Chicago Equity Partners LLC lowered its position in shares of Tenet Healthcare Corp (NYSE:THC) by 26.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 106,540 shares of the company’s stock after selling 37,475 shares during the period. Chicago Equity Partners LLC owned 0.10% of Tenet Healthcare worth $3,032,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in THC. Advisors Preferred LLC bought a new position in shares of Tenet Healthcare during the second quarter worth about $163,000. NumerixS Investment Technologies Inc bought a new position in shares of Tenet Healthcare during the second quarter worth about $166,000. Assetmark Inc. grew its position in shares of Tenet Healthcare by 45.8% during the second quarter. Assetmark Inc. now owns 5,093 shares of the company’s stock worth $171,000 after acquiring an additional 1,601 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Tenet Healthcare by 286.0% during the first quarter. Cubist Systematic Strategies LLC now owns 7,700 shares of the company’s stock worth $187,000 after acquiring an additional 5,705 shares during the last quarter. Finally, Vident Investment Advisory LLC bought a new position in Tenet Healthcare in the 2nd quarter valued at about $207,000.
Shares of THC opened at $26.29 on Friday. Tenet Healthcare Corp has a 52-week low of $12.45 and a 52-week high of $39.74. The company has a debt-to-equity ratio of 21.55, a current ratio of 1.06 and a quick ratio of 1.01. The stock has a market capitalization of $2.53 billion, a P/E ratio of 32.46, a P/E/G ratio of 1.12 and a beta of 0.87.
Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Monday, November 5th. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.18. Tenet Healthcare had a negative net margin of 0.61% and a positive return on equity of 47.38%. The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter last year, the firm posted ($0.17) EPS. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities research analysts expect that Tenet Healthcare Corp will post 1.66 EPS for the current fiscal year.
A number of equities analysts recently issued reports on THC shares. Zacks Investment Research upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Tuesday, August 14th. ValuEngine lowered shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. SunTrust Banks reiterated a “hold” rating and issued a $35.00 target price on shares of Tenet Healthcare in a research report on Wednesday, August 8th. Barclays started coverage on shares of Tenet Healthcare in a research report on Tuesday, August 14th. They issued an “equal weight” rating and a $35.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Tenet Healthcare from $22.00 to $28.00 and gave the company an “underweight” rating in a research report on Friday, August 10th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $30.56.
Tenet Healthcare Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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