Tenet Healthcare Corp: Larry Robbins’s Glenview Capital Management Makes Purchase

September 13, 2017 - By Marie Mckinney

 Tenet Healthcare Corp: Larry Robbins's Glenview Capital Management Makes Purchase

Investors sentiment increased to 0.96 in 2016 Q4. 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.

Welch Partners Limited Liability Company New York has 0.82% invested in Tenet Healthcare Corp (NYSE:THC) for 163,990 shares. Gsa Cap Limited Liability Partnership, a United Kingdom-based fund reported 13,878 shares. Prudential Finance Incorporated has 0% invested in Tenet Healthcare Corp (NYSE:THC). Dimensional Fund Advsr Lp accumulated 1.59 million shares. Nj State Employees Deferred Compensation Plan holds 0.25% in Tenet Healthcare Corp (NYSE:THC) or 85,000 shares. Rhumbline Advisers reported 0.01% in Tenet Healthcare Corp (NYSE:THC). Continental Advisors Llc reported 0.52% stake. 3,416 are owned by Zurcher Kantonalbank (Zurich Cantonalbank). Oregon Employees Retirement Fund reported 27,511 shares stake. Moreover, Quantitative Invest Management Ltd Llc has 0.04% invested in Tenet Healthcare Corp (NYSE:THC). 324,697 are owned by Credit Suisse Ag. Citigroup reported 74,309 shares stake. 3.49M are held by Blackrock Fund. Creative Planning invested in 5,237 shares or 0% of the stock. Brinker Cap holds 0.02% or 23,245 shares in its 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 decreased 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 7.72M 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 stock of Tenet Healthcare Corp (NYSE:THC) earned “Neutral” rating by Citigroup on Friday, October 2. Piper Jaffray initiated the shares of THC in report on Wednesday, January 4 with “Neutral” rating. The firm has “Neutral” rating given on Wednesday, October 5 by Mizuho. Mizuho maintained it with “Neutral” rating and $34 target in Wednesday, December 2 report. The firm has “Outperform” rating given on Friday, September 4 by BMO Capital Markets. The stock of Tenet Healthcare Corp (NYSE:THC) has “Buy” rating given on Thursday, August 10 by Deutsche Bank. Credit Suisse initiated the shares of THC in report on Wednesday, December 16 with “Neutral” rating. RBC Capital Markets maintained the stock with “Hold” rating in Monday, June 12 report. Jefferies maintained the stock with “Buy” rating in Tuesday, August 8 report. The firm has “Neutral” rating given on Thursday, March 24 by Credit Suisse.

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

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