Tenet Healthcare Corporation (THC) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. lessened its position in Tenet Healthcare Corporation (NYSE:THC) by 6.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,675 shares of the company’s stock after selling 825 shares during the quarter. Moors & Cabot Inc.’s holdings in Tenet Healthcare Corporation were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harris Associates L P lifted its stake in shares of Tenet Healthcare Corporation by 1.4% in the 2nd quarter. Harris Associates L P now owns 7,733,435 shares of the company’s stock valued at $149,565,000 after purchasing an additional 108,070 shares during the period. Vanguard Group Inc. lifted its stake in shares of Tenet Healthcare Corporation by 6.2% in the 2nd quarter. Vanguard Group Inc. now owns 6,995,269 shares of the company’s stock valued at $135,289,000 after purchasing an additional 407,910 shares during the period. Franklin Resources Inc. lifted its stake in shares of Tenet Healthcare Corporation by 25.0% in the 2nd quarter. Franklin Resources Inc. now owns 5,000,000 shares of the company’s stock valued at $96,700,000 after purchasing an additional 1,000,000 shares during the period. FMR LLC lifted its stake in shares of Tenet Healthcare Corporation by 36.9% in the 2nd quarter. FMR LLC now owns 3,724,713 shares of the company’s stock valued at $72,036,000 after purchasing an additional 1,004,700 shares during the period. Finally, State Street Corp lifted its stake in shares of Tenet Healthcare Corporation by 25.4% in the 2nd quarter. State Street Corp now owns 2,926,533 shares of the company’s stock valued at $56,603,000 after purchasing an additional 593,520 shares during the period.

A number of research analysts have recently commented on THC shares. Deutsche Bank AG restated a “buy” rating and issued a $24.00 target price on shares of Tenet Healthcare Corporation in a research note on Friday, September 1st. Zacks Investment Research upgraded Tenet Healthcare Corporation from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research note on Monday, July 10th. Royal Bank Of Canada restated a “hold” rating and issued a $25.00 target price on shares of Tenet Healthcare Corporation in a research note on Tuesday, July 18th. Robert W. Baird restated a “buy” rating and issued a $23.00 target price on shares of Tenet Healthcare Corporation in a research note on Thursday, August 24th. Finally, Leerink Swann restated an “outperform” rating and issued a $30.00 target price (up previously from $23.00) on shares of Tenet Healthcare Corporation in a research note on Sunday, August 20th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $21.00.

Tenet Healthcare Corporation (NYSE THC) traded down 6.64% during mid-day trading on Friday, hitting $12.94. The company’s stock had a trading volume of 1,265,056 shares. Tenet Healthcare Corporation has a 12-month low of $12.25 and a 12-month high of $24.13. The company’s market cap is $1.30 billion. The firm’s 50-day moving average is $16.27 and its 200-day moving average is $17.11.

Tenet Healthcare Corporation (NYSE:THC) last posted its earnings results on Monday, August 7th. The company reported ($0.17) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.17). The company had revenue of $14.80 billion during the quarter, compared to analyst estimates of $4.90 billion. Tenet Healthcare Corporation had a negative return on equity of 2.00% and a negative net margin of 0.97%. Tenet Healthcare Corporation’s revenue was up 204.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. Analysts predict that Tenet Healthcare Corporation will post $0.78 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This story was originally reported by Markets Daily and is the property of of Markets Daily. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this story can be accessed at https://www.themarketsdaily.com/2017/10/13/tenet-healthcare-corporation-thc-shares-sold-by-moors-cabot-inc.html.

Tenet Healthcare Corporation 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)

Receive News & Ratings for Tenet Healthcare Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply