Tenet Healthcare (NYSE:THC – Get Rating) is scheduled to be announcing its earnings results after the market closes on Wednesday, April 20th. Analysts expect the company to announce earnings of $1.08 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.
Tenet Healthcare (NYSE:THC – Get Rating) last released its earnings results on Monday, February 7th. The company reported $2.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $1.14. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $5.01 billion. Tenet Healthcare had a net margin of 4.69% and a return on equity of 56.04%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the business earned $1.56 earnings per share. On average, analysts expect Tenet Healthcare to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.
Shares of THC opened at $84.76 on Wednesday. The company has a market capitalization of $9.10 billion, a P/E ratio of 10.07, a P/E/G ratio of 4.88 and a beta of 2.42. The company has a quick ratio of 1.31, a current ratio of 1.38 and a debt-to-equity ratio of 7.55. The firm’s 50 day moving average price is $84.75. Tenet Healthcare has a twelve month low of $50.38 and a twelve month high of $92.65.
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In other news, Director Richard J. Mark sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 9th. The shares were sold at an average price of $90.47, for a total value of $542,820.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Ronald A. Rittenmeyer sold 59,851 shares of the business’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $90.12, for a total transaction of $5,393,772.12. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Morgan Stanley grew its stake in Tenet Healthcare by 356.8% in the 2nd quarter. Morgan Stanley now owns 581,666 shares of the company’s stock worth $38,965,000 after acquiring an additional 454,329 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Tenet Healthcare by 28.9% in the 4th quarter. Allianz Asset Management GmbH now owns 795,844 shares of the company’s stock worth $65,013,000 after acquiring an additional 178,273 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in Tenet Healthcare by 49.9% in the 4th quarter. Cubist Systematic Strategies LLC now owns 27,338 shares of the company’s stock worth $2,233,000 after acquiring an additional 9,103 shares in the last quarter. LPL Financial LLC grew its stake in Tenet Healthcare by 138.4% in the 4th quarter. LPL Financial LLC now owns 14,978 shares of the company’s stock worth $1,224,000 after acquiring an additional 8,695 shares in the last quarter. Finally, Qtron Investments LLC bought a new position in shares of Tenet Healthcare during the fourth quarter valued at approximately $462,000. Institutional investors own 94.38% of the company’s stock.
THC has been the subject of several analyst reports. Jefferies Financial Group raised their price target on shares of Tenet Healthcare from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, March 7th. SVB Leerink raised shares of Tenet Healthcare from a “market perform” rating to an “outperform” rating and raised their price target for the company from $88.00 to $100.00 in a research report on Wednesday, February 9th. The Goldman Sachs Group reissued a “buy” rating on shares of Tenet Healthcare in a research report on Tuesday, March 1st. StockNews.com initiated coverage on shares of Tenet Healthcare in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Wells Fargo & Company initiated coverage on shares of Tenet Healthcare in a research report on Monday, March 28th. They set an “overweight” rating and a $100.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $97.00.
About Tenet Healthcare (Get Rating)
Tenet Healthcare Corp. engages in the provision of health care services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment consists of acute care hospitals, ancillary outpatient facilities, urgent care centers, microhospitals and physician practices.
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