Municipal Employees Retirement System of Michigan bought a new stake in Tenet Healthcare Corp (NYSE:THC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 19,930 shares of the company’s stock, valued at approximately $342,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in THC. GWM Advisors LLC bought a new stake in Tenet Healthcare in the 4th quarter valued at about $201,000. GSA Capital Partners LLP lifted its position in Tenet Healthcare by 925.8% in the 4th quarter. GSA Capital Partners LLP now owns 85,951 shares of the company’s stock valued at $1,473,000 after purchasing an additional 77,572 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Tenet Healthcare by 110.4% during the 3rd quarter. AQR Capital Management LLC now owns 668,309 shares of the company’s stock worth $19,020,000 after buying an additional 350,745 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Tenet Healthcare by 47.3% during the 3rd quarter. Mackenzie Financial Corp now owns 263,187 shares of the company’s stock worth $7,490,000 after buying an additional 84,537 shares in the last quarter. Finally, Flinton Capital Management LLC raised its position in shares of Tenet Healthcare by 3.6% during the 4th quarter. Flinton Capital Management LLC now owns 14,484 shares of the company’s stock worth $248,000 after buying an additional 510 shares in the last quarter.
A number of research firms recently commented on THC. Raymond James boosted their target price on shares of Tenet Healthcare from $37.00 to $47.00 in a report on Wednesday, February 27th. Bank of America reissued a “neutral” rating and issued a $30.00 target price (up from $21.00) on shares of Tenet Healthcare in a research report on Tuesday, February 26th. Citigroup lifted their target price on shares of Tenet Healthcare from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. ValuEngine downgraded shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Finally, Barclays set a $24.00 price objective on shares of Tenet Healthcare and gave the company a “hold” rating in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $30.27.
Tenet Healthcare (NYSE:THC) last released its earnings results on Monday, April 29th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.25. The firm had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Tenet Healthcare had a negative net margin of 0.04% and a positive return on equity of 29.29%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 EPS. As a group, research analysts predict that Tenet Healthcare Corp will post 2.27 earnings per share for the current year.
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Tenet Healthcare 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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