Tenet Healthcare Corp (THC) Shares Bought by Fmr LLC

FMR LLC increased its position in shares of Tenet Healthcare Corp (NYSE:THC) by 24.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,560,313 shares of the company’s stock after buying an additional 504,800 shares during the period. FMR LLC owned approximately 2.57% of Tenet Healthcare Corp worth $37,995,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in THC. Spark Investment Management LLC increased its position in Tenet Healthcare Corp by 0.6% in the third quarter. Spark Investment Management LLC now owns 35,200 shares of the company’s stock worth $797,000 after buying an additional 200 shares in the last quarter. BB&T Securities LLC increased its position in Tenet Healthcare Corp by 0.7% in the third quarter. BB&T Securities LLC now owns 41,960 shares of the company’s stock worth $950,000 after buying an additional 297 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in Tenet Healthcare Corp by 1.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 44,580 shares of the company’s stock worth $1,010,000 after buying an additional 620 shares in the last quarter. Boston Private Wealth LLC boosted its stake in shares of Tenet Healthcare Corp by 3.4% in the third quarter. Boston Private Wealth LLC now owns 40,855 shares of the company’s stock worth $926,000 after buying an additional 1,345 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Tenet Healthcare Corp by 0.8% in the third quarter. California State Teachers Retirement System now owns 170,944 shares of the company’s stock worth $3,874,000 after buying an additional 1,400 shares during the last quarter.

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

Tenet Healthcare Corp (NYSE:THC) traded up 3.67% during mid-day trading on Friday, hitting $15.54. 4,474,217 shares of the stock traded hands. The company’s 50 day moving average is $17.86 and its 200 day moving average is $18.11. Tenet Healthcare Corp has a 12 month low of $14.06 and a 12 month high of $34.08. The company’s market cap is $1.55 billion.

Tenet Healthcare Corp (NYSE:THC) last posted its quarterly earnings data on Monday, February 27th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.16. Tenet Healthcare Corp had a negative net margin of 1.04% and a positive return on equity of 12.75%. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.95 billion. During the same quarter last year, the firm earned $0.35 EPS. The company’s revenue was down 3.3% on a year-over-year basis. On average, analysts expect that Tenet Healthcare Corp will post $1.17 earnings per share for the current fiscal year.

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A number of analysts recently commented on the stock. Citigroup Inc dropped their price target on shares of Tenet Healthcare Corp from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, March 6th. Piper Jaffray Companies assumed coverage on shares of Tenet Healthcare Corp in a research note on Tuesday, January 3rd. They set a “neutral” rating and a $16.00 price target on the stock. Royal Bank of Canada restated a “hold” rating and set a $25.00 price target on shares of Tenet Healthcare Corp in a research note on Friday, March 3rd. Mizuho upgraded shares of Tenet Healthcare Corp from an “underperform” rating to a “neutral” rating and upped their price target for the company from $13.00 to $22.80 in a research note on Friday, February 24th. Finally, Jefferies Group LLC dropped their price target on shares of Tenet Healthcare Corp from $36.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, February 6th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $26.92.

About Tenet Healthcare Corp

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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