Principal Financial Group Inc. raised its stake in Tenet Healthcare Corp. (NYSE:THC) by 151.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 375,927 shares of the company’s stock after buying an additional 226,546 shares during the period. Principal Financial Group Inc. owned about 0.38% of Tenet Healthcare Corp. worth $10,391,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of THC. State Street Corp raised its position in Tenet Healthcare Corp. by 0.5% in the first quarter. State Street Corp now owns 3,613,092 shares of the company’s stock valued at $104,526,000 after buying an additional 16,880 shares in the last quarter. BB&T Securities LLC raised its position in Tenet Healthcare Corp. by 97.8% in the first quarter. BB&T Securities LLC now owns 41,663 shares of the company’s stock valued at $1,205,000 after buying an additional 20,602 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Tenet Healthcare Corp. during the first quarter valued at $2,161,000. Canada Pension Plan Investment Board acquired a new position in Tenet Healthcare Corp. during the first quarter valued at $535,000. Finally, Credit Agricole S A raised its position in Tenet Healthcare Corp. by 128.6% in the first quarter. Credit Agricole S A now owns 27,786 shares of the company’s stock valued at $804,000 after buying an additional 15,631 shares in the last quarter.
Tenet Healthcare Corp. (NYSE:THC) opened at 22.78 on Friday. The stock has a 50 day moving average price of $22.68 and a 200 day moving average price of $27.38. Tenet Healthcare Corp. has a 52-week low of $20.40 and a 52-week high of $37.25. The firm’s market cap is $2.27 billion.
Tenet Healthcare Corp. (NYSE:THC) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.14. Tenet Healthcare Corp. had a negative net margin of 1.15% and a positive return on equity of 14.47%. The business earned $4.87 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the business posted $0.75 EPS. Tenet Healthcare Corp.’s revenue was up 8.4% compared to the same quarter last year. Equities analysts predict that Tenet Healthcare Corp. will post $1.54 earnings per share for the current fiscal year.
Several research firms have weighed in on THC. Zacks Investment Research lowered Tenet Healthcare Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Mizuho reiterated a “neutral” rating and set a $28.00 target price (down from $33.00) on shares of Tenet Healthcare Corp. in a report on Tuesday, August 2nd. Morgan Stanley reiterated a “hold” rating and set a $38.00 target price on shares of Tenet Healthcare Corp. in a report on Tuesday, August 2nd. Jefferies Group reiterated a “buy” rating on shares of Tenet Healthcare Corp. in a report on Monday, July 11th. Finally, Citigroup Inc. cut their price target on Tenet Healthcare Corp. from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, August 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Tenet Healthcare Corp. has a consensus rating of “Hold” and a consensus price target of $32.64.
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 operates through three segments: Hospital Operations and other, Ambulatory Care and Conifer.
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