Folger Hill Asset Management LP bought a new stake in shares of Tenet Healthcare Corp (NYSE:THC) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 75,000 shares of the company’s stock, valued at approximately $1,137,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Pentwater Capital Management LP purchased a new position in Tenet Healthcare during the third quarter valued at $164,000. Russell Investments Group Ltd. grew its stake in shares of Tenet Healthcare by 182.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock worth $173,000 after buying an additional 6,800 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Tenet Healthcare in the 3rd quarter worth $183,000. Sterling Capital Management LLC purchased a new position in shares of Tenet Healthcare in the 3rd quarter worth $227,000. Finally, New Mexico Educational Retirement Board purchased a new position in shares of Tenet Healthcare in the 4th quarter worth $303,000.
In other news, Director George Fredrick Smitherman sold 14,300 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $2.02, for a total value of $28,886.00. Insiders sold a total of 54,600 shares of company stock valued at $94,146 in the last 90 days. Company insiders own 3.10% of the company’s stock.
Shares of Tenet Healthcare Corp (NYSE THC) opened at $24.18 on Friday. The stock has a market cap of $2,410.42, a PE ratio of -3.46, a PEG ratio of 2.05 and a beta of 1.07. The company has a quick ratio of 1.22, a current ratio of 1.29 and a debt-to-equity ratio of 27.44. Tenet Healthcare Corp has a twelve month low of $12.25 and a twelve month high of $24.26.
Tenet Healthcare (NYSE:THC) last released its earnings results on Monday, February 26th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.15. The firm had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.85 billion. Tenet Healthcare had a negative net margin of 3.67% and a positive return on equity of 9.69%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $0.06 EPS. research analysts expect that Tenet Healthcare Corp will post 0.92 earnings per share for the current fiscal year.
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About Tenet Healthcare
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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