Tenet Healthcare Corp. (THC) Shares Sold by Deltec Asset Management LLC
Deltec Asset Management LLC lowered its position in Tenet Healthcare Corp. (NYSE:THC) by 52.4% during the second quarter, Holdings Channel reports. The firm owned 235,308 shares of the company’s stock after selling 258,560 shares during the period. Tenet Healthcare Corp. makes up approximately 1.6% of Deltec Asset Management LLC’s portfolio, making the stock its 15th largest position. Deltec Asset Management LLC owned 0.24% of Tenet Healthcare Corp. worth $6,504,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in Tenet Healthcare Corp. by 0.5% in the first quarter. State Street Corp now owns 3,613,092 shares of the company’s stock worth $104,526,000 after buying an additional 16,880 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Tenet Healthcare Corp. by 12.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,248,632 shares of the company’s stock worth $93,983,000 after buying an additional 366,029 shares during the period. BlackRock Group LTD raised its stake in Tenet Healthcare Corp. by 17.5% in the first quarter. BlackRock Group LTD now owns 1,348,230 shares of the company’s stock worth $39,004,000 after buying an additional 201,254 shares during the period. Bridger Management LLC acquired a new stake in Tenet Healthcare Corp. during the first quarter worth approximately $25,113,000. Finally, Old Mutual Global Investors UK Ltd. raised its stake in Tenet Healthcare Corp. by 164.2% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 824,233 shares of the company’s stock worth $22,781,000 after buying an additional 512,212 shares during the period.
Shares of Tenet Healthcare Corp. (NYSE:THC) traded down 4.43% during mid-day trading on Tuesday, reaching $22.02. The company had a trading volume of 3,851,826 shares. Tenet Healthcare Corp. has a one year low of $21.39 and a one year high of $45.12. The stock has a 50 day moving average of $24.88 and a 200-day moving average of $28.13. The firm’s market capitalization is $2.19 billion.
Tenet Healthcare Corp. (NYSE:THC) last posted its earnings results on Monday, August 1st. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.14. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.82 billion. Tenet Healthcare Corp. had a positive return on equity of 14.47% and a negative net margin of 1.15%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. Equities analysts predict that Tenet Healthcare Corp. will post $1.55 EPS for the current year.
THC has been the topic of a number of research analyst reports. Morgan Stanley restated a “hold” rating and set a $38.00 price target on shares of Tenet Healthcare Corp. in a research report on Tuesday, August 2nd. Jefferies Group restated a “buy” rating on shares of Tenet Healthcare Corp. in a research report on Monday, July 11th. Zacks Investment Research lowered Tenet Healthcare Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. Mizuho restated a “neutral” rating and set a $28.00 price target (down from $33.00) on shares of Tenet Healthcare Corp. in a research report on Tuesday, August 2nd. Finally, Barclays PLC restated a “buy” rating and set a $39.00 price target on shares of Tenet Healthcare Corp. in a research report on Friday, August 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. Tenet Healthcare Corp. currently has a consensus rating of “Hold” and a consensus target price of $33.72.
About Tenet Healthcare Corp.
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 operates through three segments: Hospital Operations and other, Ambulatory Care and Conifer.
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