HealthCor Management L.P. decreased its holdings in shares of Tenet Healthcare Corp (NYSE:THC) by 34.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,956,351 shares of the company’s stock after selling 1,575,581 shares during the quarter. Tenet Healthcare comprises about 1.5% of HealthCor Management L.P.’s portfolio, making the stock its 27th biggest holding. HealthCor Management L.P.’s holdings in Tenet Healthcare were worth $44,818,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Boston Private Wealth LLC increased its holdings in shares of Tenet Healthcare by 13.9% during the third quarter. Boston Private Wealth LLC now owns 77,505 shares of the company’s stock worth $1,273,000 after buying an additional 9,435 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Tenet Healthcare during the third quarter worth approximately $4,640,000. King Street Capital Management L.P. acquired a new stake in shares of Tenet Healthcare during the third quarter worth approximately $31,217,000. Scoggin Management LP acquired a new stake in shares of Tenet Healthcare during the third quarter worth approximately $657,000. Finally, Legal & General Group Plc increased its holdings in shares of Tenet Healthcare by 15.9% during the third quarter. Legal & General Group Plc now owns 336,284 shares of the company’s stock worth $5,521,000 after buying an additional 46,257 shares in the last quarter.
A number of analysts recently weighed in on the stock. ValuEngine raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. JPMorgan Chase & Co. raised their price target on shares of Tenet Healthcare from $15.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, March 5th. Citigroup raised their price target on shares of Tenet Healthcare from $19.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, March 1st. Wells Fargo & Co raised their price target on shares of Tenet Healthcare from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $21.00 price target on shares of Tenet Healthcare in a report on Thursday, March 1st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $20.56.
Shares of Tenet Healthcare Corp (NYSE:THC) opened at $24.18 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.22 and a debt-to-equity ratio of 27.44. Tenet Healthcare Corp has a fifty-two week low of $12.25 and a fifty-two week high of $24.26. The company has a market cap of $2,444.79, a price-to-earnings ratio of 30.61, a price-to-earnings-growth ratio of 2.08 and a beta of 1.07.
Tenet Healthcare (NYSE:THC) last released its earnings results on Monday, February 26th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.15. Tenet Healthcare had a negative net margin of 3.67% and a positive return on equity of 9.69%. The firm had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the business earned $0.06 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. equities analysts forecast that Tenet Healthcare Corp will post 0.92 earnings per share for the current fiscal year.
About Tenet Healthcare
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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