Aberdeen Asset Management PLC UK Has $1.27 Million Position in Tenet Healthcare Corporation (THC)
Aberdeen Asset Management PLC UK increased its stake in Tenet Healthcare Corporation (NYSE:THC) by 94.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,609 shares of the company’s stock after purchasing an additional 31,807 shares during the quarter. Aberdeen Asset Management PLC UK owned approximately 0.07% of Tenet Healthcare Corporation worth $1,269,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. FNY Managed Accounts LLC purchased a new position in Tenet Healthcare Corporation in the 1st quarter worth about $109,000. PNC Financial Services Group Inc. grew its stake in Tenet Healthcare Corporation by 52.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock valued at $117,000 after acquiring an additional 2,266 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Tenet Healthcare Corporation by 57.4% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock valued at $126,000 after acquiring an additional 2,590 shares in the last quarter. Advantus Capital Management Inc grew its stake in Tenet Healthcare Corporation by 3.2% during the 1st quarter. Advantus Capital Management Inc now owns 10,223 shares of the company’s stock valued at $181,000 after acquiring an additional 317 shares in the last quarter. Finally, Segantii Capital Management Ltd purchased a new position in Tenet Healthcare Corporation during the 1st quarter valued at about $186,000.
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Shares of Tenet Healthcare Corporation (THC) opened at 15.57 on Thursday. The stock’s 50 day moving average price is $15.97 and its 200-day moving average price is $17.44. Tenet Healthcare Corporation has a 52-week low of $12.54 and a 52-week high of $24.13. The company’s market capitalization is $1.57 billion.
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, hitting the Thomson Reuters’ consensus estimate of ($0.17). The business had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Tenet Healthcare Corporation had a negative return on equity of 2.00% and a negative net margin of 0.97%. The firm’s revenue for the quarter was up 204.1% compared to the same quarter last year. During the same period last year, the firm posted $0.38 EPS. On average, analysts expect that Tenet Healthcare Corporation will post $0.82 earnings per share for the current year.
THC has been the topic of several research analyst reports. ValuEngine cut Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Leerink Swann reaffirmed an “outperform” rating and set a $30.00 target price (up previously from $23.00) on shares of Tenet Healthcare Corporation in a research note on Sunday, August 20th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $25.00 target price on shares of Tenet Healthcare Corporation in a research note on Thursday, August 24th. Citigroup Inc. reaffirmed a “hold” rating and set a $16.00 target price on shares of Tenet Healthcare Corporation in a research note on Thursday, September 14th. Finally, Zacks Investment Research cut Tenet Healthcare Corporation from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Four analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $21.43.
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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