Advisory Services Network LLC Makes New $113,000 Investment in Tenet Healthcare Corp (NYSE:THC)

Advisory Services Network LLC purchased a new stake in shares of Tenet Healthcare Corp (NYSE:THC) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,933 shares of the company’s stock, valued at approximately $113,000.

Several other hedge funds have also added to or reduced their stakes in THC. PNC Financial Services Group Inc. boosted its holdings in Tenet Healthcare by 101.9% during the first 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 in the last quarter. Pearl River Capital LLC acquired a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $41,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Tenet Healthcare in the first quarter valued at about $51,000. GWM Advisors LLC increased its position in Tenet Healthcare by 170.4% during the first quarter. GWM Advisors LLC now owns 31,789 shares of the company’s stock worth $51,000 after purchasing an additional 20,034 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in Tenet Healthcare by 346.3% during the fourth quarter. Bessemer Group Inc. now owns 3,325 shares of the company’s stock worth $57,000 after purchasing an additional 2,580 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

THC stock traded up $0.04 during midday trading on Thursday, reaching $18.58. 796,100 shares of the company were exchanged, compared to its average volume of 1,491,625. 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. The company’s 50-day moving average price is $20.24. The company has a market capitalization of $1.97 billion, a P/E ratio of 10.02, a price-to-earnings-growth ratio of 0.35 and a beta of 1.59.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Monday, April 29th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.25. The business 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%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. As a group, sell-side analysts predict that Tenet Healthcare Corp will post 2.33 EPS for the current year.

Several equities research analysts recently issued reports on the stock. Barclays set a $24.00 price objective on shares of Tenet Healthcare and gave the stock a “hold” rating in a research report on Wednesday, April 17th. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. SunTrust Banks increased their target price on shares of Mcdonald’s to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, TheStreet raised shares of White Mountains Insurance Group from a “c” rating to a “b” rating in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $29.46.

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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