Glenhill Advisors Lowers stake in Tenet Healthcare Corp (THC)

Tenet Healthcare Corp (THC) : Glenhill Advisors reduced its stake in Tenet Healthcare Corp by 34.9% during the most recent quarter end. The investment management company now holds a total of 1,297,696 shares of Tenet Healthcare Corp which is valued at $33,091,248 after selling 695,554 shares in Tenet Healthcare Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Tenet Healthcare Corp makes up approximately 2.27% of Glenhill Advisors’s portfolio.

Other Hedge Funds, Including , Babson Capital Management reduced its stake in THC by selling 10,478 shares or 24.45% in the most recent quarter. The Hedge Fund company now holds 32,377 shares of THC which is valued at $825,614. Tenet Healthcare Corp makes up approx 0.04% of Babson Capital Management’s portfolio.Levin Capital Strategies boosted its stake in THC in the latest quarter, The investment management firm added 15,770 additional shares and now holds a total of 31,770 shares of Tenet Healthcare Corp which is valued at $810,135. Tenet Healthcare Corp makes up approx 0.01% of Levin Capital Strategies’s portfolio. Public Sector Pension Investment Board sold out all of its stake in THC during the most recent quarter. The investment firm sold 16,081 shares of THC which is valued $410,066.Blackrock Group Ltd reduced its stake in THC by selling 255,949 shares or 18.98% in the most recent quarter. The Hedge Fund company now holds 1,092,281 shares of THC which is valued at $27,853,166. Tenet Healthcare Corp makes up approx 0.01% of Blackrock Group Ltd’s portfolio.

Tenet Healthcare Corp opened for trading at $24.09 and hit $24.86 on the upside on Wednesday, eventually ending the session at $24.68, with a gain of 2.58% or 0.62 points. The heightened volatility saw the trading volume jump to 2,127,188 shares. Company has a market cap of $2,456 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. 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.

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