17.8% Stake of Tenet Healthcare Corp (THC) Owned by Glenview Capital Management, LLC
Glenview Capital Management, LLC
stated that they own a 17.8% stake in Tenet Healthcare Corp (NYSE:THC) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Monday, January 22nd. The investor owns 17,942,624 shares of the stock valued at approximately $321,890,675. The reporting parties listed on the disclosure included Glenview Capital Management, LLC and Larry Robbins. The disclosure is available through the SEC website at this hyperlink.
THC has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “hold” rating and issued a $19.00 target price on shares of Tenet Healthcare in a report on Monday, September 25th. Zacks Investment Research lowered Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Saturday. SunTrust Banks set a $15.00 target price on Tenet Healthcare and gave the company a “hold” rating in a research report on Sunday, October 15th. Robert W. Baird reissued a “buy” rating and issued a $23.00 price target on shares of Tenet Healthcare in a research report on Thursday, September 28th. Finally, Credit Suisse Group assumed coverage on Tenet Healthcare in a research report on Thursday, November 2nd. They set a “neutral” rating and a $15.00 target price on the stock. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Tenet Healthcare has an average rating of “Hold” and an average target price of $18.50.
In related news, Director George Fredrick Smitherman sold 1,300 shares of the stock in a transaction that occurred on Monday, January 15th. The stock was sold at an average price of $38.50, for a total value of $50,050.00. 3.10% of the stock is currently owned by company insiders.
Shares of Tenet Healthcare Corp (THC) traded up $0.70 during trading on Monday, hitting $17.94. The company’s stock had a trading volume of 966,646 shares, compared to its average volume of 2,670,000. Tenet Healthcare Corp has a fifty-two week low of $12.25 and a fifty-two week high of $22.72. The firm has a market capitalization of $1,810.00, a PE ratio of -3.26, a P/E/G ratio of 3.36 and a beta of 1.17. The company has a quick ratio of 1.21, a current ratio of 1.28 and a debt-to-equity ratio of 21.21.
Tenet Healthcare (NYSE:THC) last announced its earnings results on Friday, October 27th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.21. Tenet Healthcare had a negative return on equity of 5.61% and a negative net margin of 2.85%. The business had revenue of $4.59 billion during the quarter, compared to analysts’ expectations of $4.73 billion. equities analysts forecast that Tenet Healthcare Corp will post 0.69 EPS for the current fiscal year.
Tenet Healthcare 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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