State Street Corp reduced its stake in shares of Tenet Healthcare Corp (NYSE:THC) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,305,115 shares of the company’s stock after selling 5,710 shares during the period. State Street Corp owned about 2.31% of Tenet Healthcare Corp worth $34,206,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in THC. Creative Planning boosted its stake in Tenet Healthcare Corp by 618.0% in the third quarter. Creative Planning now owns 6,354 shares of the company’s stock valued at $144,000 after buying an additional 5,469 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in Tenet Healthcare Corp by 50.2% in the third quarter. Acrospire Investment Management LLC now owns 10,475 shares of the company’s stock valued at $237,000 after buying an additional 3,500 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Tenet Healthcare Corp during the third quarter valued at $374,000. Dynamic Capital Management Ltd acquired a new stake in Tenet Healthcare Corp during the third quarter valued at $375,000. Finally, Ontario Teachers Pension Plan Board acquired a new stake in Tenet Healthcare Corp during the third quarter valued at $405,000.
Tenet Healthcare Corp (NYSE:THC) traded up 2.27% during trading on Friday, hitting $15.33. 4,973,005 shares of the stock were exchanged. Tenet Healthcare Corp has a 52 week low of $14.06 and a 52 week high of $34.08. The stock has a 50 day moving average of $17.86 and a 200-day moving average of $18.11. The stock’s market cap is $1.53 billion.
Tenet Healthcare Corp (NYSE:THC) last announced its quarterly earnings data on Monday, February 27th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.22 by $0.16. Tenet Healthcare Corp had a negative net margin of 1.04% and a positive return on equity of 12.75%. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.95 billion. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The business’s revenue was down 3.3% on a year-over-year basis. Equities analysts expect that Tenet Healthcare Corp will post $1.17 EPS for the current fiscal year.
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Several research analysts have recently issued reports on THC shares. Deutsche Bank AG started coverage on shares of Tenet Healthcare Corp in a report on Tuesday, April 4th. They set a “buy” rating and a $28.00 price target for the company. Zacks Investment Research downgraded shares of Tenet Healthcare Corp from a “hold” rating to a “strong sell” rating in a report on Thursday, March 9th. Mizuho lowered their price target on shares of Tenet Healthcare Corp from $22.50 to $18.00 and set a “neutral” rating for the company in a report on Monday, March 27th. Leerink Swann reiterated a “market perform” rating and set a $22.00 price target on shares of Tenet Healthcare Corp in a report on Tuesday, January 24th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $28.00 price target on shares of Tenet Healthcare Corp in a report on Thursday, April 13th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $26.92.
About Tenet Healthcare Corp
Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.
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