Fred Alger Management LLC Decreases Stock Holdings in Tenet Healthcare Corporation $THC

Fred Alger Management LLC lessened its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 29.7% during the third quarter, HoldingsChannel.com reports. The fund owned 97,606 shares of the company’s stock after selling 41,267 shares during the quarter. Fred Alger Management LLC’s holdings in Tenet Healthcare were worth $19,818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in THC. Focus Partners Wealth lifted its position in Tenet Healthcare by 81.3% during the third quarter. Focus Partners Wealth now owns 11,664 shares of the company’s stock valued at $2,368,000 after purchasing an additional 5,229 shares during the period. Eminence Capital LP purchased a new stake in Tenet Healthcare during the 3rd quarter valued at $225,263,000. Cinctive Capital Management LP lifted its holdings in shares of Tenet Healthcare by 35.1% during the 3rd quarter. Cinctive Capital Management LP now owns 10,829 shares of the company’s stock valued at $2,199,000 after buying an additional 2,814 shares during the period. Bamco Inc. NY purchased a new position in shares of Tenet Healthcare in the 3rd quarter worth $711,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of Tenet Healthcare by 55.5% in the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,875 shares of the company’s stock worth $990,000 after acquiring an additional 1,740 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Thomas W. Arnst sold 8,000 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $238.85, for a total transaction of $1,910,800.00. Following the completion of the sale, the executive vice president owned 12 shares in the company, valued at approximately $2,866.20. This trade represents a 99.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Paola M. Arbour sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $238.43, for a total value of $1,549,795.00. Following the completion of the transaction, the executive vice president directly owned 29,291 shares in the company, valued at approximately $6,983,853.13. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 46,517 shares of company stock worth $10,943,111. Corporate insiders own 0.81% of the company’s stock.

Tenet Healthcare Trading Down 3.5%

Tenet Healthcare stock opened at $219.58 on Tuesday. The company has a current ratio of 1.76, a quick ratio of 1.68 and a debt-to-equity ratio of 2.18. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $247.21. The firm has a market capitalization of $19.09 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 1.10 and a beta of 1.39. The firm has a 50 day moving average of $213.71 and a 200 day moving average of $204.56.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.08 by $0.62. The business had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.47 billion. Tenet Healthcare had a net margin of 6.60% and a return on equity of 26.33%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.44 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 16.190-18.470 EPS. As a group, research analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on THC. Truist Financial raised their target price on Tenet Healthcare from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Morgan Stanley reiterated an “overweight” rating and issued a $260.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 12th. Royal Bank Of Canada boosted their target price on shares of Tenet Healthcare from $253.00 to $277.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Wall Street Zen upgraded shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 1st. Finally, UBS Group boosted their price objective on shares of Tenet Healthcare from $260.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Tenet Healthcare has an average rating of “Moderate Buy” and a consensus price target of $250.56.

Tenet Healthcare Profile

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.