First Trust Advisors LP Has $1.36 Million Holdings in Tenet Healthcare Corp (THC)

First Trust Advisors LP reduced its stake in shares of Tenet Healthcare Corp (NYSE:THC) by 51.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,167 shares of the company’s stock after selling 84,207 shares during the quarter. First Trust Advisors LP owned 0.08% of Tenet Healthcare worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Tenet Healthcare by 9.4% during the third quarter. Vanguard Group Inc. now owns 11,496,136 shares of the company’s stock worth $327,180,000 after purchasing an additional 990,373 shares during the period. Vanguard Group Inc raised its stake in Tenet Healthcare by 9.4% during the third quarter. Vanguard Group Inc now owns 11,496,136 shares of the company’s stock worth $327,180,000 after purchasing an additional 990,373 shares during the period. Dimensional Fund Advisors LP raised its stake in Tenet Healthcare by 1.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,379,701 shares of the company’s stock worth $67,726,000 after purchasing an additional 24,064 shares during the period. FMR LLC raised its stake in Tenet Healthcare by 8.7% during the third quarter. FMR LLC now owns 955,120 shares of the company’s stock worth $27,183,000 after purchasing an additional 76,835 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Tenet Healthcare by 113.1% in the third quarter. Deutsche Bank AG now owns 763,101 shares of the company’s stock worth $21,716,000 after acquiring an additional 404,966 shares in the last quarter.

Several equities research analysts have recently issued reports on THC shares. Zacks Investment Research raised shares of Tenet Healthcare from a “sell” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, January 15th. ValuEngine raised shares of Tenet Healthcare from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Barclays reissued a “hold” rating and issued a $20.00 price objective on shares of Tenet Healthcare in a research report on Sunday, January 6th. Citigroup raised their price target on shares of Tenet Healthcare from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Finally, Bank of America reaffirmed a “neutral” rating and set a $30.00 price target (up from $21.00) on shares of Tenet Healthcare in a report on Tuesday, February 26th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Tenet Healthcare has an average rating of “Hold” and a consensus price target of $30.71.

Shares of Tenet Healthcare stock traded down $0.17 during trading hours on Monday, reaching $28.84. The company’s stock had a trading volume of 699,800 shares, compared to its average volume of 1,347,197. The company has a debt-to-equity ratio of 21.32, a quick ratio of 1.12 and a current ratio of 1.20. Tenet Healthcare Corp has a one year low of $16.60 and a one year high of $39.74. The company has a market cap of $2.99 billion, a P/E ratio of 15.51, a PEG ratio of 0.56 and a beta of 1.83.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Monday, February 25th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.27. Tenet Healthcare had a net margin of 0.61% and a return on equity of 30.43%. The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same period last year, the firm posted $1.40 EPS. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, sell-side analysts predict that Tenet Healthcare Corp will post 2.26 earnings per share for the current year.

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Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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

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