Fifth Third Bancorp Increases Stock Holdings in Tenet Healthcare Corporation $THC

Fifth Third Bancorp lifted its holdings in Tenet Healthcare Corporation (NYSE:THC) by 3,984.0% in the first quarter, HoldingsChannel reports. The firm owned 45,659 shares of the company’s stock after buying an additional 44,541 shares during the quarter. Fifth Third Bancorp’s holdings in Tenet Healthcare were worth $8,616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Triumph Capital Management acquired a new position in shares of Tenet Healthcare in the third quarter worth $25,000. Activest Wealth Management purchased a new position in Tenet Healthcare in the fourth quarter valued at $26,000. Elyxium Wealth LLC acquired a new position in Tenet Healthcare during the 4th quarter worth $29,000. Canada Pension Plan Investment Board purchased a new stake in Tenet Healthcare during the 2nd quarter worth about $35,000. Finally, Meeder Asset Management Inc. raised its position in Tenet Healthcare by 146.2% in the 4th quarter. Meeder Asset Management Inc. now owns 192 shares of the company’s stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

NYSE THC opened at $192.16 on Thursday. The business’s 50-day moving average price is $184.15 and its 200 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. The firm has a market cap of $16.55 billion, a P/E ratio of 9.99, a P/E/G ratio of 1.51 and a beta of 1.27. Tenet Healthcare Corporation has a 52-week low of $146.60 and a 52-week high of $247.21.

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

Analyst Ratings Changes

A number of analysts recently weighed in on THC shares. Wall Street Zen lowered shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 11th. KeyCorp lowered their price target on shares of Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Robert W. Baird reduced their price objective on shares of Tenet Healthcare from $245.00 to $210.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Barclays boosted their target price on shares of Tenet Healthcare from $238.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings cut Tenet Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. Eighteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $245.37.

Insider Activity

In related news, Director J Robert Kerrey sold 5,638 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $174.52, for a total value of $983,943.76. Following the sale, the director directly owned 16,804 shares of the company’s stock, valued at approximately $2,932,634.08. This represents a 25.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $532,050.00. Following the completion of the sale, the director owned 24,805 shares in the company, valued at $4,399,166.75. This represents a 10.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.97% of the company’s stock.

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.