SG Americas Securities LLC grew its stake in Tenet Healthcare Corporation (NYSE:THC) by 324.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,240 shares of the company’s stock after buying an additional 187,492 shares during the period. SG Americas Securities LLC owned approximately 0.24% of Tenet Healthcare Corporation worth $4,029,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its stake in Tenet Healthcare Corporation by 182.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock worth $173,000 after buying an additional 6,800 shares in the last quarter. Private Management Group Inc. grew its stake in Tenet Healthcare Corporation by 11.7% in the 3rd quarter. Private Management Group Inc. now owns 909,122 shares of the company’s stock worth $14,937,000 after buying an additional 95,204 shares in the last quarter. Rhumbline Advisers grew its stake in Tenet Healthcare Corporation by 3.7% in the 3rd quarter. Rhumbline Advisers now owns 145,741 shares of the company’s stock worth $2,395,000 after buying an additional 5,163 shares in the last quarter. Sei Investments Co. grew its stake in Tenet Healthcare Corporation by 14.7% in the 3rd quarter. Sei Investments Co. now owns 465,072 shares of the company’s stock worth $7,641,000 after buying an additional 59,733 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Tenet Healthcare Corporation by 62.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 108,650 shares of the company’s stock worth $1,785,000 after buying an additional 41,960 shares in the last quarter.

Shares of Tenet Healthcare Corporation (NYSE:THC) traded up $0.13 during midday trading on Monday, reaching $13.37. 37,179 shares of the company’s stock traded hands, compared to its average volume of 3,662,618. The company has a debt-to-equity ratio of 21.21, a current ratio of 1.28 and a quick ratio of 1.21. Tenet Healthcare Corporation has a 1-year low of $12.25 and a 1-year high of $22.72.

Tenet Healthcare Corporation (NYSE:THC) last issued its quarterly earnings results on Monday, November 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.23. The company had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.94 billion. Tenet Healthcare Corporation had a negative net margin of 2.85% and a negative return on equity of 5.61%. Tenet Healthcare Corporation’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business earned $0.16 EPS. equities research analysts expect that Tenet Healthcare Corporation will post 0.7 EPS for the current year.

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A number of equities research analysts have recently issued reports on the stock. Citigroup Inc. reaffirmed a “neutral” rating and issued a $16.00 price objective (down previously from $20.00) on shares of Tenet Healthcare Corporation in a research note on Thursday, August 10th. Credit Suisse Group assumed coverage on shares of Tenet Healthcare Corporation in a research note on Thursday, November 2nd. They issued a “neutral” rating and a $15.00 price objective for the company. Deutsche Bank AG reaffirmed a “buy” rating and issued a $24.00 price objective (down previously from $28.00) on shares of Tenet Healthcare Corporation in a research note on Thursday, August 10th. Robert W. Baird reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Tenet Healthcare Corporation in a research note on Thursday, August 10th. Finally, SunTrust Banks, Inc. set a $15.00 price objective on shares of Tenet Healthcare Corporation and gave the company a “hold” rating in a research note on Sunday, October 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Tenet Healthcare Corporation has a consensus rating of “Hold” and an average target price of $19.00.

About Tenet Healthcare Corporation

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

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