Ontario Teachers Pension Plan Board Acquires New Position in Tenet Healthcare Corp (NYSE:THC)

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Ontario Teachers Pension Plan Board acquired a new stake in shares of Tenet Healthcare Corp (NYSE:THC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,070 shares of the company’s stock, valued at approximately $348,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its position in shares of Tenet Healthcare by 1,653.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 565,569 shares of the company’s stock worth $33,000 after buying an additional 533,313 shares during the last quarter. Enlightenment Research LLC bought a new position in shares of Tenet Healthcare in the 4th quarter worth about $36,000. PNC Financial Services Group Inc. lifted its position in shares of Tenet Healthcare by 101.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the company’s stock worth $38,000 after buying an additional 682 shares during the last quarter. Pearl River Capital LLC bought a new position in shares of Tenet Healthcare in the 4th quarter worth about $41,000. Finally, Financial Gravity Wealth Inc. bought a new position in shares of Tenet Healthcare in the 1st quarter worth about $51,000. Hedge funds and other institutional investors own 99.25% of the company’s stock.

THC has been the topic of a number of recent research reports. Raymond James raised their price target on shares of Tenet Healthcare from $37.00 to $47.00 in a research report on Wednesday, February 27th. ValuEngine cut shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Bank of America reaffirmed a “neutral” rating and issued a $30.00 price objective (up previously from $21.00) on shares of Tenet Healthcare in a report on Tuesday, February 26th. SunTrust Banks dropped their price objective on shares of Tenet Healthcare to $27.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Finally, Barclays set a $24.00 price objective on shares of Tenet Healthcare and gave the stock a “hold” rating in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.07.

Tenet Healthcare stock traded down $0.52 during trading hours on Wednesday, hitting $20.43. 25,740 shares of the company traded hands, compared to its average volume of 1,506,737. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 0.39 and a beta of 1.63. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 21.98. Tenet Healthcare Corp has a 1-year low of $16.60 and a 1-year high of $39.74.

Tenet Healthcare (NYSE:THC) last released its earnings results on Monday, April 29th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.25. The firm had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.51 billion. Tenet Healthcare had a negative net margin of 0.04% and a positive return on equity of 29.29%. Tenet Healthcare’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.57 EPS. Research analysts expect that Tenet Healthcare Corp will post 2.32 earnings per share for the current fiscal year.

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Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, 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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Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

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