Tenet Healthcare (NYSE:THC) Issues Earnings Results

Tenet Healthcare (NYSE:THC) announced its earnings results on Tuesday. The company reported $1.59 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.52, MarketWatch Earnings reports. Tenet Healthcare had a net margin of 2.25% and a return on equity of 65.38%. The business had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the company earned $1.26 earnings per share. The firm’s revenue was up 35.8% on a year-over-year basis.

THC stock traded down $3.20 during trading on Thursday, hitting $69.05. 73,048 shares of the company’s stock traded hands, compared to its average volume of 910,219. Tenet Healthcare has a 52 week low of $21.34 and a 52 week high of $73.65. The company has a debt-to-equity ratio of 14.86, a current ratio of 1.36 and a quick ratio of 1.28. The firm has a fifty day simple moving average of $66.97. The firm has a market capitalization of $7.37 billion, a PE ratio of 19.37 and a beta of 2.61.

A number of analysts have commented on THC shares. Credit Suisse Group upped their target price on shares of Tenet Healthcare from $58.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, April 22nd. Zacks Investment Research cut shares of Tenet Healthcare from a “buy” rating to a “hold” rating and set a $72.00 target price for the company. in a report on Tuesday, June 22nd. Seaport Global Securities started coverage on shares of Tenet Healthcare in a research note on Friday, July 9th. They issued a “buy” rating and a $80.00 price objective for the company. Barclays increased their price objective on shares of Tenet Healthcare from $55.00 to $62.00 in a research note on Friday, April 23rd. Finally, Citigroup increased their price objective on shares of Tenet Healthcare from $58.00 to $65.00 in a research note on Thursday, April 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $57.50.

In other Tenet Healthcare news, insider R. Scott Ramsey sold 8,662 shares of the stock in a transaction on Friday, May 14th. The shares were sold at an average price of $64.04, for a total transaction of $554,714.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Meghan Fitzgerald sold 6,153 shares of the stock in a transaction on Monday, May 24th. The shares were sold at an average price of $63.57, for a total transaction of $391,146.21. Following the transaction, the director now owns 33,828 shares of the company’s stock, valued at approximately $2,150,445.96. The disclosure for this sale can be found here. Insiders have sold 21,197 shares of company stock valued at $1,371,540 in the last quarter. 1.60% of the stock is owned by company insiders.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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Earnings History for Tenet Healthcare (NYSE:THC)

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