Strs Ohio raised its position in Tenet Healthcare Corp (NYSE:THC) by 30.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,900 shares of the company’s stock after purchasing an additional 12,200 shares during the period. Strs Ohio owned approximately 0.05% of Tenet Healthcare worth $1,092,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in Tenet Healthcare by 101.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the company’s stock valued at $38,000 after purchasing an additional 682 shares in the last quarter. Financial Gravity Wealth Inc. bought a new stake in Tenet Healthcare in the first quarter valued at approximately $51,000. GWM Advisors LLC increased its stake in Tenet Healthcare by 170.4% in the first quarter. GWM Advisors LLC now owns 31,789 shares of the company’s stock valued at $51,000 after purchasing an additional 20,034 shares in the last quarter. Advisory Services Network LLC bought a new stake in Tenet Healthcare in the first quarter valued at approximately $113,000. Finally, FNY Investment Advisers LLC bought a new stake in Tenet Healthcare in the second quarter valued at approximately $185,000. 99.56% of the stock is owned by hedge funds and other institutional investors.
In other Tenet Healthcare news, major shareholder Glenview Capital Management, L bought 200,000 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, July 24th. The stock was acquired at an average price of $19.36 per share, for a total transaction of $3,872,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.
Shares of THC stock opened at $21.20 on Wednesday. The stock’s fifty day moving average is $20.32. The company has a debt-to-equity ratio of 19.96, a current ratio of 1.13 and a quick ratio of 1.06. Tenet Healthcare Corp has a 12-month low of $16.60 and a 12-month high of $34.23. The company has a market capitalization of $2.20 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 0.58 and a beta of 1.65.
Tenet Healthcare (NYSE:THC) last announced its earnings results on Monday, August 5th. The company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.12. Tenet Healthcare had a negative net margin of 0.09% and a positive return on equity of 28.95%. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Tenet Healthcare Corp will post 2.37 earnings per share for the current fiscal year.
Tenet Healthcare Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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