Tenet Healthcare (NYSE:THC) Releases Quarterly Earnings Results, Beats Expectations By $0.52 EPS

Tenet Healthcare (NYSE:THC) released its quarterly earnings data on Tuesday. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.52, MarketWatch Earnings reports. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Tenet Healthcare had a return on equity of 65.38% and a net margin of 2.25%. Tenet Healthcare’s revenue was up 35.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 earnings per share.

NYSE:THC traded down $2.25 during midday trading on Thursday, reaching $70.00. 130,645 shares of the company traded hands, compared to its average volume of 910,219. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 14.86. Tenet Healthcare has a twelve month low of $21.34 and a twelve month high of $73.65. The firm has a fifty day moving average of $66.97. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of 19.37 and a beta of 2.61.

Several research analysts have issued reports on the company. Citigroup increased their price objective on Tenet Healthcare from $58.00 to $65.00 in a research report on Thursday, April 22nd. Seaport Global Securities began coverage on Tenet Healthcare in a research report on Friday, July 9th. They issued a “buy” rating and a $80.00 price target for the company. TheStreet upgraded Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Friday, March 26th. Zacks Investment Research cut Tenet Healthcare from a “buy” rating to a “hold” rating and set a $72.00 price objective for the company. in a research report on Tuesday, June 22nd. Finally, Truist Securities raised their price target on Tenet Healthcare from $56.00 to $60.00 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 given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $57.50.

In other news, EVP Howard Hacker sold 6,382 shares of the company’s stock in a transaction on Friday, May 28th. The stock was sold at an average price of $66.70, for a total value of $425,679.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R. Scott Ramsey sold 8,662 shares of the company’s stock in a transaction on Friday, May 14th. The shares were sold at an average price of $64.04, for a total value of $554,714.48. The disclosure for this sale can be found here. Insiders have sold a total of 21,197 shares of company stock valued at $1,371,540 in the last quarter. 1.60% of the stock is currently owned by insiders.

Tenet Healthcare Company Profile

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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