Letko Brosseau & Associates Inc. increased its stake in shares of Tenet Healthcare Corp (NYSE:THC) by 25.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,085,310 shares of the company’s stock after buying an additional 425,965 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Tenet Healthcare were worth $43,083,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Stevens Capital Management LP bought a new position in Tenet Healthcare during the 2nd quarter worth $484,000. Sector Gamma AS raised its position in shares of Tenet Healthcare by 50.3% in the 2nd quarter. Sector Gamma AS now owns 328,662 shares of the company’s stock worth $6,790,000 after acquiring an additional 109,978 shares in the last quarter. Aperio Group LLC raised its position in shares of Tenet Healthcare by 9.0% in the 2nd quarter. Aperio Group LLC now owns 60,598 shares of the company’s stock worth $1,252,000 after acquiring an additional 4,993 shares in the last quarter. KBC Group NV bought a new position in shares of Tenet Healthcare in the 2nd quarter worth about $53,000. Finally, First Trust Advisors LP raised its position in shares of Tenet Healthcare by 595.9% in the 2nd quarter. First Trust Advisors LP now owns 147,085 shares of the company’s stock worth $3,039,000 after acquiring an additional 125,950 shares in the last quarter. 99.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of THC traded down $0.31 during trading hours on Thursday, hitting $19.25. The stock had a trading volume of 40,964 shares, compared to its average volume of 1,917,736. The company has a quick ratio of 1.06, a current ratio of 1.13 and a debt-to-equity ratio of 19.96. The business’s 50 day moving average is $20.30. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 0.56 and a beta of 1.65. Tenet Healthcare Corp has a 1-year low of $16.60 and a 1-year high of $34.23.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Monday, August 5th. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.12. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.48 billion. Tenet Healthcare had a positive return on equity of 28.95% and a negative net margin of 0.09%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.49 EPS. On average, research analysts forecast that Tenet Healthcare Corp will post 2.38 EPS for the current fiscal year.

Several research analysts have recently weighed in on THC shares. ValuEngine lowered Tenet Healthcare from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Barclays set a $24.00 price objective on Tenet Healthcare and gave the stock a “hold” rating in a research report on Wednesday, April 17th. TheStreet lowered Tenet Healthcare from a “c” rating to a “d+” rating in a research report on Monday, May 13th. Goldman Sachs Group started coverage on Tenet Healthcare in a research report on Wednesday. They issued a “neutral” rating and a $28.00 price objective for the company. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $26.00 price objective on shares of Tenet Healthcare in a research report on Sunday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Tenet Healthcare has a consensus rating of “Hold” and an average target price of $28.62.

In other news, major shareholder Glenview Capital Management, L bought 200,000 shares of Tenet Healthcare stock in a transaction dated Wednesday, July 24th. The stock was bought at an average cost of $19.36 per share, for a total transaction of $3,872,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.50% of the company’s stock.

About Tenet Healthcare

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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