Qvt Financial Lp buys $20,548,487 stake in Tenet Healthcare Corp (THC)

Tenet Healthcare Corp (THC) : Qvt Financial Lp scooped up 36,303 additional shares in Tenet Healthcare Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 805,823 shares of Tenet Healthcare Corp which is valued at $20,548,487.Tenet Healthcare Corp makes up approximately 2.73% of Qvt Financial Lp’s portfolio.

Other Hedge Funds, Including , Qs Investors reduced its stake in THC by selling 1,368 shares or 46.88% in the most recent quarter. The Hedge Fund company now holds 1,550 shares of THC which is valued at $39,525. Woodmont Investment Counsel sold out all of its stake in THC during the most recent quarter. The investment firm sold 50 shares of THC which is valued $1,275. New Mexico Educational Retirement Board sold out all of its stake in THC during the most recent quarter. The investment firm sold 11,290 shares of THC which is valued $314,201.

Tenet Healthcare Corp closed down -0.32 points or -1.34% at $23.58 with 9,79,044 shares getting traded on Thursday. Post opening the session at $23.99, the shares hit an intraday low of $23.31 and an intraday high of $24.09 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.

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