Trexquant Investment LP decreased its position in Tenet Healthcare (NYSE:THC) by 13.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 23,453 shares of the company’s stock after selling 3,766 shares during the quarter. Trexquant Investment LP’s holdings in Tenet Healthcare were worth $569,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of THC. Schwab Charles Investment Management Inc. grew its holdings in shares of Tenet Healthcare by 3.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 551,255 shares of the company’s stock worth $8,358,000 after purchasing an additional 16,676 shares during the last quarter. CIBC World Markets Inc. grew its holdings in shares of Tenet Healthcare by 80.7% in the 4th quarter. CIBC World Markets Inc. now owns 34,006 shares of the company’s stock worth $516,000 after purchasing an additional 15,190 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Tenet Healthcare in the 4th quarter worth about $527,000. California Public Employees Retirement System grew its holdings in shares of Tenet Healthcare by 6.3% in the 4th quarter. California Public Employees Retirement System now owns 965,955 shares of the company’s stock worth $14,644,000 after purchasing an additional 56,838 shares during the last quarter. Finally, New Mexico Educational Retirement Board bought a new stake in shares of Tenet Healthcare in the 4th quarter worth about $303,000.
A number of equities research analysts have commented on the stock. Citigroup increased their price objective on shares of Tenet Healthcare from $27.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, May 8th. Credit Suisse Group increased their price objective on shares of Tenet Healthcare from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, May 4th. Mizuho reissued a “buy” rating and set a $35.00 price objective on shares of Tenet Healthcare in a report on Wednesday, May 9th. Morgan Stanley increased their price objective on shares of Tenet Healthcare from $16.00 to $24.00 and gave the stock an “underweight” rating in a report on Wednesday, May 2nd. Finally, ValuEngine raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $25.63.
Shares of NYSE THC opened at $33.33 on Friday. The stock has a market capitalization of $3.44 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 1.68 and a beta of 0.81. The company has a debt-to-equity ratio of 23.09, a quick ratio of 1.17 and a current ratio of 1.24. Tenet Healthcare has a 1 year low of $12.25 and a 1 year high of $34.16.
Tenet Healthcare (NYSE:THC) last issued its earnings results on Monday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.61. The company had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.56 billion. Tenet Healthcare had a negative net margin of 2.90% and a positive return on equity of 23.13%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.27) EPS. analysts expect that Tenet Healthcare will post 1.54 EPS for the current year.
In other news, Director Ashish Dave sold 75,000 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $1.40, for a total value of $105,000.00. 1.20% of the stock is currently owned by company insiders.
Tenet Healthcare 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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