Tenet Healthcare Corp Has Bullish Trade, Larry Robbins’s Glenview Capital Management Bought Stake!

September 13, 2017 - By Michael Collier

 Tenet Healthcare Corp Has Bullish Trade, Larry Robbins's Glenview Capital Management Bought Stake!

Investors sentiment increased to 0.96 in Q4 2016. Its up 0.15, from 0.81 in 2016Q3. It is positive, as 53 investors sold Tenet Healthcare Corp shares while 70 reduced holdings. 44 funds opened positions while 74 raised stakes. 98.48 million shares or 3.32% more from 95.32 million shares in 2016Q3 were reported.

Estabrook Mgmt holds 0% or 30 shares. Liberty Mutual Grp Asset Mngmt Inc holds 0.02% or 36,768 shares in its portfolio. 2,087 were reported by Us Bank & Trust De. Zurcher Kantonalbank (Zurich Cantonalbank) stated it has 3,416 shares. Great West Life Assurance Can owns 84,489 shares or 0% of their US portfolio. Kcg Hldgs Inc reported 43,474 shares or 0.02% of all its holdings. Royal Natl Bank Of Canada invested in 79,857 shares or 0% of the stock. Price Michael F stated it has 250,000 shares. Morgan Stanley invested in 0% or 249,935 shares. Glenview Capital Ltd Limited Liability Company reported 1.79% stake. Spot Trading Limited Liability stated it has 0.03% in Tenet Healthcare Corp (NYSE:THC). Synovus Financial Corp invested in 0.01% or 20,830 shares. Arizona State Retirement Systems stated it has 35,600 shares or 0.01% of all its holdings. American has 153,363 shares for 0.01% of their portfolio. Commonwealth Of Pennsylvania Public School Empls Retrmt Systems has 0% invested in Tenet Healthcare Corp (NYSE:THC).

The New Larry Robbins’s Glenview Capital Management Holding in Tenet Healthcare Corp

Glenview Capital Management reported SC 13D/A form with the SEC for Tenet Healthcare Corp. Access it here: 000090514817000798. As reported by Larry Robbins’s Glenview Capital Management, the filler owns 17.79% or 17,942,624 shares of the Health Care–company.

Tenet Healthcare Corp stake is new for [reportingPerson]. Date of activity: September13, 2017. This shows Larry Robbins’s Glenview Capital Management’s positive view for Tenet Healthcare Corp. For a hedge fund managing $13.95 billion in assets and having 73+ experts this is interesting position.

The hedge fund is investor in the Health Care sector. In the manager’s last 13-F, we saw 12% of Larry Robbins’s Glenview Capital Management’s portfolio is in the sector.

Tenet Healthcare Corp Institutional Sentiment

Filings show 292 investors own Tenet Healthcare Corp. The ownership in Q3 2015 is very high, at 91.53 % of the outstanding shares. This is increased by 5586843. 92278626 were owned by these investors. 41 funds opened new Tenet Healthcare Corp stakes, 114 increased positions. There were 60 that closed positions and 106 reduced them.

4 investors had the stock in their top 10. Some are: Accipiter Capital Management Llc, Stonehill Capital Management Llc..

Trexquant Investment Lp is an investor bullish on Tenet Healthcare Corp, owning 153100 shares as of Q3 2015 for 0.49% of its portfolio. World Asset Management Inc owns 10981 shares or 0.02% of its portfolio. NY Tocqueville Asset Management Lp have 0.01% of its portfolio for 12000 shares. Further, Winslow Asset Management Inc reported stake worth 1.62% of its portfolio. The MI Deroy & Devereaux Private Investment Counsel Inc owns 237060 shares. Tenet Healthcare Corp is 1.25% of its portfolio.

Business Profile

Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital. The Company’s Ambulatory Care segment includes the operations of its USPI joint venture and its Aspen facilities. As of December 31, 2016, Conifer provided one or more of the business process services described above from 20 service centers to more than 800 Tenet and non-Tenet hospital and other clients in over 40 states. As of December 31, 2016, the Company operated 20 short-stay surgical hospitals, over 470 outpatient centers, and nine facilities in the United Kingdom.

SEC Form 13D.

About 7.72 million shares traded or 37.86% up from the average. Tenet Healthcare Corp (NYSE:THC) has declined 36.81% since September 14, 2016 and is downtrending. It has underperformed by 53.51% the S&P500.

Tenet Healthcare Corporation is a healthcare services company. The company has market cap of $1.64 billion. The Firm operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. It currently has negative earnings. The Company’s divisions include Hospital Operations and Other, Ambulatory Care and Conifer.

Tenet Healthcare Corp (NYSE:THC) Ratings Coverage

Among 20 analysts covering Tenet Healthcare Corporation (NYSE:THC), 8 have Buy rating, 1 Sell and 11 Hold. Therefore 40% are positive. Tenet Healthcare Corporation has $68 highest and $13 lowest target. $31.56’s average target is 73.41% above currents $18.2 stock price. Tenet Healthcare Corporation had 50 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Outperform” rating by BMO Capital Markets given on Monday, August 31. The stock of Tenet Healthcare Corp (NYSE:THC) earned “Buy” rating by Jefferies on Thursday, July 13. The stock has “Positive” rating by Susquehanna on Wednesday, April 13. Mizuho downgraded the shares of THC in report on Thursday, October 22 to “Neutral” rating. The stock of Tenet Healthcare Corp (NYSE:THC) earned “Neutral” rating by Citigroup on Friday, October 2. RBC Capital Markets maintained Tenet Healthcare Corp (NYSE:THC) rating on Monday, August 21. RBC Capital Markets has “Hold” rating and $25.0 target. The firm earned “Neutral” rating on Wednesday, May 4 by Mizuho. The stock of Tenet Healthcare Corp (NYSE:THC) earned “Neutral” rating by Mizuho on Wednesday, October 5. The firm has “Mkt Perform” rating by Raymond James given on Thursday, November 10. Citigroup maintained the shares of THC in report on Wednesday, May 4 with “Neutral” rating.

More notable recent Tenet Healthcare Corp (NYSE:THC) news were published by: Nasdaq.com which released: “Why Is Tenet Healthcare (THC) Up 2.8% Since the Last Earnings Report?” on September 07, 2017, also Dallasnews.com with their article: “Tenet CEO Trevor Fetter to step down as health care company adopts plan to …” published on August 31, 2017, Usatoday.com published: “Tenet Healthcare CEO steps down after shareholder pressure” on September 01, 2017. More interesting news about Tenet Healthcare Corp (NYSE:THC) were released by: Wsj.com and their article: “Tenet Healthcare Is Exploring Options Including a Possible Sale of the Company” published on September 13, 2017 as well as Investorplace.com‘s news article titled: “Tenet Healthcare Corp (THC) Stock Surges on Board Shakeup” with publication date: August 18, 2017.

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