NumerixS Investment Technologies Inc Boosts Stake in Tenet Healthcare Corp (NYSE:THC)

NumerixS Investment Technologies Inc raised its holdings in shares of Tenet Healthcare Corp (NYSE:THC) by 9.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,800 shares of the company’s stock after acquiring an additional 1,600 shares during the quarter. NumerixS Investment Technologies Inc’s holdings in Tenet Healthcare were worth $508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its stake in Tenet Healthcare by 1,653.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 565,569 shares of the company’s stock worth $33,000 after purchasing an additional 533,313 shares in the last quarter. Enlightenment Research LLC purchased a new stake in Tenet Healthcare in the 4th quarter worth $36,000. PNC Financial Services Group Inc. lifted its stake in Tenet Healthcare by 101.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the company’s stock worth $38,000 after purchasing an additional 682 shares in the last quarter. Pearl River Capital LLC purchased a new stake in Tenet Healthcare in the 4th quarter worth $41,000. Finally, Financial Gravity Wealth Inc. purchased a new stake in Tenet Healthcare in the 1st quarter worth $51,000. Institutional investors and hedge funds own 99.16% of the company’s stock.

A number of analysts have recently weighed in on THC shares. TheStreet downgraded shares of Tenet Healthcare from a “c” rating to a “d+” rating in a report on Monday, May 13th. ValuEngine downgraded shares of Tenet Healthcare from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. SunTrust Banks reduced their target price on shares of Tenet Healthcare to $27.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Finally, Barclays set a $24.00 target price on shares of Tenet Healthcare and gave the stock a “hold” rating in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. Tenet Healthcare presently has an average rating of “Hold” and an average target price of $30.07.

THC stock traded up $0.35 during mid-day trading on Friday, reaching $20.66. The company had a trading volume of 3,969,300 shares, compared to its average volume of 1,505,014. The company has a debt-to-equity ratio of 21.98, a current ratio of 1.23 and a quick ratio of 1.15. The stock has a market cap of $2.09 billion, a P/E ratio of 11.11, a PEG ratio of 0.37 and a beta of 1.64. The business has a 50 day moving average of $20.95. Tenet Healthcare Corp has a 12 month low of $16.60 and a 12 month high of $39.74.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Monday, April 29th. The company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.25. Tenet Healthcare had a negative net margin of 0.04% and a positive return on equity of 29.29%. The business had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the prior year, the firm earned $0.57 EPS. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities analysts anticipate that Tenet Healthcare Corp will post 2.32 EPS 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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Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

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