Deltec Asset Management Lowers stake in Tenet Healthcare Corp (THC)

Tenet Healthcare Corp (THC) : Deltec Asset Management reduced its stake in Tenet Healthcare Corp by 52.35% during the most recent quarter end. The investment management company now holds a total of 235,308 shares of Tenet Healthcare Corp which is valued at $7,228,662 after selling 258,560 shares in Tenet Healthcare Corp , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Tenet Healthcare Corp makes up approximately 1.74% of Deltec Asset Management’s portfolio.

Other Hedge Funds, Including , Retirement Systems Of Alabama boosted its stake in THC in the latest quarter, The investment management firm added 78,248 additional shares and now holds a total of 128,098 shares of Tenet Healthcare Corp which is valued at $3,935,171. Tenet Healthcare Corp makes up approx 0.02% of Retirement Systems Of Alabama’s portfolio.Checchi Capital Advisers boosted its stake in THC in the latest quarter, The investment management firm added 614 additional shares and now holds a total of 1,556 shares of Tenet Healthcare Corp which is valued at $48,952. Tenet Healthcare Corp makes up approx 0.01% of Checchi Capital Advisers’s portfolio. Weaver C. Barksdale Associates added THC to its portfolio by purchasing 2,957 company shares during the most recent quarter which is valued at $88,237. Tenet Healthcare Corp makes up approx 0.15% of Weaver C. Barksdale Associates’s portfolio. Exxonmobil Investment Management Inc Tx sold out all of its stake in THC during the most recent quarter. The investment firm sold 23,989 shares of THC which is valued $692,802.

Tenet Healthcare Corp opened for trading at $30.24 and hit $30.75 on the upside on Friday, eventually ending the session at $30.61, with a gain of 0.33% or 0.1 points. The heightened volatility saw the trading volume jump to 14,98,119 shares. Company has a market cap of $3,040 M.

On the company’s financial health, Tenet Healthcare Corp reported $0.38 EPS for the quarter, missing the analyst consensus estimate by $ -0.14 based on the information available during the earnings call on Aug 1, 2016. Analyst had a consensus of $0.52. The company had revenue of $4868.00 million for the quarter, compared to analysts expectations of $4824.96 million. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.

Many Wall Street Analysts have commented on Tenet Healthcare Corp. Mizuho Downgraded Tenet Healthcare Corp on May 4, 2016 to ” Neutral”, Price Target of the shares are set at $33.

Tenet Healthcare Corporation is a healthcare services company. The Company operates regionally focused integrated healthcare delivery networks in large urban and suburban markets. As of December 31 2014 it operated 80 hospitals 210 outpatient centers six health plans and Conifer Health Solutions LLC (Conifer) which provides healthcare business process services in the areas of revenue cycle management value-based care and patient communications. It provides operational management for revenue cycle functions including patient access health information management revenue integrity and patient financial services. It also offers communications and engagement solutions to optimize the relationship between providers and patients. Conifer operates a management services business that supports value-based performance through clinical integration financial risk management and population health management. It has two operating segments: Hospital Operations and other and Conifer.

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