Tenet Healthcare (THC)

• Market cap: $11.8B
• 1 day: 5.55%
• 5 days: 0.17%
• 1 month: -6.52%
• 3 months: -12.47%
• 6 months: -23.20%
• Year to date: -3.33%
• 1 year: 23.70%
• 5 years: 545.26%
• 10 years: 136.29%
• Sector: Healthcare
• Industry: Medical Care Facilities

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 disclosures by fund managers ($100M+ AUM)

58% more call options, than puts

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

1.86% more ownership

Funds ownership: 91.08% [Q3] → 92.93% (+1.86%) [Q4]

5% less funds holding

Funds holding: 598 [Q3] → 571 (-27) [Q4]

11% less repeat investments, than reductions

Existing positions increased: 198 | Existing positions reduced: 222

13% less first-time investments, than exits

New positions opened: 88 | Existing positions closed: 101

21% less capital invested

Capital invested by funds: $14.5B [Q3] → $11.5B (-$3.02B) [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: $137 13% upside
• Avg. target: $161 33% upside
• High target: $177 46% upside

5 analyst ratings

• positive: 4 80%
• neutral: 1 20%
• negative: 0 0%

Baird Michael Ha 27% 1-year accuracy 6 / 22 met price target	13% upside $137	Neutral Downgraded	15 Apr 2025
Guggenheim Jason Cassorla 7% 1-year accuracy 1 / 14 met price target	36% upside $165	Buy Initiated	9 Apr 2025
Morgan Stanley Craig Hettenbach 29% 1-year accuracy 2 / 7 met price target	36% upside $165	Overweight Initiated	26 Mar 2025
Cantor Fitzgerald Sarah James 25% 1-year accuracy 25 / 99 met price target	46% upside $177	Overweight Reiterated	13 Feb 2025
Barclays Andrew Mok 28% 1-year accuracy 16 / 58 met price target	33% upside $161	Overweight Maintained	13 Feb 2025