SG Americas Securities LLC decreased its holdings in shares of Tenet Healthcare Corp (NYSE:THC) by 17.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,710 shares of the company’s stock after selling 7,218 shares during the period. SG Americas Securities LLC’s holdings in Tenet Healthcare were worth $1,165,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. increased its position in shares of Tenet Healthcare by 45.8% during the second quarter. Assetmark Inc. now owns 5,093 shares of the company’s stock valued at $171,000 after acquiring an additional 1,601 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Tenet Healthcare by 286.0% during the first quarter. Cubist Systematic Strategies LLC now owns 7,700 shares of the company’s stock valued at $187,000 after acquiring an additional 5,705 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of Tenet Healthcare during the first quarter valued at approximately $208,000. LMR Partners LLP purchased a new stake in Tenet Healthcare in the second quarter worth approximately $234,000. Finally, Teza Capital Management LLC purchased a new stake in Tenet Healthcare in the first quarter worth approximately $237,000.
THC has been the topic of several research reports. Jefferies Financial Group cut shares of Tenet Healthcare from a “buy” rating to a “hold” rating and raised their target price for the stock from $28.00 to $38.00 in a report on Friday, June 29th. JPMorgan Chase & Co. raised their target price on shares of Tenet Healthcare from $22.00 to $28.00 and gave the stock an “underweight” rating in a report on Friday, August 10th. ValuEngine cut shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 27th. Mizuho restated a “buy” rating and issued a $35.00 target price on shares of Tenet Healthcare in a report on Wednesday, May 9th. Finally, SunTrust Banks restated a “hold” rating and issued a $35.00 target price on shares of Tenet Healthcare in a report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $30.63.
Shares of Tenet Healthcare stock opened at $32.83 on Wednesday. The firm has a market cap of $3.45 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92. Tenet Healthcare Corp has a 1-year low of $12.25 and a 1-year high of $39.74. The company has a debt-to-equity ratio of 24.66, a quick ratio of 1.01 and a current ratio of 1.08.
Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Monday, August 6th. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.24. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Tenet Healthcare had a negative net margin of 2.51% and a positive return on equity of 38.91%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) EPS. equities analysts expect that Tenet Healthcare Corp will post 1.7 EPS for the current fiscal year.
About Tenet Healthcare
Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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