Tenet Healthcare Corp. (THC) Stake Raised by Retirement Systems of Alabama
Retirement Systems of Alabama raised its position in shares of Tenet Healthcare Corp. (NYSE:THC) by 157.0% during the second quarter, Holdings Channel reports. The institutional investor owned 128,098 shares of the company’s stock after buying an additional 78,248 shares during the period. Retirement Systems of Alabama’s holdings in Tenet Healthcare Corp. were worth $3,541,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its position in shares of Tenet Healthcare Corp. by 0.5% in the first quarter. State Street Corp now owns 3,613,092 shares of the company’s stock worth $104,526,000 after buying an additional 16,880 shares in the last quarter. BB&T Securities LLC increased its position in shares of Tenet Healthcare Corp. by 97.8% in the first quarter. BB&T Securities LLC now owns 41,663 shares of the company’s stock worth $1,205,000 after buying an additional 20,602 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of Tenet Healthcare Corp. during the first quarter worth about $2,161,000. Canada Pension Plan Investment Board acquired a new position in shares of Tenet Healthcare Corp. during the first quarter worth about $535,000. Finally, Credit Agricole S A increased its position in shares of Tenet Healthcare Corp. by 128.6% in the first quarter. Credit Agricole S A now owns 27,786 shares of the company’s stock worth $804,000 after buying an additional 15,631 shares in the last quarter.
Tenet Healthcare Corp. (NYSE:THC) traded up 2.82% during trading on Tuesday, reaching $23.68. The company had a trading volume of 2,166,293 shares. The firm’s market capitalization is $2.36 billion. The firm’s 50 day moving average price is $22.70 and its 200 day moving average price is $27.29. Tenet Healthcare Corp. has a 12-month low of $20.40 and a 12-month high of $37.25.
Tenet Healthcare Corp. (NYSE:THC) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.14. Tenet Healthcare Corp. had a positive return on equity of 14.47% and a negative net margin of 1.15%. The company earned $4.87 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter last year, the business earned $0.75 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts forecast that Tenet Healthcare Corp. will post $1.54 EPS for the current year.
A number of brokerages have recently issued reports on THC. Zacks Investment Research downgraded Tenet Healthcare Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Mizuho reaffirmed a “neutral” rating and issued a $28.00 target price (down from $33.00) on shares of Tenet Healthcare Corp. in a research report on Tuesday, August 2nd. Morgan Stanley reaffirmed a “hold” rating and issued a $38.00 target price on shares of Tenet Healthcare Corp. in a research report on Tuesday, August 2nd. Jefferies Group reaffirmed a “buy” rating on shares of Tenet Healthcare Corp. in a research report on Monday, July 11th. Finally, Citigroup Inc. decreased their target price on Tenet Healthcare Corp. from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, August 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $32.64.
Tenet Healthcare Corp. 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 operates through three segments: Hospital Operations and other, Ambulatory Care and Conifer.
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