Tipp Hill Capital Management Lowers stake in Tenet Healthcare Corp (THC)

Tenet Healthcare Corp (THC) : Tipp Hill Capital Management reduced its stake in Tenet Healthcare Corp by 82.94% during the most recent quarter end. The investment management company now holds a total of 50,000 shares of Tenet Healthcare Corp which is valued at $1,391,500 after selling 243,000 shares in Tenet Healthcare Corp , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Tenet Healthcare Corp makes up approximately 20.64% of Tipp Hill Capital Management’s portfolio.

Other Hedge Funds, Including , Utah Retirement Systems reduced its stake in THC by selling 3,200 shares or 18.03% in the most recent quarter. The Hedge Fund company now holds 14,547 shares of THC which is valued at $404,843. Tenet Healthcare Corp makes up approx 0.01% of Utah Retirement Systems’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.Next Financial Group Inc boosted its stake in THC in the latest quarter, The investment management firm added 950 additional shares and now holds a total of 7,425 shares of Tenet Healthcare Corp which is valued at $214,434. Tenet Healthcare Corp makes up approx 0.07% of Next Financial Group Inc’s portfolio.

Tenet Healthcare Corp closed down -0.16 points or -0.58% at $27.32 with 18,07,927 shares getting traded on Monday. Post opening the session at $27.58, the shares hit an intraday low of $27.125 and an intraday high of $27.85 and the price fluctuated in this range throughout the day.Shares ended Monday 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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