Partner Investment Management L.P. reduced its position in Tenet Healthcare Corp (NYSE:THC) by 24.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,405 shares of the company’s stock after selling 15,019 shares during the period. Partner Investment Management L.P.’s holdings in Tenet Healthcare were worth $1,349,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in THC. Advisors Preferred LLC acquired a new stake in Tenet Healthcare during the 2nd quarter valued at $163,000. NumerixS Investment Technologies Inc acquired a new stake in Tenet Healthcare during the 2nd quarter valued at $166,000. Assetmark Inc. grew its holdings in Tenet Healthcare by 45.8% during the 2nd quarter. Assetmark Inc. now owns 5,093 shares of the company’s stock valued at $171,000 after buying an additional 1,601 shares during the last quarter. Vident Investment Advisory LLC acquired a new stake in Tenet Healthcare during the 2nd quarter valued at $207,000. Finally, LMR Partners LLP acquired a new stake in Tenet Healthcare during the 2nd quarter valued at $234,000.
Shares of Tenet Healthcare stock opened at $24.81 on Wednesday. Tenet Healthcare Corp has a twelve month low of $12.45 and a twelve month high of $39.74. The firm has a market capitalization of $2.67 billion, a P/E ratio of 30.63, a PEG ratio of 1.34 and a beta of 0.92. The company has a debt-to-equity ratio of 21.55, a quick ratio of 0.99 and a current ratio of 1.06.
Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Monday, November 5th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.11 by $0.18. Tenet Healthcare had a positive return on equity of 47.38% and a negative net margin of 0.61%. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same period last year, the company posted ($0.17) earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Tenet Healthcare Corp will post 1.61 EPS for the current year.
A number of brokerages have commented on THC. ValuEngine upgraded Tenet Healthcare from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th. Raymond James reiterated a “buy” rating and set a $37.00 target price on shares of Tenet Healthcare in a report on Monday. Piper Jaffray Companies reiterated a “hold” rating and set a $34.00 target price on shares of Tenet Healthcare in a report on Wednesday, August 8th. Zacks Investment Research cut Tenet Healthcare from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Finally, Mizuho set a $36.00 price objective on Tenet Healthcare and gave the stock a “buy” rating in a report on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $31.56.
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Tenet Healthcare Company 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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