Tenet Healthcare Corporation (THC) Shares Bought by Phoenix Investment Adviser LLC

Phoenix Investment Adviser LLC lifted its stake in Tenet Healthcare Corporation (NYSE:THC) by 13.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,200 shares of the company’s stock after acquiring an additional 12,500 shares during the period. Tenet Healthcare Corporation makes up 1.4% of Phoenix Investment Adviser LLC’s portfolio, making the stock its 10th largest holding. Phoenix Investment Adviser LLC owned approximately 0.11% of Tenet Healthcare Corporation worth $1,761,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in THC. Teachers Advisors LLC grew its stake in shares of Tenet Healthcare Corporation by 5.0% in the first quarter. Teachers Advisors LLC now owns 136,758 shares of the company’s stock worth $2,422,000 after acquiring an additional 6,553 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Tenet Healthcare Corporation by 52.1% in the first 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. Vanguard Group Inc. grew its stake in shares of Tenet Healthcare Corporation by 2.5% in the first quarter. Vanguard Group Inc. now owns 6,587,359 shares of the company’s stock worth $116,662,000 after acquiring an additional 160,814 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Tenet Healthcare Corporation by 2.7% in the first quarter. Geode Capital Management LLC now owns 619,527 shares of the company’s stock worth $10,971,000 after acquiring an additional 16,372 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Tenet Healthcare Corporation by 1.2% in the first quarter. State Street Corp now owns 2,333,013 shares of the company’s stock worth $41,316,000 after acquiring an additional 27,898 shares during the last quarter.

Several equities research analysts have recently issued reports on the stock. William Blair assumed coverage on shares of Tenet Healthcare Corporation in a research note on Tuesday. They issued a “market perform” rating on the stock. Royal Bank Of Canada lowered their price objective on shares of Tenet Healthcare Corporation from $19.00 to $17.00 and set a “sector perform” rating on the stock in a research note on Monday, November 13th. Mizuho restated a “hold” rating on shares of Tenet Healthcare Corporation in a research note on Friday, November 10th. Morgan Stanley lowered their price objective on shares of Tenet Healthcare Corporation from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 9th. Finally, Zacks Investment Research upgraded shares of Tenet Healthcare Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Tenet Healthcare Corporation currently has a consensus rating of “Hold” and an average target price of $19.00.

Shares of Tenet Healthcare Corporation (NYSE THC) traded up $0.22 during trading hours on Friday, hitting $13.72. 783,059 shares of the stock traded hands, compared to its average volume of 3,639,802. Tenet Healthcare Corporation has a 52 week low of $12.25 and a 52 week high of $22.72. The company has a debt-to-equity ratio of 21.21, a quick ratio of 1.21 and a current ratio of 1.28.

Tenet Healthcare Corporation (NYSE:THC) last issued its earnings results on Monday, November 6th. The company reported ($0.17) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.23. Tenet Healthcare Corporation had a negative net margin of 2.85% and a negative return on equity of 5.61%. The company had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter in the previous year, the company earned $0.16 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. sell-side analysts forecast that Tenet Healthcare Corporation will post 0.7 EPS for the current year.

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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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