Principal Financial Group Inc. lessened its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 335,457 shares of the company’s stock after selling 7,510 shares during the quarter. Principal Financial Group Inc. owned approximately 0.33% of Tenet Healthcare worth $5,512,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in THC. Riverhead Capital Management LLC grew its position in Tenet Healthcare by 67.3% during the second quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock valued at $152,000 after buying an additional 3,161 shares during the period. Flinton Capital Management LLC grew its position in shares of Tenet Healthcare by 65.7% in the second quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock valued at $153,000 after purchasing an additional 3,128 shares during the period. First Mercantile Trust Co. grew its position in shares of Tenet Healthcare by 11.1% in the second quarter. First Mercantile Trust Co. now owns 11,000 shares of the company’s stock valued at $213,000 after purchasing an additional 1,100 shares during the period. Wedbush Securities Inc. acquired a new stake in shares of Tenet Healthcare in the second quarter valued at about $222,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Tenet Healthcare by 0.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,737 shares of the company’s stock valued at $227,000 after purchasing an additional 73 shares during the period.
Several brokerages have recently issued reports on THC. William Blair reiterated a “market perform” rating on shares of Tenet Healthcare in a research report on Tuesday, November 21st. Royal Bank Of Canada dropped their target price on shares of Tenet Healthcare from $19.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Monday, November 13th. Mizuho reiterated a “hold” rating on shares of Tenet Healthcare in a research report on Friday, November 10th. Morgan Stanley dropped their target price on shares of Tenet Healthcare from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 9th. Finally, Zacks Investment Research upgraded shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.00.
Tenet Healthcare Corporation (THC) traded up $0.10 on Friday, reaching $13.33. 3,204,815 shares of the company were exchanged, compared to its average volume of 2,944,509. Tenet Healthcare Corporation has a 52-week low of $12.25 and a 52-week high of $22.72. The company has a current ratio of 1.28, a quick ratio of 1.21 and a debt-to-equity ratio of 21.21.
Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Monday, November 6th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.23. The firm had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.94 billion. Tenet Healthcare had a negative net margin of 2.85% and a negative return on equity of 5.61%. Tenet Healthcare’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 earnings per share. equities analysts predict that Tenet Healthcare Corporation will post 0.69 EPS for the current year.
Tenet Healthcare 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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