Tenet Healthcare (NYSE:THC – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.580-1.980 for the period. The company issued revenue guidance of $4.9 billion-$5.1 billion. Tenet Healthcare also updated its FY 2024 guidance to 8.370-9.410 EPS.
Tenet Healthcare Stock Up 13.3 %
Shares of Tenet Healthcare stock traded up $13.14 during trading hours on Tuesday, reaching $112.29. The company’s stock had a trading volume of 3,753,077 shares, compared to its average volume of 1,157,911. The stock’s fifty day simple moving average is $98.38 and its two-hundred day simple moving average is $81.03. The company has a market capitalization of $11.14 billion, a P/E ratio of 19.47, a P/E/G ratio of 3.08 and a beta of 2.08. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.42 and a current ratio of 1.51. Tenet Healthcare has a one year low of $51.04 and a one year high of $112.30.
Tenet Healthcare (NYSE:THC – Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. The business had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.28 billion. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.96 earnings per share. On average, research analysts forecast that Tenet Healthcare will post 6.3 earnings per share for the current year.
Wall Street Analyst Weigh In
Get Our Latest Analysis on THC
Insider Buying and Selling
In related news, EVP Thomas W. Arnst sold 17,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the completion of the transaction, the executive vice president now owns 8,148 shares in the company, valued at approximately $772,756.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the sale, the director now owns 20,127 shares in the company, valued at $1,775,402.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas W. Arnst sold 17,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the sale, the executive vice president now directly owns 8,148 shares in the company, valued at $772,756.32. The disclosure for this sale can be found here. Insiders sold a total of 51,268 shares of company stock worth $4,944,810 in the last 90 days. 0.93% of the stock is owned by corporate insiders.
Tenet Healthcare Company Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
Further Reading
- Five stocks we like better than Tenet Healthcare
- What is a buyback in stocks? A comprehensive guide for investors
- NXP Semiconductors Will Set a New High Soon: $300 in Sight
- Insider Selling Explained: Can it Inform Your Investing Choices?
- Hilton Demonstrates Asset Light is Right for Investors
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- Boston Scientific Bucks the Medtech Slow Down and Raises Outlook
Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.