Private Management Group Inc. increased its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 813,918 shares of the company’s stock after buying an additional 9,386 shares during the period. Private Management Group Inc. owned about 0.81% of Tenet Healthcare Corporation worth $15,741,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in THC. FNY Managed Accounts LLC acquired a new stake in Tenet Healthcare Corporation during the first quarter worth $109,000. PNC Financial Services Group Inc. raised its stake in Tenet Healthcare Corporation by 52.1% in the first quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock worth $117,000 after buying an additional 2,266 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Tenet Healthcare Corporation by 57.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock worth $126,000 after buying an additional 2,590 shares during the last quarter. First Mercantile Trust Co. raised its stake in Tenet Healthcare Corporation by 23.8% in the first quarter. First Mercantile Trust Co. now owns 9,900 shares of the company’s stock worth $175,000 after buying an additional 1,900 shares during the last quarter. Finally, Advantus Capital Management Inc raised its stake in Tenet Healthcare Corporation by 3.2% in the first quarter. Advantus Capital Management Inc now owns 10,223 shares of the company’s stock worth $181,000 after buying an additional 317 shares during the last quarter.

Tenet Healthcare Corporation (NYSE THC) traded down 0.70% on Friday, reaching $17.05. 641,807 shares of the company’s stock traded hands. Tenet Healthcare Corporation has a 12 month low of $12.54 and a 12 month high of $24.86. The company’s market cap is $1.72 billion. The firm’s 50 day moving average price is $16.85 and its 200 day moving average price is $17.76.

Tenet Healthcare Corporation (NYSE:THC) last released its quarterly earnings results on Monday, August 7th. The company reported ($0.17) earnings per share for the quarter, meeting the consensus estimate of ($0.17). The business had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Tenet Healthcare Corporation had a negative net margin of 0.97% and a negative return on equity of 2.00%. The firm’s revenue for the quarter was up 204.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. On average, equities analysts expect that Tenet Healthcare Corporation will post $0.83 EPS for the current fiscal year.

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A number of research firms have weighed in on THC. Robert W. Baird reissued a “buy” rating and set a $23.00 target price on shares of Tenet Healthcare Corporation in a report on Thursday, August 24th. Credit Suisse Group boosted their target price on shares of Tenet Healthcare Corporation from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, May 5th. Leerink Swann raised shares of Tenet Healthcare Corporation from a “market perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a report on Tuesday, June 6th. Citigroup Inc. reissued a “neutral” rating and set a $16.00 target price (down from $20.00) on shares of Tenet Healthcare Corporation in a report on Thursday, August 10th. Finally, Mizuho reissued a “neutral” rating and set a $14.00 target price on shares of Tenet Healthcare Corporation in a report on Sunday, August 20th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $21.43.

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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