Systematic Financial Management LP Cuts Stake in Tenet Healthcare Corporation (THC)
Systematic Financial Management LP lowered its position in Tenet Healthcare Corporation (NYSE:THC) by 18.4% during the first quarter, Holdings Channel reports. The fund owned 88,805 shares of the company’s stock after selling 20,055 shares during the period. Systematic Financial Management LP owned 0.09% of Tenet Healthcare Corporation worth $1,573,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Ellington Management Group LLC purchased a new stake in shares of Tenet Healthcare Corporation during the fourth quarter worth about $148,000. First Mercantile Trust Co. boosted its stake in shares of Tenet Healthcare Corporation by 23.8% in the first quarter. First Mercantile Trust Co. now owns 9,900 shares of the company’s stock worth $175,000 after buying an additional 1,900 shares during the last quarter. WFG Advisors LP boosted its stake in shares of Tenet Healthcare Corporation by 777.4% in the fourth quarter. WFG Advisors LP now owns 13,161 shares of the company’s stock worth $186,000 after buying an additional 11,661 shares during the last quarter. Soros Fund Management LLC purchased a new stake in shares of Tenet Healthcare Corporation during the fourth quarter worth about $200,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Tenet Healthcare Corporation by 10.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,820 shares of the company’s stock worth $205,000 after buying an additional 1,360 shares during the last quarter.
Shares of Tenet Healthcare Corporation (NYSE THC) traded down 0.55% during trading on Friday, hitting $18.21. The company’s stock had a trading volume of 2,019,752 shares. The company’s market capitalization is $1.83 billion. The firm’s 50 day moving average is $17.57 and its 200-day moving average is $17.44. Tenet Healthcare Corporation has a 1-year low of $14.06 and a 1-year high of $31.84.
Tenet Healthcare Corporation (NYSE:THC) last announced its earnings results on Monday, May 1st. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.25. Tenet Healthcare Corporation had a positive return on equity of 2.94% and a negative net margin of 0.92%. The firm had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter in the prior year, the company earned $0.45 EPS. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. Analysts forecast that Tenet Healthcare Corporation will post $1.19 EPS for the current fiscal year.
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Several research firms recently commented on THC. BidaskClub raised Tenet Healthcare Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Leerink Swann raised Tenet Healthcare Corporation from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research report on Tuesday, June 6th. Citigroup Inc. reduced their price target on Tenet Healthcare Corporation from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, March 6th. Wells Fargo & Company raised Tenet Healthcare Corporation from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Tuesday, June 6th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $25.00 price target on shares of Tenet Healthcare Corporation in a research report on Friday, March 3rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. Tenet Healthcare Corporation currently has an average rating of “Hold” and an average price target of $23.77.
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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