Tenet Healthcare Corporation (THC) Shares Bought by Private Management Group Inc.

Private Management Group Inc. lifted its holdings in Tenet Healthcare Corporation (NYSE:THC) by 11.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 909,122 shares of the company’s stock after purchasing an additional 95,204 shares during the quarter. Private Management Group Inc. owned 0.90% of Tenet Healthcare Corporation worth $14,937,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its position in shares of Tenet Healthcare Corporation by 34.6% in the second quarter. BNP Paribas Arbitrage SA now owns 66,690 shares of the company’s stock worth $1,290,000 after purchasing an additional 17,151 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Tenet Healthcare Corporation by 25.0% in the second quarter. Franklin Resources Inc. now owns 5,000,000 shares of the company’s stock worth $96,700,000 after purchasing an additional 1,000,000 shares in the last quarter. Proxima Capital Management LLC lifted its position in shares of Tenet Healthcare Corporation by 8.3% in the second quarter. Proxima Capital Management LLC now owns 103,939 shares of the company’s stock worth $2,010,000 after purchasing an additional 8,000 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Tenet Healthcare Corporation by 5.6% in the second quarter. Legal & General Group Plc now owns 290,027 shares of the company’s stock worth $5,610,000 after purchasing an additional 15,389 shares in the last quarter. Finally, Zweig DiMenna Associates LLC bought a new stake in shares of Tenet Healthcare Corporation in the second quarter worth $8,831,000.

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Shares of Tenet Healthcare Corporation (THC) traded down $0.14 on Wednesday, hitting $13.67. 3,843,300 shares of the stock traded hands, compared to its average volume of 3,671,564. 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 quarterly earnings data on Monday, November 6th. The company reported ($0.17) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.23. The company had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.94 billion. Tenet Healthcare Corporation had a negative net margin of 2.85% and a negative return on equity of 5.61%. The company’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 earnings per share. equities research analysts anticipate that Tenet Healthcare Corporation will post 0.7 EPS for the current fiscal year.

THC has been the topic of a number of research reports. Royal Bank Of Canada reissued a “hold” rating and issued a $25.00 price objective on shares of Tenet Healthcare Corporation in a research report on Tuesday, July 18th. BidaskClub lowered shares of Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Jefferies Group LLC reissued a “buy” rating and issued a $24.00 price objective (down previously from $26.00) on shares of Tenet Healthcare Corporation in a research report on Tuesday, August 8th. Credit Suisse Group cut their price objective on shares of Tenet Healthcare Corporation from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $23.00 price objective on shares of Tenet Healthcare Corporation in a research report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $19.00.

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)

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