Tenet Healthcare Corp (THC) : Mariner Investment Group reduced its stake in Tenet Healthcare Corp by 36.75% during the most recent quarter end. The investment management company now holds a total of 79,500 shares of Tenet Healthcare Corp which is valued at $2,212,485 after selling 46,200 shares in Tenet Healthcare Corp , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Tenet Healthcare Corp makes up approximately 0.72% of Mariner Investment Group’s portfolio.
Other Hedge Funds, Including , Tipp Hill Capital Management reduced its stake in THC by selling 243,000 shares or 82.94% in the most recent quarter. The Hedge Fund company now holds 50,000 shares of THC which is valued at $1,391,500. Tenet Healthcare Corp makes up approx 20.64% of Tipp Hill Capital Management’s portfolio.Spot Trading L.l.c reduced its stake in THC by selling 2,315 shares or 15.14% in the most recent quarter. The Hedge Fund company now holds 12,974 shares of THC which is valued at $361,066. Tenet Healthcare Corp makes up approx 0.05% of Spot Trading L.l.c’s portfolio.Meeder Asset Management Inc reduced its stake in THC by selling 11 shares or 0.06% in the most recent quarter. The Hedge Fund company now holds 18,634 shares of THC which is valued at $586,226. Tenet Healthcare Corp makes up approx 0.05% of Meeder Asset Management Inc’s portfolio.
Tenet Healthcare Corp closed down -0.16 points or -0.58% at $27.32 with 18,07,927 shares getting traded on Monday. Post opening the session at $27.58, the shares hit an intraday low of $27.125 and an intraday high of $27.85 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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. Shares were Reiterated by Mizuho on Aug 2, 2016 to “Neutral” and Lowered the Price Target to $ 28 from a previous price target of $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.