ClariVest Asset Management LLC bought a new position in Tenet Healthcare Corp (NYSE:THC) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 87,100 shares of the company’s stock, valued at approximately $2,512,000.
Several other large investors also recently bought and sold shares of THC. Oregon Public Employees Retirement Fund lifted its position in Tenet Healthcare by 1,653.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 565,569 shares of the company’s stock valued at $33,000 after acquiring an additional 533,313 shares during the period. Enlightenment Research LLC purchased a new position in Tenet Healthcare during the 4th quarter valued at about $36,000. PNC Financial Services Group Inc. lifted its position in Tenet Healthcare by 101.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the company’s stock valued at $38,000 after acquiring an additional 682 shares during the period. Pearl River Capital LLC purchased a new position in Tenet Healthcare during the 4th quarter valued at about $41,000. Finally, Financial Gravity Wealth Inc. purchased a new position in Tenet Healthcare during the 1st quarter valued at about $51,000. 99.25% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on THC. ValuEngine cut shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. SunTrust Banks lowered their price target on shares of Tenet Healthcare to $27.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Barclays set a $24.00 target price on shares of Tenet Healthcare and gave the stock a “hold” rating in a report on Wednesday, April 17th. Bank of America reaffirmed a “neutral” rating and issued a $30.00 target price (up from $21.00) on shares of Tenet Healthcare in a report on Tuesday, February 26th. Finally, TheStreet cut shares of Tenet Healthcare from a “c” rating to a “d+” rating in a report on Monday, May 13th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $30.07.
Shares of Tenet Healthcare stock opened at $21.19 on Friday. The company has a debt-to-equity ratio of 21.98, a current ratio of 1.23 and a quick ratio of 1.15. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 0.39 and a beta of 1.64. Tenet Healthcare Corp has a 52-week low of $16.60 and a 52-week high of $39.74.
Tenet Healthcare (NYSE:THC) last issued its earnings results on Monday, April 29th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.25. Tenet Healthcare had a negative net margin of 0.04% and a positive return on equity of 29.29%. The business had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.51 billion. During the same period in the previous year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, research analysts predict that Tenet Healthcare Corp will post 2.32 EPS for the current year.
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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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