Parametric Portfolio Associates LLC Boosts Stake in Tenet Healthcare Corporation (THC)

Parametric Portfolio Associates LLC raised its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 23.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 633,991 shares of the company’s stock after purchasing an additional 122,005 shares during the period. Parametric Portfolio Associates LLC owned 0.63% of Tenet Healthcare Corporation worth $12,261,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in Tenet Healthcare Corporation by 34.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 66,690 shares of the company’s stock valued at $1,290,000 after purchasing an additional 17,151 shares during the period. Private Management Group Inc. lifted its stake in shares of Tenet Healthcare Corporation by 1.2% in the 2nd quarter. Private Management Group Inc. now owns 813,918 shares of the company’s stock worth $15,741,000 after acquiring an additional 9,386 shares during the period. Franklin Resources Inc. lifted its stake in shares of Tenet Healthcare Corporation by 25.0% in the 2nd quarter. Franklin Resources Inc. now owns 5,000,000 shares of the company’s stock worth $96,700,000 after acquiring an additional 1,000,000 shares during the period. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Tenet Healthcare Corporation in the 1st quarter worth approximately $3,634,000. Finally, Legal & General Group Plc lifted its stake in shares of Tenet Healthcare Corporation by 5.6% in the 2nd quarter. Legal & General Group Plc now owns 290,027 shares of the company’s stock worth $5,610,000 after acquiring an additional 15,389 shares during the period.

Shares of Tenet Healthcare Corporation (THC) opened at 14.40 on Wednesday. The firm’s market cap is $1.45 billion. Tenet Healthcare Corporation has a 12-month low of $12.54 and a 12-month high of $24.13. The stock’s 50 day moving average is $16.37 and its 200-day moving average is $17.16.

Tenet Healthcare Corporation (NYSE:THC) last released its quarterly earnings data on Monday, August 7th. The company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). Tenet Healthcare Corporation had a negative net margin of 0.97% and a negative return on equity of 2.00%. The business had revenue of $14.80 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the firm earned $0.38 EPS. Tenet Healthcare Corporation’s quarterly revenue was up 204.1% compared to the same quarter last year. On average, analysts anticipate that Tenet Healthcare Corporation will post $0.79 EPS for the current fiscal year.

A number of analysts recently commented on the stock. Robert W. Baird reiterated a “buy” rating and issued a $23.00 target price on shares of Tenet Healthcare Corporation in a report on Thursday, September 28th. Royal Bank Of Canada reiterated a “hold” rating and issued a $19.00 target price on shares of Tenet Healthcare Corporation in a report on Monday, September 25th. Jefferies Group LLC reiterated a “buy” rating and issued a $24.00 target price on shares of Tenet Healthcare Corporation in a report on Thursday, September 21st. Zacks Investment Research downgraded shares of Tenet Healthcare Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 19th. Finally, Mizuho reiterated a “neutral” rating and issued a $14.00 target price on shares of Tenet Healthcare Corporation in a report on Thursday, September 14th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $21.00.

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About Tenet Healthcare Corporation

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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Institutional Ownership by Quarter for Tenet Healthcare Corporation (NYSE:THC)

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