16,322 Shares in Tenet Healthcare Corp (NYSE:THC) Bought by Symons Capital Management Inc.

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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.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Monday, November 4th. The company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.30. Tenet Healthcare had a positive return on equity of 35.68% and a negative net margin of 1.31%. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the company posted $0.29 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, analysts forecast that Tenet Healthcare Corp will post 2.55 earnings per share for the current fiscal year.

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.

See Also: Forex

Want to see what other hedge funds are holding THC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenet Healthcare Corp (NYSE:THC).

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

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