First Trust Advisors LP boosted its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 49.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 269,061 shares of the company’s stock after buying an additional 88,663 shares during the period. First Trust Advisors LP owned 0.27% of Tenet Healthcare Corporation worth $5,204,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its position in Tenet Healthcare Corporation by 2.1% in the second quarter. Arizona State Retirement System now owns 33,900 shares of the company’s stock valued at $656,000 after buying an additional 700 shares during the period. New Jersey Better Educational Savings Trust purchased a new position in Tenet Healthcare Corporation during the second quarter valued at $348,000. Schwab Charles Investment Management Inc. increased its position in Tenet Healthcare Corporation by 13.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 451,626 shares of the company’s stock valued at $8,735,000 after buying an additional 54,494 shares during the period. Trexquant Investment LP purchased a new position in Tenet Healthcare Corporation during the second quarter valued at $472,000. Finally, Retirement Systems of Alabama increased its position in Tenet Healthcare Corporation by 0.6% in the second quarter. Retirement Systems of Alabama now owns 103,679 shares of the company’s stock valued at $2,005,000 after buying an additional 591 shares during the period.

Shares of Tenet Healthcare Corporation (NYSE THC) opened at 17.17 on Friday. The firm’s 50-day moving average price is $16.85 and its 200 day moving average price is $17.76. The firm’s market cap is $1.73 billion. Tenet Healthcare Corporation has a 1-year low of $12.54 and a 1-year high of $24.86.

Tenet Healthcare Corporation (NYSE:THC) last issued its quarterly earnings results on Monday, August 7th. The company reported ($0.17) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.17). Tenet Healthcare Corporation had a negative return on equity of 2.00% and a negative net margin of 0.97%. The company had revenue of $14.80 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the company posted $0.38 EPS. The business’s revenue for the quarter was up 204.1% compared to the same quarter last year. On average, equities research analysts forecast that Tenet Healthcare Corporation will post $0.83 EPS for the current fiscal year.

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Several research firms have recently weighed in on THC. Robert W. Baird restated a “buy” rating and issued a $23.00 target price on shares of Tenet Healthcare Corporation in a research report on Thursday, August 24th. Royal Bank Of Canada restated a “hold” rating and issued a $25.00 target price on shares of Tenet Healthcare Corporation in a research report on Thursday, August 24th. Mizuho restated a “neutral” rating and issued a $14.00 target price on shares of Tenet Healthcare Corporation in a research report on Sunday, August 20th. Leerink Swann restated an “outperform” rating and issued a $30.00 target price (up previously from $23.00) on shares of Tenet Healthcare Corporation in a research report on Sunday, August 20th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $24.00 price objective (down previously from $28.00) on shares of Tenet Healthcare Corporation in a research report on Thursday, August 10th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price 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.

Institutional Ownership by Quarter for Tenet Healthcare Corporation (NYSE:THC)

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