- Glenview adds Humana, exits Expedia, reduces Teva among Q1 trades
May 15, 2026
[Teva logo on its USA headquarters building in Parsippany, NJ, USA.]
JHVEPhoto
Glenview Capital Management added Humana (HUM [https://seekingalpha.com/symbol/HUM]), Cisco (CSCO [https://seekingalpha.com/symbol/CSCO]), Baker Hughes (BKR [https://seekingalpha.com/symbol/BKR]), Akamai (AKAM [https://seekingalpha.com/symbol/AKAM]), and Intel (INTC [https://seekingalpha.com/symbol/INTC]) in Q1, according to its latest 13F filing. [https://www.sec.gov/Archives/edgar/data/1138995/000090514826002354/xslForm13F_X02/form13fInfoTable.xml]
The hedge fund exited its stakes in Expedia (EXPE [https://seekingalpha.com/symbol/EXPE]), Knight-Swift (KNX [https://seekingalpha.com/symbol/KNX]), Accenture (ACN [https://seekingalpha.com/symbol/ACN]), IQVIA (IQV [https://seekingalpha.com/symbol/IQV]), and Qnity Electronics (Q [https://seekingalpha.com/symbol/Q]).
Glenview increased its stake in Meta (META [https://seekingalpha.com/symbol/META]) with 111,090 shares valued at $62.5M, Cigna (CI [https://seekingalpha.com/symbol/CI]) with 219,474 shares at $56.2M, AMD (AMD [https://seekingalpha.com/symbol/AMD]) with 256,604 shares valued at $48M, Uber (UBER [https://seekingalpha.com/symbol/UBER]) with 748,171 shares valued at $47M, and Applied Materials (AMAT [https://seekingalpha.com/symbol/AMAT]) with 67.6M
The fund decreased its stake in Teva (TEVA [https://seekingalpha.com/symbol/TEVA]) by 10 million shares, ZoomInfo (GTM [https://seekingalpha.com/symbol/GTM]) by 4.1M shares, Tenet (THC [https://seekingalpha.com/symbol/THC]) by 458,899 shares, DigitalOcean (DOCN [https://seekingalpha.com/symbol/DOCN]) by 1.75M shares, and US Foods (USFD [https://seekingalpha.com/symbol/USFD]) by 753,756 shares.
MORE ON HUMANA, EXPEDIA
* Expedia Group, Inc. 2026 Q1 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4902249-expedia-group-inc-2026-q1-results-earnings-call-presentation]
* Expedia: Strong Execution, Expanding Margins, And Aggressive Buybacks Support Our Strong Buy Upgrade [https://seekingalpha.com/article/4901730-expedia-strong-execution-expanding-margins-and-aggressive-buybacks-support-our-strong-buy-upgrade-rating-upgrade]
* Expedia Group, Inc. (EXPE) Q1 2026 Earnings Call Transcript [https://seekingalpha.com/article/4900824-expedia-group-inc-expe-q1-2026-earnings-call-transcript]
* Expedia projects Q2 gross bookings growth of 7% to 9% amid reiterated full-year margin expansion of 100 to 125 bps [https://seekingalpha.com/news/4589452-expedia-projects-q2-gross-bookings-growth-of-7-percent-to-9-percent-amid-reiterated-full-year]
* Stocks to watch on Thursday after hours: COIN, NET, OPEN, EXPE [https://seekingalpha.com/news/4589196-stocks-to-watch-on-thursday-after-hours-coin-net-open-expe]
- Tenet Files Material Contracts in Conjunction with Continuous Disclosure Review
May 15, 2026
Toronto, Ontario--(Newsfile Corp. - May 15, 2026) - Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) ("Tenet" or the "Company"), an innovative analytics service provider, owner and operator of the Cubeler Business Development Platform, announces that it has filed additional documents on SEDAR+ following a continuous disclosure review by Staff of the Ontario Securities Commission ("OSC"). During the course of the review, the following previously unfiled contracts were deemed to be material contract (the "Material Contracts") and were therefore subsequently filed in connection with the Company's application for a full revocation of the failure-to-file cease trade order of its securities:
4 Nominee shareholder agreements through which the Company owns its 51% equity stake in its ASFC subsidiary. Registrar and Transfer Agent Agreement between the Company and AST Trust Company (Canada) dated July 15, 2011. Agreement dated November 1, 2017, between the Company and Jiudong Investment Management Co., Ltd. for the creation of the Company's ASFC subsidiary. Lender Partnership Agreement dated June 6, 2018 between the Company and Wuxi Jinxin Internet Small Loans Ltd. ("WJISL") pursuant to which WJISL agreed to become a registered lender on the Cubeler platform. Lender Partnership Agreement dated June 14, 2018 between the Company and Hua Xin Lending Company ("Hua Xin"), pursuant to which Hua Xin agreed to become a registered lender on the Cubeler platform. Agreement dated December 20, 2018 between the Company and Wenyi Financial Services Co. Ltd. ("Wenyi") pursuant to which Wenyi agreed to effectively transfer its operations, including most of its 20 employees, service agreements and assets, to the Company's ASSC subsidiary. Agreement dated March 30, 2019 between the Company and Xi'an Fenghui Automobile Service Company ("FASC") pursuant to which FASC agreed to use the Company's Gold River product procurement platform to facilitate vehicle purchase and financing transactions. Agreement dated June 1, 2019 between the Company and Jiangsu Zhongpu Financial Outsourcing Service Ltd. ("ZFOS") pursuant to which the Company's ASDS subsidiary agreed to provide financial services to ZFOS clients and other supply-chain participants. Agreement dated June 29, 2019 between the Company and Ronghuitong Supply Chain Management Company Ltd. ("Ronghuitong") whereby the Company's ASSC subsidiary agreed to outsource certain supply- chain financing related services to Ronghuitong. Agreement dated November 7, 2019 between the Company and Jinxiaoer Technology Ltd. pursuant to which the Company agreed to acquire the Jinxiaoer loan brokerage and commission paying platform. Agreement dated March 11, 2020 between the Company and Jiangyin Gaoxinqu SME Development and Investment Ltd. pursuant to which the Company agreed to provide the software platform that will power the city of Jiangyin's new commercial lending financial centre. Agreement dated October 20, 2020 between the Company and Beijing Youxiangtong Group ("BYG"), the parent company of national consumer electronics distributor Beijing Dianjing Company Ltd. ("BDC"), pursuant to which the Company agreed to provide financing to BDC's 60,000 online retail clients for up to 90% of the price of the products the clients purchase from BDC. Agreement dated November 18, 2020 between the Company and Beijing Jingying Corporate Management Ltd. ("BJM") pursuant to which the Company agreed to bring its Cubeler Lending Hub financing solution to BJM and its more than 250,000 retail clients. Agreement dated November 26, 2020 between the Company and Gruppo Coin ("Coin") pursuant to which the Company agreed to provide short-term loans to Coin's social-media-influencer online sales partners. Agreement dated November 1, 2025 between the Company and Chengdu Honglongyi Trading Co., Ltd. ("HTC") pursuant to which the Company agreed to provide supply chain procurement services to HTC through its GoldRiver Supply Chain Service Platform.
Story Continues
The Company is issuing this news release in accordance with OSC Staff Notice 51-711 (Revised) Refilings and Corrections of Errors ("SN 51-711") and will be placed on the public list of Refiling and Errors in accordance with SN 51-711 for a period of three years.
About Tenet Fintech Group Inc.:
Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) and artificial intelligence (AI) companies. All references to Tenet and the Company in this news release, unless explicitly specified, include Tenet and all its subsidiaries. Tenet's subsidiaries offer various analytics and AI-based products and services to businesses, capital markets professionals, government agencies and financial institutions either through or leveraging data gathered by the Cubeler Business Development Platform, a global ecosystem where analytics and AI are used to create opportunities and facilitate B2B transactions among its members. Please visit our website at: https://www.tenetfintech.com/.
For more information, please contact:
Tenet Fintech Group Inc.
Dom Mannella, General Counsel
514-340-7775 ext.: 516
investors@tenetfintech.com
CHF Capital Markets
Cathy Hume, CEO
416-868-1079 ext.: 251
cathy@chfir.com
Follow Tenet Fintech Group Inc. on social media:
X: @Tenet_Fintech
Facebook: @Tenet
LinkedIn: Tenet
YouTube: Tenet Fintech
Forward-looking information
Certain statements in this press release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of Tenet to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to, statements relating to: (i) the potential refiling and/or restatement of certain financial statements and related management's discussion and analysis (MD&A) as a result of potential material misstatements; (ii) the granting of a partial revocation order by the OSC; (iii) the granting of a full revocation order by the OSC; (iv) the completion of the previously announced private placement; and (v) the timing and outcome of the OSC's review of the Company's disclosure record, and general economic and business conditions. Reference should also be made to Management's Discussion and Analysis (MD&A) in Tenet's annual and interim reports, filed with Canadian securities regulators and available via the System for Electronic Document Analysis and Retrieval (SEDAR+) under Tenet's profile at www.sedarplus.ca, for a description of major risk factors relating to Tenet. Although Tenet has attempted to identify certain factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements reflect information as of the date on which they are made. The Company assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event the Company does update any forward-looking statement, no inference should be made that the Company will make additional updates with respect to that statement, related matters, or any other forward-looking statement.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297669
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- Is Tenet Healthcare (THC) Stock Undervalued Right Now?
May 15, 2026
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.
In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.
One company value investors might notice is Tenet Healthcare (THC). THC is currently sporting a Zacks Rank #2 (Buy), as well as an A grade for Value.
We also note that THC holds a PEG ratio of 0.81. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. THC's industry currently sports an average PEG of 1.60. Over the past 52 weeks, THC's PEG has been as high as 1.30 and as low as 0.55, with a median of 0.81.
Finally, investors will want to recognize that THC has a P/CF ratio of 7.51. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. THC's current P/CF looks attractive when compared to its industry's average P/CF of 7.65. Over the past 52 weeks, THC's P/CF has been as high as 7.76 and as low as 2.83, with a median of 4.42.
These figures are just a handful of the metrics value investors tend to look at, but they help show that Tenet Healthcare is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, THC feels like a great value stock at the moment.
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- Is Tenet Healthcare (THC) Stock Undervalued Right Now?
May 15, 2026 · zacks.com
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
- Tenet Healthcare Corporation (THC) Presents at Bank of America Global Healthcare Conference 2026 Transcript
May 13, 2026 · seekingalpha.com
Tenet Healthcare Corporation (THC) Presents at Bank of America Global Healthcare Conference 2026 Transcript
- Encompass Health to Expand Idaho Presence With New 50-Bed Facility
May 12, 2026
Encompass Health Corporation EHC recently unveiled plans to build a new 50-bed inpatient rehabilitation hospital in Post Falls, ID. This freestandingfacility in the Kootenai Countywill offer advanced rehabilitation services for patients recovering from serious medical conditions, including strokes, spinal injuries, amputations, complex orthopedic cases, brain injuries and neurological conditions.
This project marks Encompass Health’s second location in Idaho, aligning with the company’s broader growth strategy in high-demand markets. The facility is likely to open in 2028. It will strengthen the brand’s visibility and reach in a growing but underserved community.
The specific costs of the project have not been disclosed yet. Adding more beds and facilities increases EHC’s service capacity and positions the company to capture a larger share of the inpatient rehabilitation market.
Encompass Health boasts a massive footprint of 175 hospitals in 39 states and Puerto Rico. For 2026, the company plans to open eight new hospitals, adding 389 beds. This year, it also expects to add 150-200 beds to existing hospitals. As of April 30, 2026, it had 18 rehabilitation hospitals under development.
During first-quarter 2026 earnings, the company reaffirmed its plans for the 2023-2027 period, where it aims to inaugurate six to 10 de novos each year, as well as make bed additions in the range of 80-120 each year. It also expects a CAGR of 6-8% in discharges in the same time frame.
Price Performance
Shares of Encompass Health have lost 1.2% in the year-to-date period against the 4.1% growth of the industry.Zacks Investment Research
Image Source: Zacks Investment Research
Zacks Rank and Key Picks
Encompass Health currently has a Zacks Rank #3 (Hold).
Investors can look at some better-ranked stocks in the broader Medical space, like Tenet Healthcare THC, Aveanna Healthcare AVAH and DarioHealth Corp. DRIO, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Tenet Healthcare’s 2026 bottom line suggests 4.7% year-over-year growth. It witnessed six upward estimate revisions over the past 30 days against no movement in the opposite direction. Tenet Healthcare beat earnings estimates in each of the last four quarters, with the average surprise being 20.6%.
The Zacks Consensus Estimate for Aveanna Healthcare’s current-year bottom line is pegged at 62 cents per share, which indicates 3.3% growth from a year ago. During the past 60 days, it witnessed two upward estimate revisions against none in the opposite direction. The consensus mark for Aveanna Healthcare’s current year revenues predicts a 5% year-over-year increase.
Story Continues
The Zacks Consensus Estimate for DarioHealth’s current-year earnings implies 65.9% improvement from the year-ago reported figure. It beat earnings estimates in three of the last four quarters and missed once, with an average surprise of 21%. The consensus mark for DarioHealth’s current-year revenues indicates an 18.7% year-over-year increase.
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- AUNA Q1 Earnings Preview: How Should You Play the Stock Now?
May 11, 2026
Auna S.A. AUNA, the Latin America-based healthcare provider, is set to release first-quarter 2026 results on May 19, after the closing bell.
The Zacks Consensus Estimate for the company’s first-quarter earnings per share (EPS) suggests flat year-over-year growth to 19 cents. The estimate has moved up 1 cent in the past 30 days. The consensus mark for first-quarter revenues currently stands at $318.3 million, suggesting 8.2% growth over the prior-year period.Zacks Investment Research
Image Source: Zacks Investment Research
The company has a solid earnings surprise track record, having topped estimates in each of the trailing four quarters, with an average beat of 146.22%.Zacks Investment Research
Image Source: Zacks Investment Research
Q1 Earnings Whispers for Auna
Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, has a higher chance of beating estimates. This is not the case here, as you can see below.
Earnings ESP: Auna has an Earnings ESP of -2.70%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks Rank #1 stocks here.
Factors Shaping AUNA’s Q1 Performance
The company’s consolidated performance in 2025 reflected challenges in its Mexico operations. We assume soft market conditions may have prevailed in the region throughout the first quarter of 2026, affecting surgery volumes and emergency visits and weighing on revenues. However, Auna highlighted stabilization in Mexico in the previous quarter, which is likely to have positioned the business for sustained top-line and EBITDA growth this year.
Under a new leadership team, the company has been working to expand its reach into the larger segments of privately insured families and strengthen alignment with certain physician groups. Auna is likely to have benefited from rolling out targeted pricing initiatives and pre-negotiated physician rates in the Out-of-Pocket segment. In the Institutional segment, the company was awarded an extension of an improved healthcare plan for ISSSTELEON employees, which may have further strengthened the margin profile of the partnership.
The Oncology business is likely to have delivered another quarter of strong performance with the integration of Opcion Oncologia’s physician practice. The newly launched Oncocenter at the Doctors Hospital, which centralizes oncology services while being integrated with Auna's regional health care network, may have also contributed.
Story Continues
Meanwhile, the Peru business is expected to have led the company’s first-quarter performance. Revenue momentum was likely supported by higher complexity services, while investments in new medical equipment, increased bed capacity and targeted marketing initiatives may have driven stronger volumes. On the health plans side, OncoSalud revenues are likely to have benefited from increased total plan memberships. Meanwhile, oncology MLR may have continued its streak of quarterly decrease from a mix of higher tickets and continued moderation in pharmaceutical costs.
In February 2026, Auna announced the formal execution of an addendum to its existing Public-Private Partnership agreement with EsSalud, facilitating the commencement of the construction phase of the Torre Trecca project in Lima.
The Colombia revenues may have gained from the expansion of risk-sharing models for cardiovascular, ambulatory and oncology services, along with continued growth in chemotherapy and imaging services.
Auna also completed a $825 million debt refinancing in the fourth quarter, which improved its maturity profile and lowered its interest expense. Despite the premiums and costs associated with the refinancing, the company maintained its leverage ratio at 3.6, below its target of 3 net debt-to-EBITDA in the medium term. We expect deleveraging progress to have continued in the first quarter.
AUNA’s Peer Earnings Snapshot
Progyny, Inc. PGNY, sporting a Zacks Rank #1, delivered adjusted EPS of 50 cents in the first quarter of 2026, surpassing the Zacks Consensus Estimate by 14.5%. Revenues of $328.5 million topped the consensus mark by 0.29% and grew 1.4% on a year-over-year basis. Gross profit in the quarter increased 10% from the prior-year period, reflecting ongoing efficiencies realized in the delivery of care management services alongside a decrease in stock-based compensation expense.
Tenet Healthcare THC, carrying a Zacks Rank #3, delivered first-quarter 2026 earnings of $4.21, beating the Zacks Consensus Estimate by 14.39%. However, revenues of $5.37 billion slightly fell short of the consensus mark by 0.36%. Net operating revenues in Tenet’s Ambulatory Care segment increased 10.6%, driven by strong growth in consolidated same-facility net patient service revenues, acquisitions of facilities and increased service lines. Hospital revenues rose 0.6%, supported by an increase in adjusted admissions.
AUNA’s Price Performance & Valuation
Over the past year, Auna shares have dropped 26.8%, underperforming the industry, the broader Medical sector, as well as the S&P 500 Composite. Meanwhile, shares of THC and PGNY have risen 23.2% and 7.8%, respectively, in the same time frame.
AUNA One-Year Price ComparisonZacks Investment Research
Image Source: Zacks Investment Research
In terms of valuation, Auna trades at a forward 12-month Price/Earnings (P/E) of 5.84X, lower than its median and industry average.
AUNA’s 1-year P/EZacks Investment Research
Image Source: Zacks Investment Research
Endnote
Auna’s first-quarter 2026 earnings are expected to continue highlighting the strength of its Peru operations, alongside persistent soft market conditions in Mexico. The risk-mitigation measures put in place in Colombia may have contributed as well. Valuation-wise, the stock is trading at a discount. However, the company’s performance over the last 12 months has trailed its peers, industry and the benchmark. We believe existing AUNA investors may find it prudent to exit their position at this stage, until there is clearer evidence of recovery in Mexico and the company reaches its medium-level leverage target.
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- Tenet Healthcare (THC) Is Up 9.6% After Raising 2026 Earnings Guidance And Completing Buybacks – Has The Bull Case Changed?
May 10, 2026
In late April 2026, Tenet Healthcare reported first-quarter 2026 results showing higher sales of US$5,368 million and increased net income of US$702 million, while also completing a share repurchase program totaling 10.91 million shares for US$1.83 billion under its July 24, 2024 authorization. The company also issued full-year 2026 guidance with projected net operating revenues of US$21.50–US$22.30 billion and diluted EPS of US$29.94–US$32.64, highlighting how margin gains and cost controls are feeding through to its earnings outlook. We’ll now examine how Tenet’s raised 2026 earnings guidance shapes its investment narrative and what it may mean for investors.
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What Is Tenet Healthcare's Investment Narrative?
For someone considering Tenet Healthcare, the core belief is that disciplined cost control and margin management can keep adding value even if revenue growth stays modest. The latest quarter reinforced that story: higher Q1 2026 earnings, expanded margins and a full-year EPS outlook of US$29.94 to US$32.64 suggest the company sees its efficiency gains as durable, at least near term. Completing an US$1.83 billion buyback at a time when the shares already trade below many fair value estimates amplifies earnings per share and underlines management’s confidence, which could be a short term support for the stock. At the same time, Tenet is still carrying a high debt load, and consensus expects earnings to soften over the next few years, so the bullish guidance slightly eases, but does not remove, the key risks.
However, one risk in particular could catch investors off guard if conditions shift. Tenet Healthcare's shares have been on the rise but are still potentially undervalued. Find out how large the opportunity might be.
Exploring Other PerspectivesTHC 1-Year Stock Price Chart
Four Simply Wall St Community fair value views span roughly US$211 million to almost US$491.80 million, underlining how far apart opinions can be. Set this against Tenet’s recent upbeat guidance and heavy use of buybacks, and you can see why it pays to weigh several perspectives on how sensitive the story is to execution and leverage.
Explore 4 other fair value estimates on Tenet Healthcare - why the stock might be worth just $211.29!
Decide For Yourself
Don't just follow the ticker - dig into the data and build a conviction that's truly your own.
A great starting point for your Tenet Healthcare research is our analysis highlighting 4 key rewards and 3 important warning signs that could impact your investment decision. Our free Tenet Healthcare research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Tenet Healthcare's overall financial health at a glance.
Story Continues
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include THC.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Why Tenet Healthcare (THC) is a Top Value Stock for the Long-Term
May 8, 2026 · zacks.com
Wondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores.
- THC Beats Q1 Earnings Estimates on Strong Ambulatory Growth, Ups '26 EPS View
May 6, 2026
Tenet Healthcare Corporation THC reported first-quarter 2026 adjusted earnings per share (EPS) of $4.82, which surpassed the Zacks Consensus Estimate by 14.5%. The bottom line increased 10.6% year over year.
Net operating revenues advanced 2.8% year over year to $5.37 billion. The top line marginally missed the consensus mark by 0.4%.
The quarterly results benefited from strong same-facility revenue growth and higher adjusted admissions, along with solid contributions from acquisitions that supported the Ambulatory Care segment. However, the upside was partly offset by an unfavorable payer mix and higher operating costs, particularly elevated supply expenses.
Tenet Healthcare Corporation Price, Consensus and EPS SurpriseTenet Healthcare Corporation Price, Consensus and EPS Surprise
Tenet Healthcare Corporation price-consensus-eps-surprise-chart | Tenet Healthcare Corporation Quote
Inside THC’s Q1 Performance
Adjusted net income of $422 million climbed 1.9% year over year in the quarter.
Adjusted EBITDA of $1.2 billion surpassed our estimate of $1.1 billion, driven by solid same-facility revenue growth and disciplined expense management. However, the metric dipped 0.1% year over year due to an unfavorable payer mix, reflecting lower exchange admissions. Adjusted EBITDA margin contracted 70 basis points year over year to 21.6%.
Salaries, wages and benefits increased 2.6% year over year to $2.2 billion in the first quarter, while supply costs rose 6% and net other operating expenses increased 2.9%.
Q1 Segmental Details
Ambulatory Care: The segment’s net operating revenues climbed 10.6% year over year to $1.3 billion in the quarter, driven by strong growth in consolidated same-facility net patient service revenues, contributions from facility acquisitions and an expansion of service lines. The metric topped our estimate by 2.3%.
Adjusted EBITDA was $484 million, which advanced 6.1% year over year. The metric missed our estimate by 2.6%. Adjusted EBITDA margin deteriorated 150 bps year over year to 36.7%.
Hospital Operations and Services: The segment recorded net operating revenues of $4.05 billion, which inched up 0.5% year over year driven by higher adjusted admissions, partly offset by an unfavorable payer mix. The metric missed our model estimate by 1.6%.
Adjusted EBITDA decreased 4.1% year over year to $678 million in the quarter, affected by an unfavorable payer mix. Adjusted EBITDA margin of 16.7% was down 80 bps year over year.
THC’s Financial Position (as of March 31, 2026)
Tenet Healthcare exited the first quarter with cash and cash equivalents of $2.97 billion, which improved from the 2025-end level of $2.88 billion. Total assets of $31.2 billion rose from the 2025-end figure of $29.7 billion.
Story Continues
Long-term debt, net of the current portion, amounted to $13.1 billion, which inched up marginally from the figure as of Dec. 31, 2025. The current portion of long-term debt totaled $81 million.
Total shareholders’ equity of $4.8 billion increased from the 2025-end level of $4.2 billion.
THC generated $1.6 billion of net cash from operations in the first quarter of 2026, which advanced 101.3% year over year. Free cash flows improved 127.6% year over year to $1.5 billion in the quarter.
THC’s Share Repurchase Update
THC bought back 1.35 million of common shares worth $318 million in the first quarter.
THC Provides Outlook for 2026
Net operating revenues are projected in the range of $21.5-$22.3 billion, unchanged from prior guidance and up from $21.3 billion in 2025. Hospital segment revenues are expected to be between $16 billion and $16.6 billion, while the Ambulatory Care unit is forecasted to generate $5.5–$5.7 billion.
Adjusted EBITDA is likely to remain between $4.485 billion and $4.785 billion in 2026, compared with the 2025 figure of $4.566 billion. Adjusted EBITDA margin is estimated to be in the 20.9-21.5% band, the mid-point of which indicates a decline from the 2025 level of 21.4%. Adjusted EPS for 2026 is anticipated to be in the band of $16.38-$18.68, up from the previous guidance of $16.19-$18.47.
Net cash provided by operating activities is now expected to be between $3.64 billion and $4.09 billion. Free cash flow is now estimated to remain between $2.94 billion and $3.29 billion. Capital expenditures are projected in the range of $700-$800 million.
Tenet Healthcare currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
How Did Other Medical Companies Perform?
Here are some stocks from the broader Medical space that have also reported their quarterly results: HCA Healthcare, Inc. HCA, UnitedHealth Group Incorporated UNH and The Ensign Group, Inc. ENSG
HCA Healthcare reported first-quarter 2026 adjusted earnings per share of $7.15, slightly below the Zacks Consensus Estimate of $7.17, though up 10.9% year over year. Revenues increased 4.3% to $19.1 billion but narrowly missed the consensus estimate by 0.1%. HCA’s performance was affected by declines in same-facility inpatient and outpatient surgeries, along with elevated operating expenses, partially offset by modest growth in emergency room visits.
UnitedHealth Group reported first-quarter 2026 adjusted earnings per share of $7.23, which surpassed the Zacks Consensus Estimate of $6.46 and increased 0.4% year over year. Revenues rose 2% to $111.7 billion and exceeded the consensus estimate by 2.1%. UNH’s performance was driven by growth in commercial fee-based membership and strength in Optum Rx, partially offset by weakness in Optum Health and a decline in risk-based membership.
Ensign Group reported a first-quarter 2026 adjusted EPS of $1.85, which beat the Zacks Consensus Estimate by 3.4%. The bottom line improved 21.7% year over year. Operating revenues advanced 18.4% year over year to $1.4 billion. The top line marginally missed the consensus mark by 0.07%. ENSG’s strong performance was driven by higher occupancy, patient days and contributions from newly acquired and transitioning facilities, along with growth in rental income. However, these gains were partly offset by increased expenses.
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UnitedHealth Group Incorporated (UNH) : Free Stock Analysis Report
Tenet Healthcare Corporation (THC) : Free Stock Analysis Report
HCA Healthcare, Inc. (HCA) : Free Stock Analysis Report
The Ensign Group, Inc. (ENSG) : Free Stock Analysis Report
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