A.R.T. Advisors LLC lifted its stake in Tenet Healthcare Corp (NYSE:THC) by 39.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 72,168 shares of the company’s stock after purchasing an additional 20,300 shares during the quarter. A.R.T. Advisors LLC owned about 0.07% of Tenet Healthcare worth $1,491,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Atria Investments LLC bought a new stake in shares of Tenet Healthcare during the 2nd quarter worth approximately $967,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Tenet Healthcare during the 2nd quarter worth approximately $1,271,000. Bank of New York Mellon Corp lifted its stake in shares of Tenet Healthcare by 17.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,244,022 shares of the company’s stock worth $25,701,000 after acquiring an additional 181,741 shares during the last quarter. Marshall Wace North America L.P. lifted its stake in shares of Tenet Healthcare by 145.0% during the 1st quarter. Marshall Wace North America L.P. now owns 119,786 shares of the company’s stock worth $3,454,000 after acquiring an additional 70,899 shares during the last quarter. Finally, GWM Advisors LLC lifted its stake in shares of Tenet Healthcare by 170.4% during the 1st quarter. GWM Advisors LLC now owns 31,789 shares of the company’s stock worth $51,000 after acquiring an additional 20,034 shares during the last quarter. Hedge funds and other institutional investors own 99.16% of the company’s stock.
In other news, Director Edward A. Kangas sold 45,000 shares of Tenet Healthcare stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $20.28, for a total value of $912,600.00. Following the transaction, the director now directly owns 47,138 shares in the company, valued at approximately $955,958.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Glenview Capital Management, L bought 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were acquired at an average price of $19.36 per share, for a total transaction of $3,872,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 1,325,843 shares of company stock worth $26,843,529 over the last quarter. Company insiders own 1.50% of the company’s stock.
NYSE THC traded up $0.45 on Friday, reaching $22.58. 1,120,030 shares of the stock traded hands, compared to its average volume of 1,489,655. The company has a debt-to-equity ratio of 19.96, a quick ratio of 1.06 and a current ratio of 1.13. The company has a fifty day moving average price of $22.26 and a 200-day moving average price of $22.33. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.58 and a beta of 1.62. Tenet Healthcare Corp has a 12 month low of $16.60 and a 12 month high of $31.64.
Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.12. Tenet Healthcare had a positive return on equity of 28.95% and a negative net margin of 0.09%. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same period last year, the business posted $0.49 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts anticipate that Tenet Healthcare Corp will post 2.4 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on THC. SunTrust Banks set a $24.00 price target on Tenet Healthcare and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Goldman Sachs Group started coverage on Tenet Healthcare in a research note on Wednesday, August 14th. They set a “neutral” rating and a $28.00 price target for the company. Royal Bank of Canada reaffirmed a “hold” rating and set a $26.00 target price on shares of Tenet Healthcare in a research report on Sunday, August 11th. Finally, ValuEngine raised Tenet Healthcare from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $28.62.
Tenet Healthcare Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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