Russell Investments Group Ltd. raised its holdings in Tenet Healthcare Corp (NYSE:THC) by 182.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,525 shares of the company’s stock after buying an additional 6,800 shares during the quarter. Russell Investments Group Ltd.’s holdings in Tenet Healthcare were worth $173,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Private Management Group Inc. grew its holdings in Tenet Healthcare by 11.7% in the 3rd quarter. Private Management Group Inc. now owns 909,122 shares of the company’s stock valued at $14,937,000 after buying an additional 95,204 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Tenet Healthcare by 3.7% in the 3rd quarter. Rhumbline Advisers now owns 145,741 shares of the company’s stock worth $2,395,000 after acquiring an additional 5,163 shares during the period. Sei Investments Co. lifted its position in shares of Tenet Healthcare by 14.7% in the 3rd quarter. Sei Investments Co. now owns 465,072 shares of the company’s stock worth $7,641,000 after acquiring an additional 59,733 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of Tenet Healthcare by 62.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 108,650 shares of the company’s stock worth $1,785,000 after acquiring an additional 41,960 shares during the period. Finally, Adams Diversified Equity Fund Inc. bought a new stake in shares of Tenet Healthcare in the 3rd quarter worth approximately $800,000.
A number of analysts have commented on the company. Goldman Sachs Group assumed coverage on Tenet Healthcare in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $15.00 price objective for the company. ValuEngine downgraded Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Leerink Swann reiterated a “buy” rating and issued a $27.00 price objective on shares of Tenet Healthcare in a research report on Wednesday, December 20th. Morgan Stanley downgraded Tenet Healthcare from an “equal weight” rating to an “underweight” rating and set a $14.00 price objective for the company. in a research report on Wednesday, December 20th. Finally, Mizuho raised their price objective on Tenet Healthcare from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 19th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $18.87.
Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Monday, November 6th. The company reported ($0.17) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.23. Tenet Healthcare had a negative return on equity of 5.61% and a negative net margin of 2.85%. The firm had revenue of $4.59 billion during the quarter, compared to analysts’ expectations of $4.94 billion. During the same period last year, the firm posted $0.16 EPS. The business’s revenue was down 5.4% on a year-over-year basis. equities analysts anticipate that Tenet Healthcare Corp will post 0.69 earnings per share for the current fiscal year.
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Tenet Healthcare Company Profile
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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