Public Employees Retirement System of Ohio Increases Stake in Tenet Healthcare Corp (THC)

Public Employees Retirement System of Ohio lifted its holdings in Tenet Healthcare Corp (NYSE:THC) by 86.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 34,465 shares of the company’s stock after purchasing an additional 16,000 shares during the period. Public Employees Retirement System of Ohio’s holdings in Tenet Healthcare were worth $566,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its stake in shares of Tenet Healthcare by 13.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 451,626 shares of the company’s stock worth $8,735,000 after acquiring an additional 54,494 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Tenet Healthcare by 6.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,113,140 shares of the company’s stock worth $21,528,000 after acquiring an additional 71,465 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Tenet Healthcare by 5.6% during the 2nd quarter. Legal & General Group Plc now owns 290,027 shares of the company’s stock worth $5,610,000 after acquiring an additional 15,389 shares in the last quarter. Comerica Bank raised its stake in shares of Tenet Healthcare by 1.6% during the 2nd quarter. Comerica Bank now owns 62,852 shares of the company’s stock worth $1,327,000 after acquiring an additional 989 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Tenet Healthcare by 9.5% during the 2nd quarter. Prudential Financial Inc. now owns 53,835 shares of the company’s stock worth $1,041,000 after acquiring an additional 4,665 shares in the last quarter.

Several research firms recently commented on THC. Citigroup reiterated a “hold” rating and set a $16.00 price objective on shares of Tenet Healthcare in a research note on Thursday, September 14th. ValuEngine lowered shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Royal Bank of Canada restated a “hold” rating and set a $19.00 price target on shares of Tenet Healthcare in a research note on Monday, September 25th. Credit Suisse Group began coverage on shares of Tenet Healthcare in a research note on Thursday, November 2nd. They set a “neutral” rating and a $15.00 price target on the stock. Finally, Mizuho restated a “hold” rating on shares of Tenet Healthcare in a research note on Friday, November 10th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $18.87.

Tenet Healthcare Corp (NYSE THC) opened at $15.44 on Friday. The company has a debt-to-equity ratio of 21.21, a quick ratio of 1.21 and a current ratio of 1.28. Tenet Healthcare Corp has a 52 week low of $12.25 and a 52 week high of $22.72. The stock has a market cap of $1,560.00, a P/E ratio of -2.81, a price-to-earnings-growth ratio of 2.12 and a beta of 1.17.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Monday, November 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.23. The business had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.94 billion. Tenet Healthcare had a negative net margin of 2.85% and a negative return on equity of 5.61%. Tenet Healthcare’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 EPS. equities research analysts expect that Tenet Healthcare Corp will post 0.69 earnings per share for the current fiscal year.

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

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