Meeder Asset Management Inc. increased its stake in Tenet Healthcare Corp (NYSE:THC) by 13.1% during the 3rd quarter, Holdings Channel reports. The firm owned 23,633 shares of the company’s stock after buying an additional 2,737 shares during the period. Meeder Asset Management Inc.’s holdings in Tenet Healthcare were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. UBS Group AG increased its position in Tenet Healthcare by 13.4% in the 1st quarter. UBS Group AG now owns 88,181 shares of the company’s stock worth $2,138,000 after buying an additional 10,426 shares during the period. Cubist Systematic Strategies LLC increased its position in Tenet Healthcare by 286.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 7,700 shares of the company’s stock worth $187,000 after buying an additional 5,705 shares during the period. Principal Financial Group Inc. increased its position in Tenet Healthcare by 5.6% in the 1st quarter. Principal Financial Group Inc. now owns 368,795 shares of the company’s stock worth $8,943,000 after buying an additional 19,705 shares during the period. Allianz Asset Management GmbH increased its position in Tenet Healthcare by 2.7% in the 1st quarter. Allianz Asset Management GmbH now owns 150,325 shares of the company’s stock worth $3,645,000 after buying an additional 3,950 shares during the period. Finally, Bank of Montreal Can bought a new position in Tenet Healthcare in the 2nd quarter worth approximately $450,000.

THC has been the topic of several recent analyst reports. Citigroup lifted their price target on Tenet Healthcare from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, July 23rd. ValuEngine downgraded Tenet Healthcare from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. SunTrust Banks reaffirmed a “hold” rating and issued a $35.00 price target on shares of Tenet Healthcare in a research report on Wednesday, August 8th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $34.00 price target on shares of Tenet Healthcare in a research report on Wednesday, August 8th. Finally, Mizuho set a $36.00 price target on Tenet Healthcare and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $30.56.

THC opened at $26.29 on Friday. The company has a market cap of $2.53 billion, a PE ratio of 32.46, a PEG ratio of 1.12 and a beta of 0.87. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 21.55. Tenet Healthcare Corp has a 1 year low of $12.45 and a 1 year high of $39.74.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Monday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.18. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Tenet Healthcare had a positive return on equity of 47.38% and a negative net margin of 0.61%. Tenet Healthcare’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.17) earnings per share. As a group, research analysts predict that Tenet Healthcare Corp will post 1.66 earnings per share for the current year.

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Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

Further Reading: Understanding each part of a balance sheet

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

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