The Manufacturers Life Insurance Company lifted its position in shares of Tenet Healthcare Corp (NYSE:THC) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 194,285 shares of the company’s stock after buying an additional 15,940 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.19% of Tenet Healthcare worth $2,945,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pentwater Capital Management LP purchased a new stake in shares of Tenet Healthcare during the third quarter worth about $164,000. Russell Investments Group Ltd. grew its holdings in shares of Tenet Healthcare by 182.6% during the third quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock worth $173,000 after buying an additional 6,800 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Tenet Healthcare during the third quarter worth about $183,000. Sterling Capital Management LLC purchased a new stake in shares of Tenet Healthcare during the third quarter worth about $227,000. Finally, New Mexico Educational Retirement Board purchased a new stake in shares of Tenet Healthcare during the fourth quarter worth about $303,000.
A number of brokerages have recently commented on THC. Zacks Investment Research upgraded shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Tenet Healthcare from $15.00 to $18.00 and gave the stock an “underweight” rating in a report on Monday, March 5th. ValuEngine upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. SunTrust Banks reiterated a “hold” rating on shares of Tenet Healthcare in a report on Thursday, March 1st. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $21.00 target price on shares of Tenet Healthcare in a research report on Thursday, March 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $20.56.
Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Monday, February 26th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.15. The firm had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Tenet Healthcare had a negative net margin of 3.67% and a positive return on equity of 9.69%. Tenet Healthcare’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 earnings per share. analysts anticipate that Tenet Healthcare Corp will post 0.92 EPS for the current fiscal year.
In other Tenet Healthcare news, Director George Fredrick Smitherman sold 1,300 shares of Tenet Healthcare stock in a transaction that occurred on Monday, January 15th. The shares were sold at an average price of $38.50, for a total transaction of $50,050.00. Over the last ninety days, insiders have sold 54,600 shares of company stock worth $94,146. 3.10% of the stock is currently owned by corporate insiders.
Tenet Healthcare 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.
Want to see what other hedge funds are holding THC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenet Healthcare Corp (NYSE:THC).
Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.