Tenet Healthcare (NYSE:THC) Announces Earnings Results, Beats Expectations By $1.77 EPS

Tenet Healthcare (NYSE:THC - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $3.22 EPS for the quarter, beating 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 company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same quarter last year, the business earned $1.42 earnings per share. Tenet Healthcare's revenue was up 6.9% compared to the same quarter last year.

Tenet Healthcare Trading Up 3.3 %

Tenet Healthcare stock traded up $3.65 during midday trading on Wednesday, reaching $115.94. The stock had a trading volume of 3,242,452 shares, compared to its average volume of 1,193,417. The firm's fifty day simple moving average is $98.80 and its two-hundred day simple moving average is $81.44. Tenet Healthcare has a twelve month low of $51.04 and a twelve month high of $120.03. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. The firm has a market cap of $11.50 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 3.18 and a beta of 2.08.

Insider Buying and Selling

In related news, EVP Thomas W. Arnst sold 17,000 shares of the firm'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 value of $1,612,280.00. Following the completion of the transaction, the executive vice president now owns 8,148 shares of the company's stock, valued at approximately $772,756.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other 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 transaction, the director now directly owns 33,303 shares of the company's stock, valued at $3,296,330.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas W. Arnst sold 17,000 shares of the company's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $94.84, for a total value of $1,612,280.00. Following the completion of the transaction, 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. In the last 90 days, insiders sold 51,268 shares of company stock valued at $4,944,810. Company insiders own 0.93% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on THC shares. UBS Group raised their price target on shares of Tenet Healthcare from $137.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday. TheStreet upgraded shares of Tenet Healthcare from a "c+" rating to a "b-" rating in a research note on Tuesday, February 6th. Wolfe Research upgraded shares of Tenet Healthcare from a "peer perform" rating to an "outperform" rating and set a $122.00 price objective on the stock in a research note on Wednesday, March 27th. Wells Fargo & Company raised their price objective on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, March 28th. Finally, Stephens raised their price objective on shares of Tenet Healthcare from $95.00 to $122.00 and gave the company an "equal weight" rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tenet Healthcare has a consensus rating of "Buy" and a consensus target price of $111.06.

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.