125,000 Shares in Tenet Healthcare Corporation (THC) Purchased by Apollo Management Holdings L.P.
Apollo Management Holdings L.P. acquired a new stake in shares of Tenet Healthcare Corporation (NYSE:THC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 125,000 shares of the company’s stock, valued at approximately $2,418,000. Apollo Management Holdings L.P. owned about 0.12% of Tenet Healthcare Corporation at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Tenet Healthcare Corporation by 36.9% during the second quarter. FMR LLC now owns 3,724,713 shares of the company’s stock valued at $72,036,000 after purchasing an additional 1,004,700 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Tenet Healthcare Corporation by 6.2% in the second quarter. Vanguard Group Inc. now owns 6,995,269 shares of the company’s stock worth $135,289,000 after buying an additional 407,910 shares during the last quarter. Menta Capital LLC acquired a new stake in shares of Tenet Healthcare Corporation in the second quarter worth about $300,000. Mutual of America Capital Management LLC lifted its position in shares of Tenet Healthcare Corporation by 1.2% in the second quarter. Mutual of America Capital Management LLC now owns 67,502 shares of the company’s stock worth $1,305,000 after buying an additional 779 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of Tenet Healthcare Corporation in the second quarter worth about $293,000.
Shares of Tenet Healthcare Corporation (NYSE:THC) traded up 0.6692% during trading on Thursday, reaching $15.6742. The company had a trading volume of 543,771 shares. The firm has a 50 day moving average price of $15.97 and a 200 day moving average price of $17.44. Tenet Healthcare Corporation has a 12 month low of $12.54 and a 12 month high of $24.13. The company’s market cap is $1.58 billion.
Tenet Healthcare Corporation (NYSE:THC) last issued its quarterly earnings data on Monday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.17). The firm had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $4.90 billion. Tenet Healthcare Corporation had a negative net margin of 0.97% and a negative return on equity of 2.00%. The business’s revenue for the quarter was up 204.1% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. Analysts predict that Tenet Healthcare Corporation will post $0.82 earnings per share for the current year.
A number of analysts have weighed in on the company. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $25.00 price target on shares of Tenet Healthcare Corporation in a research report on Tuesday, July 18th. Zacks Investment Research raised Tenet Healthcare Corporation from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a research report on Monday, July 10th. BidaskClub raised Tenet Healthcare Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $24.00 price target on shares of Tenet Healthcare Corporation in a research report on Friday, September 1st. Finally, ValuEngine cut Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Tenet Healthcare Corporation currently has a consensus rating of “Hold” and a consensus price target of $21.43.
Tenet Healthcare Corporation Company 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.
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