Tenet Healthcare Corp (THC) Shares Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. grew its holdings in shares of Tenet Healthcare Corp (NYSE:THC) by 13.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,633 shares of the company’s stock after buying an additional 2,737 shares during the quarter. Meeder Asset Management Inc.’s holdings in Tenet Healthcare were worth $672,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in THC. UBS Group AG increased its stake in shares of Tenet Healthcare by 13.4% during the first quarter. UBS Group AG now owns 88,181 shares of the company’s stock valued at $2,138,000 after purchasing an additional 10,426 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Tenet Healthcare by 286.0% during the first quarter. Cubist Systematic Strategies LLC now owns 7,700 shares of the company’s stock valued at $187,000 after purchasing an additional 5,705 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Tenet Healthcare by 5.6% during the first quarter. Principal Financial Group Inc. now owns 368,795 shares of the company’s stock valued at $8,943,000 after purchasing an additional 19,705 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Tenet Healthcare by 2.7% during the first quarter. Allianz Asset Management GmbH now owns 150,325 shares of the company’s stock valued at $3,645,000 after purchasing an additional 3,950 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Tenet Healthcare during the second quarter valued at approximately $450,000.

A number of brokerages have weighed in on THC. ValuEngine raised shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Barclays reaffirmed a “hold” rating and set a $27.00 target price on shares of Tenet Healthcare in a research note on Wednesday. Piper Jaffray Companies reaffirmed a “hold” rating and set a $34.00 target price on shares of Tenet Healthcare in a research note on Wednesday, August 8th. Zacks Investment Research raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Wednesday, August 8th. Finally, Mizuho set a $36.00 target price on shares of Tenet Healthcare and gave the company a “buy” rating in a research note on Tuesday, August 7th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.56.

Shares of THC opened at $26.29 on Friday. The company has a market cap of $2.53 billion, a P/E ratio of 32.46, a PEG ratio of 1.12 and a beta of 0.87. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 21.55. Tenet Healthcare Corp has a twelve month low of $12.45 and a twelve month high of $39.74.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Monday, November 5th. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.18. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.37 billion. Tenet Healthcare had a negative net margin of 0.61% and a positive return on equity of 47.38%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.17) earnings per share. On average, sell-side analysts anticipate that Tenet Healthcare Corp will post 1.66 EPS for the current fiscal year.

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

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