Tenet Healthcare (NYSE:THC) Issues Earnings Results

Tenet Healthcare (NYSE:THC) posted its earnings results on Tuesday. The company reported $3.22 EPS for the quarter, topping the consensus estimate of $1.45 by $1.77, Briefing.com reports. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter last year, the firm earned $1.42 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year.

Tenet Healthcare Trading Down 2.3 %

Shares of THC stock opened at $109.71 on Wednesday. The company’s fifty day simple moving average is $98.38 and its two-hundred day simple moving average is $81.03. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. Tenet Healthcare has a 1 year low of $51.04 and a 1 year high of $112.30. The stock has a market capitalization of $10.88 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 3.18 and a beta of 2.08.

Insider Buying and Selling at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the transaction, the director now directly owns 20,127 shares in the company, valued at approximately $1,775,402.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Richard J. Mark sold 14,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares in the company, valued at $3,296,330.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the transaction, the director now owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The disclosure for this sale can be found here. Insiders have sold 51,268 shares of company stock valued at $4,944,810 in the last 90 days. 0.93% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on THC. Stephens lifted their target price on shares of Tenet Healthcare from $95.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Royal Bank of Canada lifted their target price on shares of Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Barclays started coverage on shares of Tenet Healthcare in a research report on Wednesday, March 6th. They set an “overweight” rating and a $113.00 target price on the stock. Wolfe Research raised shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target on the stock in a report on Wednesday, March 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a report on Friday, April 12th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tenet Healthcare presently has an average rating of “Buy” and a consensus price target of $104.00.

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.