Tenet Healthcare (THC)

• Market cap: $14.5B
• 1 day: -0.29%
• 5 days: -1.08%
• 1 month: -11.33%
• 3 months: 12.80%
• 6 months: 11.98%
• Year to date: 24.63%
• 1 year: 2.09%
• 5 years: 480.58%
• 10 years: 175.14%
• Sector: Healthcare
• Industry: Medical Care Facilities

About: Tenet Healthcare is a Dallas-based healthcare services organization. It operates acute and specialty hospitals (47 as of December 2024) and over 500 ambulatory surgery centers and other outpatient facilities across the US, primarily in the South. Through its Conifer segment, Tenet also provides revenue cycle management solutions.

Employees: 98,000

Fund manager confidence

Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

52% more call options, than puts

Call options by funds: $235M | Put options by funds: $155M

27% more funds holding in top 10

Funds holding in top 10: 11 [Q4 2024] → 14 (+3) [Q1 2025]

10% more repeat investments, than reductions

Existing positions increased: 207 | Existing positions reduced: 189

4% more capital invested

Capital invested by funds: $11.5B [Q4 2024] → $11.9B (+$470M) [Q1 2025]

5% less first-time investments, than exits

New positions opened: 88 | Existing positions closed: 93

2.85% less ownership

Funds ownership: 95.47% [Q4 2024] → 92.62% (-2.85%) [Q1 2025]

3% less funds holding

Funds holding: 572 [Q4 2024] → 555 (-17) [Q1 2025]

Research analyst outlook

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

• Low target: $154 1% downside
• Avg. target: $194 24% upside
• High target: $238 53% upside

12 analyst ratings

• positive: 10 83%
• neutral: 2 17%
• negative: 0 0%

Baird Michael Ha	7% upside $167	Neutral Maintained	25 Jul 2025
Barclays Andrew Mok	33% upside $208	Overweight Maintained	24 Jul 2025
UBS A.J. Rice	53% upside $238	Buy Maintained	23 Jul 2025
Raymond James John Ransom	28% upside $200	Outperform Reiterated	23 Jul 2025
Guggenheim Jason Cassorla	20% upside $188	Buy Maintained	23 Jul 2025