Systematic Financial Management LP decreased its holdings in shares of Tenet Healthcare Corp (NYSE:THC) by 19.8% in the 1st quarter, Holdings Channel reports. The fund owned 46,120 shares of the company’s stock after selling 11,405 shares during the quarter. Systematic Financial Management LP’s holdings in Tenet Healthcare were worth $1,330,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Financial Gravity Wealth Inc. acquired a new stake in Tenet Healthcare during the first quarter worth $51,000. Enlightenment Research LLC purchased a new stake in Tenet Healthcare in the 4th quarter valued at approximately $36,000. Pearl River Capital LLC purchased a new stake in Tenet Healthcare in the 4th quarter valued at approximately $41,000. Bessemer Group Inc. lifted its stake in Tenet Healthcare by 346.3% in the 4th quarter. Bessemer Group Inc. now owns 3,325 shares of the company’s stock valued at $57,000 after buying an additional 2,580 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in Tenet Healthcare in the 4th quarter valued at approximately $67,000.
Shares of Tenet Healthcare stock traded up $0.50 during trading hours on Friday, reaching $21.18. 26,284 shares of the company’s stock were exchanged, compared to its average volume of 1,833,897. Tenet Healthcare Corp has a 52-week low of $16.60 and a 52-week high of $39.74. The firm has a market cap of $2.13 billion, a PE ratio of 11.35, a P/E/G ratio of 0.39 and a beta of 1.68. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 21.98.
Tenet Healthcare (NYSE:THC) last issued its earnings results on Monday, April 29th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.25. The business had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.51 billion. Tenet Healthcare had a positive return on equity of 29.29% and a negative net margin of 0.04%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS. Equities research analysts anticipate that Tenet Healthcare Corp will post 2.32 EPS for the current year.
THC has been the topic of a number of recent research reports. Raymond James upped their target price on Tenet Healthcare from $37.00 to $47.00 in a research note on Wednesday, February 27th. ValuEngine lowered Tenet Healthcare from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Mizuho reissued a “buy” rating and set a $28.00 price target on shares of Tenet Healthcare in a research note on Monday, January 28th. Bank of America reissued a “neutral” rating and set a $30.00 price target (up previously from $21.00) on shares of Tenet Healthcare in a research note on Tuesday, February 26th. Finally, SunTrust Banks reduced their price target on Tenet Healthcare to $27.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $30.07.
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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