New Jersey Better Educational Savings Trust acquired a new stake in Tenet Healthcare Corporation (NYSE:THC) during the second quarter, Holdings Channel reports. The fund acquired 18,000 shares of the company’s stock, valued at approximately $348,000.

A number of other institutional investors have also recently bought and sold shares of THC. FNY Managed Accounts LLC bought a new position in Tenet Healthcare Corporation during the first quarter valued at approximately $109,000. PNC Financial Services Group Inc. boosted its position in Tenet Healthcare Corporation by 52.1% in the first quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock valued at $117,000 after buying an additional 2,266 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Tenet Healthcare Corporation by 57.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock valued at $126,000 after buying an additional 2,590 shares in the last quarter. First Mercantile Trust Co. boosted its position in Tenet Healthcare Corporation by 23.8% in the first quarter. First Mercantile Trust Co. now owns 9,900 shares of the company’s stock valued at $175,000 after buying an additional 1,900 shares in the last quarter. Finally, Advantus Capital Management Inc boosted its position in Tenet Healthcare Corporation by 3.2% in the first quarter. Advantus Capital Management Inc now owns 10,223 shares of the company’s stock valued at $181,000 after buying an additional 317 shares in the last quarter.

Tenet Healthcare Corporation (THC) opened at 14.05 on Friday. The firm’s 50-day moving average is $18.20 and its 200-day moving average is $18.04. The firm’s market cap is $1.42 billion. Tenet Healthcare Corporation has a 52-week low of $13.21 and a 52-week high of $25.89.

Tenet Healthcare Corporation (NYSE:THC) last announced its quarterly earnings results on Monday, August 7th. The company reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17). The firm had revenue of $14.80 billion during 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 company’s revenue for the quarter was up 204.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 earnings per share. 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 commented on THC. Deutsche Bank AG restated a “buy” rating and set a $24.00 price target (down from $28.00) on shares of Tenet Healthcare Corporation in a report on Thursday. Citigroup Inc. restated a “neutral” rating and set a $16.00 price target (down from $20.00) on shares of Tenet Healthcare Corporation in a report on Thursday. Robert W. Baird restated an “outperform” rating and set a $23.00 price target on shares of Tenet Healthcare Corporation in a report on Thursday. Credit Suisse Group lowered their price target on shares of Tenet Healthcare Corporation from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Jefferies Group LLC restated a “buy” rating and set a $24.00 price target (down from $26.00) on shares of Tenet Healthcare Corporation in a report on Tuesday. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $22.67.

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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