Assenagon Asset Management S.A. Acquires 60,693 Shares of Tenet Healthcare Corporation $THC

Assenagon Asset Management S.A. increased its stake in Tenet Healthcare Corporation (NYSE:THC) by 96.6% during the first quarter, HoldingsChannel reports. The firm owned 123,501 shares of the company’s stock after acquiring an additional 60,693 shares during the period. Assenagon Asset Management S.A.’s holdings in Tenet Healthcare were worth $23,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of THC. Triumph Capital Management purchased a new position in Tenet Healthcare in the 3rd quarter worth $25,000. Activest Wealth Management purchased a new position in Tenet Healthcare during the 4th quarter valued at about $26,000. Elyxium Wealth LLC purchased a new stake in shares of Tenet Healthcare in the fourth quarter worth $29,000. Meeder Asset Management Inc. raised its holdings in Tenet Healthcare by 146.2% in the 4th quarter. Meeder Asset Management Inc. now owns 192 shares of the company’s stock worth $38,000 after acquiring an additional 114 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Tenet Healthcare in the 2nd quarter worth $35,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tenet Healthcare

In related news, Director Nadja West sold 3,000 shares of the firm’s 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 owned 24,805 shares in the company, valued at approximately $4,399,166.75. This trade represents a 10.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Robert Kerrey sold 5,638 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $174.52, for a total value of $983,943.76. Following the transaction, 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. 0.97% of the stock is currently owned by insiders.

Tenet Healthcare Stock Up 2.0%

Shares of Tenet Healthcare stock opened at $187.64 on Friday. Tenet Healthcare Corporation has a 52-week low of $146.60 and a 52-week high of $247.21. The company has a 50 day moving average of $181.14 and a 200 day moving average of $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. The company has a market capitalization of $16.16 billion, a P/E ratio of 9.76, a P/E/G ratio of 1.51 and a beta of 1.28.

Tenet Healthcare (NYSE:THC) last issued its earnings results 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 for the quarter, compared to analyst estimates of $5.39 billion. Tenet Healthcare had a return on equity of 25.55% and a net margin of 7.94%.The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $4.36 EPS. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. As a group, research analysts forecast that Tenet Healthcare Corporation will post 17.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on THC. Weiss Ratings lowered Tenet Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. Robert W. Baird decreased their price target on shares of Tenet Healthcare from $245.00 to $210.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Mizuho upped 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. Wall Street Zen lowered Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 11th. Finally, Morgan Stanley set a $254.00 price objective on shares of Tenet Healthcare in a research report on Friday, May 1st. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.32.

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.