Public Employees Retirement System of Ohio Trims Position in Tenet Healthcare Corporation (THC)

Public Employees Retirement System of Ohio lowered its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 60.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,465 shares of the company’s stock after selling 28,719 shares during the period. Public Employees Retirement System of Ohio’s holdings in Tenet Healthcare Corporation were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of THC. PNC Financial Services Group Inc. grew its position in Tenet Healthcare Corporation by 52.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock worth $117,000 after acquiring an additional 2,266 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Tenet Healthcare Corporation by 57.4% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock worth $126,000 after buying an additional 2,590 shares during the period. Riverhead Capital Management LLC lifted its holdings in Tenet Healthcare Corporation by 67.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock worth $152,000 after buying an additional 3,161 shares during the period. Flinton Capital Management LLC lifted its holdings in Tenet Healthcare Corporation by 65.7% during the 2nd quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after buying an additional 3,128 shares during the period. Finally, First Mercantile Trust Co. lifted its holdings in Tenet Healthcare Corporation by 11.1% during the 2nd quarter. First Mercantile Trust Co. now owns 11,000 shares of the company’s stock worth $213,000 after buying an additional 1,100 shares during the period.

Tenet Healthcare Corporation (NYSE THC) opened at $13.67 on Wednesday. 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 Corporation has a 52 week low of $12.25 and a 52 week high of $22.72.

Tenet Healthcare Corporation (NYSE:THC) last announced its quarterly earnings data on Monday, November 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.23. Tenet Healthcare Corporation had a negative return on equity of 5.61% and a negative net margin of 2.85%. The company had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $4.94 billion. During the same period in the previous year, the business earned $0.16 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. research analysts anticipate that Tenet Healthcare Corporation will post 0.7 EPS for the current year.

Several brokerages have commented on THC. Zacks Investment Research raised Tenet Healthcare Corporation from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Citigroup Inc. reaffirmed a “neutral” rating and set a $16.00 target price (down from $20.00) on shares of Tenet Healthcare Corporation in a report on Thursday, August 10th. Credit Suisse Group began coverage on Tenet Healthcare Corporation in a report on Thursday, November 2nd. They set a “neutral” rating and a $15.00 target price on the stock. Royal Bank Of Canada cut their target price on Tenet Healthcare Corporation from $19.00 to $17.00 and set a “sector perform” rating on the stock in a report on Monday. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $24.00 target price (down from $28.00) on shares of Tenet Healthcare Corporation in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Tenet Healthcare Corporation currently has a consensus rating of “Hold” and a consensus target price of $19.00.

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Tenet Healthcare Corporation 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.

Institutional Ownership by Quarter for Tenet Healthcare Corporation (NYSE:THC)

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