Commonwealth Bank of Australia trimmed its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 7.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,300 shares of the company’s stock after selling 3,500 shares during the quarter. Commonwealth Bank of Australia’s holdings in Tenet Healthcare Corporation were worth $856,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of THC. Bank of Montreal Can grew its stake in Tenet Healthcare Corporation by 119.3% during the first quarter. Bank of Montreal Can now owns 12,667 shares of the company’s stock worth $223,000 after buying an additional 6,892 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Tenet Healthcare Corporation by 2.5% during the first quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the company’s stock worth $358,000 after buying an additional 500 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Tenet Healthcare Corporation by 986.7% during the first quarter. Nisa Investment Advisors LLC now owns 16,300 shares of the company’s stock worth $289,000 after buying an additional 14,800 shares during the last quarter. Nationwide Fund Advisors grew its stake in Tenet Healthcare Corporation by 0.7% during the first quarter. Nationwide Fund Advisors now owns 132,283 shares of the company’s stock worth $2,343,000 after buying an additional 968 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Tenet Healthcare Corporation by 1.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 27,911 shares of the company’s stock worth $494,000 after buying an additional 400 shares during the last quarter.

THC has been the topic of several research analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $24.00 price objective (down from $28.00) on shares of Tenet Healthcare Corporation in a research note on Thursday, August 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $24.00 price objective (down from $26.00) on shares of Tenet Healthcare Corporation in a research note on Tuesday, August 8th. Robert W. Baird reissued a “buy” rating and set a $23.00 price target on shares of Tenet Healthcare Corporation in a research note on Thursday, August 24th. Morgan Stanley began coverage on shares of Tenet Healthcare Corporation in a research note on Tuesday, June 6th. They set an “equal weight” rating and a $19.00 price target on the stock. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $25.00 price target on shares of Tenet Healthcare Corporation in a research note on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $21.43.

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Tenet Healthcare Corporation (NYSE THC) opened at 16.73 on Friday. The company has a 50-day moving average of $16.08 and a 200 day moving average of $17.53. Tenet Healthcare Corporation has a one year low of $12.54 and a one year high of $24.13. The firm’s market capitalization is $1.69 billion.

Tenet Healthcare Corporation (NYSE:THC) last posted its earnings results on Monday, August 7th. The company reported ($0.17) earnings per share for the quarter, hitting the Zacks’ 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 firm had revenue of $14.80 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the previous year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 204.1% compared to the same quarter last year. On average, analysts anticipate that Tenet Healthcare Corporation will post $0.82 EPS for the current year.

Tenet Healthcare Corporation Company Profile

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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