Gruss Capital Management Lp adds Tenet Healthcare Corp (THC) to its portfolio

Tenet Healthcare Corp (THC) : Gruss Capital Management Lp added new position in Tenet Healthcare Corp during the most recent quarter end. The investment management firm now holds 300,000 shares of Tenet Healthcare Corp which is valued at $7,650,000 , the company said in a statement filed on Aug 12, 2016 with the SEC.Tenet Healthcare Corp makes up approximately 1.25% of Gruss Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Bogle Investment Management L P De added THC to its portfolio by purchasing 46,863 company shares during the most recent quarter which is valued at $1,195,007. Tenet Healthcare Corp makes up approx 0.07% of Bogle Investment Management L P De’s portfolio. Commonwealth Equity Services Inc added THC to its portfolio by purchasing 8,392 company shares during the most recent quarter which is valued at $230,612.New Jersey Better Educational Savings Trust reduced its stake in THC by selling 2,000 shares or 8.33% in the most recent quarter. The Hedge Fund company now holds 22,000 shares of THC which is valued at $612,260. Tenet Healthcare Corp makes up approx 0.39% of New Jersey Better Educational Savings Trust’s portfolio. Mitsubishi Ufj Kokusai Asset Management Ltd. sold out all of its stake in THC during the most recent quarter. The investment firm sold 870 shares of THC which is valued $24,212.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.

Tenet Healthcare Corp opened for trading at $23.2 and hit $24.37 on the upside on Monday, eventually ending the session at $23.99, with a gain of 3.32% or 0.77 points. The heightened volatility saw the trading volume jump to 14,57,855 shares. Company has a market cap of $2,387 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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