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

September 13, 2017 - By Marguerite Chambers

 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 improved, 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.

Connor Clark & Lunn Invest Mngmt owns 184,868 shares. Products Lc holds 0.18% of its portfolio in Tenet Healthcare Corp (NYSE:THC) for 185,992 shares. Creative Planning holds 0% or 5,237 shares in its portfolio. State Board Of Administration Of Florida Retirement Systems has invested 0.01% in Tenet Healthcare Corp (NYSE:THC). Clearbridge Invs reported 0% in Tenet Healthcare Corp (NYSE:THC). Legal & General Gru Plc accumulated 0% or 228,951 shares. Kcg Hldgs Inc holds 43,474 shares or 0.02% of its portfolio. California Pub Employees Retirement Sys has invested 0.02% in Tenet Healthcare Corp (NYSE:THC). Employees Retirement Association Of Colorado holds 23,523 shares. Benjamin F Edwards Co Inc invested in 0% or 675 shares. New York-based Soros Fund Mgmt Ltd Limited Liability Company has invested 0% in Tenet Healthcare Corp (NYSE:THC). Prudential Fincl holds 0% or 45,720 shares. Voya Mngmt Ltd Com reported 0% in Tenet Healthcare Corp (NYSE:THC). Systematic Mgmt L P has invested 0.03% in Tenet Healthcare Corp (NYSE:THC). Spark Inv has 195,700 shares for 0.24% of their portfolio.

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 company was initiated on Wednesday, September 16 by JP Morgan. Mizuho maintained it with “Neutral” rating and $18 target in Monday, March 27 report. The firm has “Hold” rating by RBC Capital Markets given on Monday, August 21. Mizuho upgraded it to “Neutral” rating and $22.80 target in Friday, February 24 report. On Tuesday, January 19 the stock rating was upgraded by Mizuho to “Buy”. The stock of Tenet Healthcare Corp (NYSE:THC) has “Mkt Perform” rating given on Thursday, November 10 by Raymond James. The stock of Tenet Healthcare Corp (NYSE:THC) earned “Hold” rating by Piper Jaffray on Tuesday, July 25. The firm earned “Neutral” rating on Wednesday, November 9 by Bank of America. The rating was initiated by Piper Jaffray on Wednesday, January 4 with “Neutral”. Credit Suisse maintained Tenet Healthcare Corp (NYSE:THC) on Thursday, March 24 with “Neutral” rating.

More notable recent Tenet Healthcare Corp (NYSE:THC) news were published by: Investorplace.com which released: “Tenet Healthcare Corp (THC) Stock Surges on Board Shakeup” on August 18, 2017, also Philly.com with their article: “Tenet will leave Philly, selling Hahnemann, St. Christopher’s to Paladin” published on September 01, 2017, Nasdaq.com published: “Why Is Tenet Healthcare (THC) Up 2.8% Since the Last Earnings Report?” on September 07, 2017. More interesting news about Tenet Healthcare Corp (NYSE:THC) were released by: Usatoday.com and their article: “Tenet Healthcare CEO steps down after shareholder pressure” published on September 01, 2017 as well as Wsj.com‘s news article titled: “Tenet Healthcare Is Exploring Options Including a Possible Sale of the Company” with publication date: September 13, 2017.

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