Tenet Healthcare (NYSE:THC) issued an update on its second quarter 2021 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.690-1.390 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.810. The company issued revenue guidance of $4.65 billion-$4.85 billion, compared to the consensus revenue estimate of $4.69 billion.Tenet Healthcare also updated its FY 2021 guidance to 4.120-5.460 EPS.
A number of equities research analysts have commented on THC shares. UBS Group lifted their target price on shares of Tenet Healthcare from $37.00 to $60.00 and gave the stock a buy rating in a research report on Thursday, January 21st. Citigroup upped their price target on shares of Tenet Healthcare from $58.00 to $65.00 in a research report on Thursday, April 22nd. Bank of America upgraded Tenet Healthcare from a neutral rating to a buy rating and boosted their price objective for the company from $45.00 to $50.00 in a research note on Tuesday, January 5th. Mizuho increased their price target on Tenet Healthcare from $48.00 to $55.00 and gave the stock a buy rating in a research note on Friday, April 9th. Finally, Royal Bank of Canada boosted their price target on shares of Tenet Healthcare from $57.00 to $66.00 and gave the stock an outperform rating in a research note on Thursday, April 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $51.58.
NYSE:THC traded up $1.00 during trading hours on Tuesday, hitting $63.30. 25,469 shares of the stock were exchanged, compared to its average volume of 1,086,214. The company has a market cap of $6.74 billion, a P/E ratio of -487.85, a P/E/G ratio of 8.49 and a beta of 2.66. The firm’s fifty day moving average price is $53.83 and its 200 day moving average price is $44.28. Tenet Healthcare has a 52-week low of $15.19 and a 52-week high of $63.13. The company has a current ratio of 1.34, a quick ratio of 1.28 and a debt-to-equity ratio of 29.81.
In related news, CFO Daniel J. Cancelmi sold 70,700 shares of the company’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $56.80, for a total value of $4,015,760.00. Following the completion of the sale, the chief financial officer now owns 399,500 shares in the company, valued at approximately $22,691,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Glenview Capital Management, L sold 2,500,000 shares of the company’s stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $53.30, for a total value of $133,250,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,836,392 shares of company stock valued at $151,959,533 over the last 90 days. 1.70% of the stock is currently 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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