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.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in Tenet Healthcare right now?
Before you consider Tenet Healthcare, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Tenet Healthcare wasn’t on the list.
While Tenet Healthcare currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here