Principal Financial Group Inc. increased its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 8.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 342,967 shares of the company’s stock after buying an additional 27,289 shares during the period. Principal Financial Group Inc. owned about 0.34% of Tenet Healthcare Corporation worth $6,633,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in Tenet Healthcare Corporation by 34.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 66,690 shares of the company’s stock worth $1,290,000 after buying an additional 17,151 shares during the period. MARSHALL WACE ASIA Ltd purchased a new stake in Tenet Healthcare Corporation during the 1st quarter worth approximately $3,634,000. Legal & General Group Plc increased its stake in Tenet Healthcare Corporation by 5.6% during the 2nd quarter. Legal & General Group Plc now owns 290,027 shares of the company’s stock worth $5,610,000 after buying an additional 15,389 shares during the period. Zweig DiMenna Associates LLC purchased a new stake in Tenet Healthcare Corporation during the 2nd quarter worth approximately $8,831,000. Finally, North Tide Capital LLC purchased a new stake in Tenet Healthcare Corporation during the 1st quarter worth approximately $35,420,000.

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Shares of Tenet Healthcare Corporation (NYSE:THC) opened at 16.43 on Friday. The firm has a 50 day moving average of $15.97 and a 200-day moving average of $17.44. Tenet Healthcare Corporation has a 12 month low of $12.54 and a 12 month high of $24.13. The stock’s market capitalization is $1.66 billion.

Tenet Healthcare Corporation (NYSE:THC) last posted its quarterly earnings data on Monday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.17). The company had revenue of $14.80 billion for the quarter, compared to analyst estimates 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 business’s quarterly revenue was up 204.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 earnings per share. Analysts forecast that Tenet Healthcare Corporation will post $0.80 earnings per share for the current year.

Several brokerages recently weighed in on THC. Royal Bank Of Canada reaffirmed a “hold” rating and set a $25.00 target price on shares of Tenet Healthcare Corporation in a research note on Tuesday, July 18th. Zacks Investment Research raised shares of Tenet Healthcare Corporation from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research note on Monday, July 10th. BidaskClub raised shares of Tenet Healthcare Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Deutsche Bank AG reaffirmed a “buy” rating and set a $24.00 target price on shares of Tenet Healthcare Corporation in a research note on Friday, September 1st. Finally, Mizuho reaffirmed a “neutral” rating and set a $14.00 target price on shares of Tenet Healthcare Corporation in a research note on Thursday, September 14th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $21.00.

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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