Tenet Healthcare (NYSE:THC) posted its earnings results on Tuesday. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $1.07 by $0.52, MarketWatch Earnings reports. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.78 billion. Tenet Healthcare had a net margin of 2.25% and a return on equity of 65.38%. The firm's revenue for the quarter was up 35.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 EPS.
Shares of THC opened at $70.00 on Thursday. The company has a market cap of $7.48 billion, a P/E ratio of 19.37 and a beta of 2.61. Tenet Healthcare has a 52-week low of $21.34 and a 52-week high of $73.65. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 14.86. The company has a fifty day simple moving average of $66.97.
In other Tenet Healthcare news, EVP Howard Hacker sold 6,382 shares of the business's stock in a transaction dated Friday, May 28th. The stock was sold at an average price of $66.70, for a total value of $425,679.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R. Scott Ramsey sold 8,662 shares of the business's stock in a transaction dated Friday, May 14th. The shares were sold at an average price of $64.04, for a total value of $554,714.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,197 shares of company stock valued at $1,371,540. 1.60% of the stock is currently owned by corporate insiders.
THC has been the subject of several recent analyst reports. lifted their price objective on shares of Tenet Healthcare from $58.00 to $65.00 in a research report on Thursday, April 22nd. Barclays lifted their target price on Tenet Healthcare from $55.00 to $62.00 in a research note on Friday, April 23rd. Zacks Investment Research downgraded Tenet Healthcare from a "buy" rating to a "hold" rating and set a $72.00 price target on the stock. in a research note on Tuesday, June 22nd. Mizuho lifted their price objective on Tenet Healthcare from $55.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday, May 5th. Finally, Seaport Global Securities started coverage on Tenet Healthcare in a report on Friday, July 9th. They issued a "buy" rating and a $80.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. Tenet Healthcare presently has a consensus rating of "Buy" and an average target price of $57.50.
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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