Chicago Equity Partners LLC cut its position in shares of Tenet Healthcare Corp (NYSE:THC) by 26.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 106,540 shares of the company’s stock after selling 37,475 shares during the quarter. Chicago Equity Partners LLC’s holdings in Tenet Healthcare were worth $3,032,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Advisors Preferred LLC purchased a new stake in Tenet Healthcare during the second quarter valued at about $163,000. NumerixS Investment Technologies Inc purchased a new stake in Tenet Healthcare during the second quarter valued at about $166,000. Assetmark Inc. lifted its stake in 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 buying an additional 1,601 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in 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 buying an additional 5,705 shares in the last quarter. Finally, Vident Investment Advisory LLC purchased a new stake in Tenet Healthcare during the second quarter valued at about $207,000.
NYSE THC opened at $26.29 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 21.55. The company has a market capitalization of $2.53 billion, a PE ratio of 32.46, a P/E/G ratio of 1.12 and a beta of 0.87. Tenet Healthcare Corp has a 52-week low of $12.45 and a 52-week high of $39.74.
Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Monday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.18. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.37 billion. Tenet Healthcare had a negative net margin of 0.61% and a positive return on equity of 47.38%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.17) earnings per share. Sell-side analysts predict that Tenet Healthcare Corp will post 1.66 EPS for the current fiscal year.
A number of analysts have commented on THC shares. Zacks Investment Research raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Tuesday, August 14th. ValuEngine lowered shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. SunTrust Banks reaffirmed a “hold” rating and set a $35.00 price objective on shares of Tenet Healthcare in a research note on Wednesday, August 8th. Barclays started coverage on shares of Tenet Healthcare in a research note on Tuesday, August 14th. They set an “equal weight” rating and a $35.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Tenet Healthcare from $22.00 to $28.00 and gave the company an “underweight” rating in a research note on Friday, August 10th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Tenet Healthcare has an average rating of “Hold” and an average target price of $30.56.
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.
Further Reading: Institutional Investors
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