Comerica Bank increased its stake in Tenet Healthcare Corp (NYSE:THC) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,900 shares of the company’s stock after buying an additional 3,351 shares during the period. Comerica Bank’s holdings in Tenet Healthcare Corp were worth $1,073,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. Harris Associates L P increased its stake in Tenet Healthcare Corp by 0.9% in the third quarter. Harris Associates L P now owns 8,411,922 shares of the company’s stock worth $190,615,000 after buying an additional 78,129 shares in the last quarter. BlackRock Advisors LLC increased its stake in Tenet Healthcare Corp by 86.2% in the third quarter. BlackRock Advisors LLC now owns 4,567,713 shares of the company’s stock worth $103,504,000 after buying an additional 2,114,791 shares in the last quarter. BlackRock Group LTD increased its stake in Tenet Healthcare Corp by 71.8% in the third quarter. BlackRock Group LTD now owns 1,877,045 shares of the company’s stock worth $42,533,000 after buying an additional 784,764 shares in the last quarter. BlackRock Investment Management LLC increased its stake in Tenet Healthcare Corp by 42.2% in the third quarter. BlackRock Investment Management LLC now owns 795,716 shares of the company’s stock worth $18,031,000 after buying an additional 236,147 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in Tenet Healthcare Corp by 3.8% in the third quarter. California Public Employees Retirement System now owns 618,410 shares of the company’s stock worth $14,013,000 after buying an additional 22,400 shares in the last quarter.
Tenet Healthcare Corp (NYSE:THC) opened at 18.28 on Friday. The stock has a 50 day moving average of $19.12 and a 200 day moving average of $18.88. Tenet Healthcare Corp has a 12 month low of $14.06 and a 12 month high of $34.08. The firm’s market capitalization is $1.82 billion.
Tenet Healthcare Corp (NYSE:THC) last posted its quarterly earnings data on Monday, February 27th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by $0.16. Tenet Healthcare Corp had a positive return on equity of 12.75% and a negative net margin of 1.04%. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.95 billion. During the same quarter last year, the business posted $0.35 EPS. The business’s quarterly revenue was down 3.3% on a year-over-year basis. On average, equities analysts predict that Tenet Healthcare Corp will post $1.18 earnings per share for the current fiscal year.
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A number of analysts have issued reports on the stock. Citigroup Inc cut their price objective on shares of Tenet Healthcare Corp from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, March 6th. Jefferies Group LLC cut their price objective on shares of Tenet Healthcare Corp from $36.00 to $28.00 and set a “buy” rating for the company in a report on Monday, February 6th. Mizuho raised shares of Tenet Healthcare Corp from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $13.00 to $22.80 in a report on Friday, February 24th. Royal Bank of Canada reissued a “hold” rating and issued a $25.00 price objective on shares of Tenet Healthcare Corp in a report on Friday, March 3rd. Finally, Zacks Investment Research downgraded shares of Tenet Healthcare Corp from a “hold” rating to a “strong sell” rating in a report on Thursday, March 9th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.06.
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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