California Public Employees Retirement System reduced its holdings in shares of Tenet Healthcare Corp (NYSE:THC) by 11.8% during the first quarter, Holdings Channel reports. The fund owned 347,212 shares of the company’s stock after selling 46,309 shares during the period. California Public Employees Retirement System’s holdings in Tenet Healthcare were worth $10,014,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of THC. Retirement Systems of Alabama raised its position in shares of Tenet Healthcare by 0.6% in the 1st quarter. Retirement Systems of Alabama now owns 108,254 shares of the company’s stock worth $3,122,000 after purchasing an additional 611 shares during the last quarter. GWM Advisors LLC purchased a new position in shares of Tenet Healthcare in the 4th quarter worth about $201,000. GSA Capital Partners LLP raised its position in shares of Tenet Healthcare by 925.8% in the 4th quarter. GSA Capital Partners LLP now owns 85,951 shares of the company’s stock worth $1,473,000 after purchasing an additional 77,572 shares during the last quarter. Flinton Capital Management LLC raised its position in shares of Tenet Healthcare by 3.6% in the 4th quarter. Flinton Capital Management LLC now owns 14,484 shares of the company’s stock worth $248,000 after purchasing an additional 510 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Tenet Healthcare by 1.2% in the 4th quarter. Arizona State Retirement System now owns 59,589 shares of the company’s stock worth $1,021,000 after purchasing an additional 696 shares during the last quarter.

Several equities analysts have recently issued reports on the company. TheStreet lowered Tenet Healthcare from a “c” rating to a “d+” rating in a research report on Monday, May 13th. ValuEngine lowered Tenet Healthcare from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. SunTrust Banks lowered their price target on Tenet Healthcare to $27.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Barclays set a $24.00 price target on Tenet Healthcare and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Finally, Raymond James lifted their price target on Tenet Healthcare from $37.00 to $47.00 in a research report on Wednesday, February 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Tenet Healthcare has an average rating of “Hold” and an average price target of $30.07.

NYSE THC opened at $21.34 on Friday. Tenet Healthcare Corp has a one year low of $16.60 and a one year high of $39.74. The stock has a market capitalization of $2.31 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 0.42 and a beta of 1.68. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 21.98.

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

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Tenet Healthcare 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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