Tenet Healthcare (THC)

• Market cap: $13.1B
• 1 day: 1.05%
• 5 days: 8.07%
• 1 month: 3.03%
• 3 months: 5.06%
• 6 months: -17.63%
• Year to date: 7.36%
• 1 year: 28.20%
• 5 years: 688.04%
• 10 years: 169.15%
• Sector: Healthcare
• Industry: Pharmaceutical Preparations

About: Tenet Healthcare is a Dallas-based healthcare services organization. It operates a collection of hospitals (about 60 as of December 2023) and over 450 ambulatory surgery centers and other outpatient facilities across the U.S., primarily in the South. Through its Conifer segment, Tenet also provides revenue cycle management solutions.

Employees: 106,500

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

58% more call options, than puts

Call options by funds: $370M | Put options by funds: $234M

2.18% more ownership

Funds ownership: 91.46% [Q3] → 93.64% (+2.18%) [Q4]

5% less funds holding

Funds holding: 598 [Q3] → 569 (-29) [Q4]

10% less repeat investments, than reductions

Existing positions increased: 199 | Existing positions reduced: 222

14% less first-time investments, than exits

New positions opened: 86 | Existing positions closed: 100

21% less capital invested

Capital invested by funds: $14.5B [Q3] → $11.5B (-$3.06B) [Q4]

42% less funds holding in top 10

Funds holding in top 10: 19 [Q3] → 11 (-8) [Q4]

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $161 20% upside
• Avg. target: $173 28% upside
• High target: $185 38% upside

5 analyst ratings

• positive: 5 100%
• neutral: 0 0%
• negative: 0 0%

Morgan Stanley Craig Hettenbach 29% 1-year accuracy 2 / 7 met price target	23% upside $165	Overweight Initiated	26 Mar 2025
Cantor Fitzgerald Sarah James 34% 1-year accuracy 38 / 113 met price target	32% upside $177	Overweight Reiterated	13 Feb 2025
Barclays Andrew Mok 44% 1-year accuracy 26 / 59 met price target	20% upside $161	Overweight Maintained	13 Feb 2025
Keybanc Tim Rezvan 27% 1-year accuracy 10 / 37 met price target	38% upside $185	Overweight Maintained	7 Jan 2025
Truist Securities David Macdonald 61% 1-year accuracy 57 / 94 met price target	30% upside $175	Buy Maintained	6 Jan 2025