Steamboat Capital Partners LLC bought a new stake in Tenet Healthcare Co. (NYSE:THC – Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 125,000 shares of the company’s stock, valued at approximately $7,428,000. Tenet Healthcare comprises 2.5% of Steamboat Capital Partners LLC’s holdings, making the stock its 19th biggest holding. Steamboat Capital Partners LLC owned approximately 0.12% of Tenet Healthcare as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in THC. BlackRock Inc. raised its stake in shares of Tenet Healthcare by 14.7% during the first quarter. BlackRock Inc. now owns 11,639,373 shares of the company’s stock valued at $691,612,000 after purchasing an additional 1,491,799 shares in the last quarter. Norges Bank bought a new stake in shares of Tenet Healthcare during the fourth quarter valued at about $65,580,000. Glenview Capital Management LLC raised its stake in shares of Tenet Healthcare by 9.8% during the fourth quarter. Glenview Capital Management LLC now owns 8,896,111 shares of the company’s stock valued at $434,041,000 after purchasing an additional 796,463 shares in the last quarter. Greenlight Capital Inc. raised its stake in shares of Tenet Healthcare by 116.6% during the first quarter. Greenlight Capital Inc. now owns 1,426,970 shares of the company’s stock valued at $84,791,000 after purchasing an additional 768,070 shares in the last quarter. Finally, Avidity Partners Management LP bought a new stake in shares of Tenet Healthcare during the fourth quarter valued at about $34,997,000. 93.56% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Credit Suisse Group lifted their price objective on shares of Tenet Healthcare from $92.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. UBS Group boosted their price target on shares of Tenet Healthcare from $95.00 to $104.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Royal Bank of Canada boosted their price target on shares of Tenet Healthcare from $84.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Stephens boosted their price target on shares of Tenet Healthcare from $87.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 1st. Finally, Citigroup boosted their price target on shares of Tenet Healthcare from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tenet Healthcare has a consensus rating of “Buy” and an average price target of $82.94.
Tenet Healthcare Stock Down 1.9 %
NYSE:THC traded down $1.39 on Tuesday, hitting $72.00. 681,143 shares of the company’s stock traded hands, compared to its average volume of 1,419,174. The company has a current ratio of 1.44, a quick ratio of 1.35 and a debt-to-equity ratio of 5.47. Tenet Healthcare Co. has a 1 year low of $36.69 and a 1 year high of $85.40. The firm has a 50-day moving average price of $76.53 and a 200-day moving average price of $70.46. The company has a market cap of $7.31 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.96 and a beta of 2.13.
Tenet Healthcare (NYSE:THC – Get Free Report) last released its earnings results on Monday, July 31st. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.18. Tenet Healthcare had a return on equity of 26.60% and a net margin of 2.51%. The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.91 billion. During the same quarter in the previous year, the business posted $1.50 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts anticipate that Tenet Healthcare Co. will post 5.73 EPS for the current fiscal year.
Tenet Healthcare Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates through three segments: Hospital Operations, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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