Columbus Hill Capital Management L.P. Has $10.99 Million Holdings in Tenet Healthcare Corporation (THC)
Columbus Hill Capital Management L.P. grew its stake in Tenet Healthcare Corporation (NYSE:THC) by 990.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 568,076 shares of the company’s stock after acquiring an additional 516,000 shares during the quarter. Columbus Hill Capital Management L.P. owned 0.57% of Tenet Healthcare Corporation worth $10,987,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in THC. North Tide Capital LLC bought a new stake in Tenet Healthcare Corporation in the first quarter worth $35,420,000. Ameriprise Financial Inc. boosted its holdings in Tenet Healthcare Corporation by 302.9% in the first quarter. Ameriprise Financial Inc. now owns 1,429,821 shares of the company’s stock worth $25,321,000 after acquiring an additional 1,074,960 shares in the last quarter. FMR LLC boosted its holdings in Tenet Healthcare Corporation by 36.9% in the second quarter. FMR LLC now owns 3,724,713 shares of the company’s stock worth $72,036,000 after acquiring an additional 1,004,700 shares in the last quarter. King Street Capital Management L.P. bought a new stake in Tenet Healthcare Corporation in the first quarter worth $17,710,000. Finally, Franklin Resources Inc. boosted its holdings in Tenet Healthcare Corporation by 25.0% in the second quarter. Franklin Resources Inc. now owns 5,000,000 shares of the company’s stock worth $96,700,000 after acquiring an additional 1,000,000 shares in the last quarter.
Tenet Healthcare Corporation (THC) traded up 2.51% during mid-day trading on Friday, reaching $16.32. The company had a trading volume of 3,855,177 shares. The stock’s 50-day moving average price is $15.97 and its 200 day moving average price is $17.44. The firm’s market capitalization is $1.65 billion. Tenet Healthcare Corporation has a 52 week low of $12.54 and a 52 week high of $24.13.
Tenet Healthcare Corporation (NYSE:THC) last issued its quarterly earnings results on Monday, August 7th. The company reported ($0.17) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.17). Tenet Healthcare Corporation had a negative return on equity of 2.00% and a negative net margin of 0.97%. The company had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s revenue was up 204.1% compared to the same quarter last year. On average, equities research analysts predict that Tenet Healthcare Corporation will post $0.82 EPS for the current year.
A number of research analysts have recently issued reports on the company. Deutsche Bank AG reaffirmed 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, August 10th. Jefferies Group LLC reaffirmed 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, August 8th. Robert W. Baird reaffirmed a “buy” rating and set a $23.00 price target on shares of Tenet Healthcare Corporation in a report on Thursday, August 24th. Morgan Stanley assumed coverage on Tenet Healthcare Corporation in a report on Tuesday, June 6th. They set an “equal weight” rating and a $19.00 price target on the stock. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $25.00 price target on shares of Tenet Healthcare Corporation in a report on Tuesday, July 18th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $21.43.
Tenet Healthcare Corporation 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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