Quantbot Technologies LP boosted its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 142.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,839 shares of the company’s stock after purchasing an additional 12,240 shares during the quarter. Quantbot Technologies LP’s holdings in Tenet Healthcare Corporation were worth $403,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. North Tide Capital LLC acquired a new position in Tenet Healthcare Corporation during the first quarter valued at approximately $35,420,000. FMR LLC raised its position in shares of Tenet Healthcare Corporation by 36.9% in 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 period. King Street Capital Management L.P. bought a new position in shares of Tenet Healthcare Corporation in the first quarter valued at approximately $17,710,000. Franklin Resources Inc. raised its position in shares of Tenet Healthcare Corporation by 25.0% in the second quarter. Franklin Resources Inc. now owns 5,000,000 shares of the company’s stock valued at $96,700,000 after purchasing an additional 1,000,000 shares during the period. Finally, First Eagle Investment Management LLC bought a new position in shares of Tenet Healthcare Corporation in the second quarter valued at approximately $15,059,000.

A number of analysts have recently weighed in on the stock. Mizuho restated a “neutral” rating and issued a $14.00 price objective on shares of Tenet Healthcare Corporation in a research note on Thursday, September 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $24.00 target price (down from $26.00) on shares of Tenet Healthcare Corporation in a research note on Tuesday, August 8th. Credit Suisse Group lowered their target price on shares of Tenet Healthcare Corporation from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 9th. Deutsche Bank AG reiterated a “buy” rating and issued a $24.00 target price (down previously from $28.00) on shares of Tenet Healthcare Corporation in a report on Thursday, August 10th. Finally, Leerink Swann reiterated an “outperform” rating and issued a $30.00 target price (up previously from $23.00) on shares of Tenet Healthcare Corporation in a report on Sunday, August 20th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.00.

Shares of Tenet Healthcare Corporation (THC) opened at 16.43 on Monday. The firm has a 50 day moving average price of $15.97 and a 200-day moving average price of $17.44. The company’s market cap is $1.66 billion. Tenet Healthcare Corporation has a 12 month low of $12.54 and a 12 month high of $24.13.

Tenet Healthcare Corporation (NYSE:THC) last released its quarterly earnings results on Monday, August 7th. The company reported ($0.17) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.17). The firm had revenue of $14.80 billion for the quarter, compared to analysts’ expectations 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 was up 204.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. Analysts anticipate that Tenet Healthcare Corporation will post $0.80 earnings per share for the current fiscal year.

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

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