Symons Capital Management Inc. bought a new position in Tenet Healthcare Corp (NYSE:THC) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 16,322 shares of the company’s stock, valued at approximately $361,000.
A number of other hedge funds have also recently modified their holdings of THC. BlackRock Inc. lifted its position in Tenet Healthcare by 9.8% in the second quarter. BlackRock Inc. now owns 11,069,966 shares of the company’s stock worth $228,706,000 after purchasing an additional 988,993 shares during the period. Camber Capital Management LP lifted its position in Tenet Healthcare by 42.9% in the second quarter. Camber Capital Management LP now owns 2,500,000 shares of the company’s stock worth $51,650,000 after purchasing an additional 750,000 shares during the period. APG Asset Management N.V. lifted its position in Tenet Healthcare by 101.0% in the second quarter. APG Asset Management N.V. now owns 1,164,100 shares of the company’s stock worth $21,119,000 after purchasing an additional 584,900 shares during the period. Nut Tree Capital Management LP bought a new position in Tenet Healthcare in the second quarter worth $11,983,000. Finally, Nuveen Asset Management LLC bought a new position in Tenet Healthcare in the second quarter worth $10,436,000. 99.16% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:THC traded down $0.30 during midday trading on Friday, reaching $29.70. The company’s stock had a trading volume of 1,383,065 shares, compared to its average volume of 1,500,061. Tenet Healthcare Corp has a fifty-two week low of $16.60 and a fifty-two week high of $31.64. The company has a market capitalization of $2.91 billion, a P/E ratio of 15.97, a P/E/G ratio of 0.74 and a beta of 1.66. The company has a debt-to-equity ratio of 30.38, a current ratio of 1.22 and a quick ratio of 1.06. The business’s fifty day simple moving average is $23.99 and its 200-day simple moving average is $21.88.
Several research analysts recently commented on the company. Goldman Sachs Group initiated coverage on Tenet Healthcare in a research report on Wednesday, August 14th. They issued a “neutral” rating and a $28.00 target price for the company. Mizuho reissued a “buy” rating on shares of Tenet Healthcare in a report on Thursday. SunTrust Banks lifted their price objective on Tenet Healthcare from $24.00 to $31.00 and gave the company a “hold” rating in a report on Wednesday. ValuEngine cut Tenet Healthcare from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 5th. Finally, Credit Suisse Group raised Tenet Healthcare from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $25.00 to $36.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.64.
In other Tenet Healthcare news, major shareholder Glenview Capital Management, L bought 613,781 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $20.12 per share, for a total transaction of $12,349,273.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward A. Kangas sold 45,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $20.28, for a total value of $912,600.00. Following the completion of the sale, the director now owns 47,138 shares of the company’s stock, valued at $955,958.64. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 1,098,419 shares of company stock valued at $22,395,899. 1.50% of the stock is currently owned by corporate insiders.
Tenet Healthcare Company 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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