Schwab Charles Investment Management Inc. lifted its position in shares of Tenet Healthcare Corp (NYSE:THC) by 18.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 796,296 shares of the company’s stock after purchasing an additional 125,117 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Tenet Healthcare were worth $26,732,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Preferred LLC acquired a new stake in shares of Tenet Healthcare during the second quarter worth about $163,000. 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 worth $171,000 after purchasing 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 worth $187,000 after purchasing an additional 5,705 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Tenet Healthcare during the first quarter worth about $208,000. Finally, LMR Partners LLP acquired a new stake in shares of Tenet Healthcare during the second quarter worth about $234,000.
THC has been the topic of a number of research analyst reports. Mizuho reiterated a “buy” rating and set a $35.00 target price on shares of Tenet Healthcare in a research report on Wednesday, May 9th. Zacks Investment Research cut Tenet Healthcare from a “buy” rating to a “hold” rating in a research report on Friday, May 25th. ValuEngine cut Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 27th. Jefferies Financial Group cut Tenet Healthcare from a “buy” rating to a “hold” rating and boosted their price target for the company from $28.00 to $38.00 in a research report on Friday, June 29th. Finally, Citigroup boosted their price target on Tenet Healthcare from $37.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Tenet Healthcare currently has a consensus rating of “Hold” and a consensus price target of $30.63.
Shares of THC stock opened at $31.71 on Thursday. Tenet Healthcare Corp has a 52-week low of $12.25 and a 52-week high of $39.74. The stock has a market capitalization of $3.45 billion, a P/E ratio of 40.32, a P/E/G ratio of 1.52 and a beta of 0.92. 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 announced its quarterly earnings data on Monday, August 6th. The company reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.24. Tenet Healthcare had a positive return on equity of 38.91% and a negative net margin of 2.51%. The company had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the company earned ($0.17) EPS. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. equities research analysts forecast that Tenet Healthcare Corp will post 1.7 EPS for the current fiscal year.
Tenet Healthcare Company Profile
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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