Tenet Healthcare Corp (NYSE:THC) was the target of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 24,900,579 shares, a decrease of 15.3% from the January 12th total of 29,410,207 shares. Based on an average daily trading volume, of 2,810,713 shares, the short-interest ratio is currently 8.9 days. Approximately 25.3% of the company’s shares are short sold.
In other news, Director George Fredrick Smitherman purchased 125,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was acquired at an average price of $38.50 per share, with a total value of $4,812,500.00. In the last three months, insiders sold 54,600 shares of company stock valued at $94,146. Corporate insiders own 3.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in THC. King Street Capital Management L.P. acquired a new stake in Tenet Healthcare during the 3rd quarter worth approximately $31,217,000. Davidson Kempner Capital Management LP acquired a new stake in Tenet Healthcare during the 2nd quarter worth approximately $20,133,000. Dimensional Fund Advisors LP lifted its holdings in Tenet Healthcare by 38.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,141,658 shares of the company’s stock worth $41,420,000 after buying an additional 596,526 shares in the last quarter. State Street Corp lifted its holdings in Tenet Healthcare by 25.4% during the 2nd quarter. State Street Corp now owns 2,926,533 shares of the company’s stock worth $56,603,000 after buying an additional 593,520 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Tenet Healthcare by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 6,995,269 shares of the company’s stock worth $135,289,000 after buying an additional 407,910 shares in the last quarter.
Shares of Tenet Healthcare (NYSE:THC) opened at $18.49 on Wednesday. The stock has a market cap of $1,819.89, a P/E ratio of -3.36, a price-to-earnings-growth ratio of 3.40 and a beta of 1.24. Tenet Healthcare has a fifty-two week low of $12.25 and a fifty-two week high of $22.72. The company has a current ratio of 1.28, a quick ratio of 1.21 and a debt-to-equity ratio of 21.21.
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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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