1,135,801 shares of the company's stock valued at $225,706,000 after acquiring an additional 1,042,260 shares in the last quarter. Boston Partners grew its holdings in shares of Tenet Healthcare by 38.8% during the third quarter. Boston Partners now owns 3,147,555 shares of the company's stock valued at $638,958,000 after purchasing an additional 880,413 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Tenet Healthcare by 62.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company's stock worth $380,989,000 after purchasing an additional 720,160 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Trading Up 2.0%

Shares of Tenet Healthcare stock opened at $187.64 on Friday. The firm's 50-day moving average price is $181.14 and its two-hundred day moving average price is $197.51. 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 Corporation has a 12-month low of $146.60 and a 12-month high of $247.21. The company has a market capitalization of $16.16 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 1.51 and a beta of 1.28.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $4.82 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.61. The business 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%.Tenet Healthcare's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $4.36 EPS. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. On average, analysts forecast that Tenet Healthcare Corporation will post 17.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

THC has been the subject of a number of research analyst reports. Wells Fargo & Company cut their target price on Tenet Healthcare from $265.00 to $213.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Guggenheim reduced their target price on Tenet Healthcare from $283.00 to $252.00 and set a "buy" rating for the company in a report on Friday, May 1st. Stephens reduced their target price on shares of Tenet Healthcare from $275.00 to $260.00 and set an "overweight" rating for the company in a research note on Monday, May 4th. Barclays lowered their target price on shares of Tenet Healthcare from $257.00 to $238.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 5th. Finally, Mizuho lifted their price objective on Tenet Healthcare from $235.00 to $265.00 and gave the company an "outperform" rating in a report on Thursday, March 12th. Eighteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $244.32.

Insiders Place Their Bets

In related news, Director Nadja West sold 3,000 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $177.35, for a total transaction of $532,050.00. Following the sale, the director directly owned 24,805 shares in the company, valued at $4,399,166.75. This trade represents a 10.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 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 SEC filing for this sale provides additional information. 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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