Tenet Healthcare (NYSE:THC) Posts Quarterly Earnings Results, Beats Estimates By $1.18 EPS

Tenet Healthcare (NYSE:THC - Get Free Report) released its earnings results on Tuesday. The company reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $1.18, Zacks reports. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. During the same period in the prior year, the business posted $2.31 EPS. The business's revenue was up 3.2% compared to the same quarter last year. Tenet Healthcare updated its FY 2025 guidance to 15.550-16.210 EPS.

Tenet Healthcare Stock Down 0.2%

THC stock opened at $174.72 on Tuesday. The company has a market cap of $16.23 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.35 and a beta of 1.64. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.23. Tenet Healthcare has a 12 month low of $109.82 and a 12 month high of $179.91. The firm has a 50-day moving average of $168.41 and a two-hundred day moving average of $144.34.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on THC shares. Truist Financial upped their target price on Tenet Healthcare from $190.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group upped their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Baird R W lowered shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Wall Street Zen lowered shares of Tenet Healthcare from a "buy" rating to a "hold" rating in a report on Friday. Finally, Guggenheim assumed coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $185.41.

Insider Buying and Selling

In other news, EVP Thomas W. Arnst sold 9,786 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $166.00, for a total transaction of $1,624,476.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director J Robert Kerrey sold 1,222 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $164.96, for a total transaction of $201,581.12. Following the sale, the director owned 22,377 shares of the company's stock, valued at $3,691,309.92. This represents a 5.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,121 shares of company stock worth $8,846,305 in the last 90 days. Corporate insiders own 0.81% of the company's stock.

Hedge Funds Weigh In On Tenet Healthcare

A hedge fund recently raised its stake in Tenet Healthcare stock. Jones Financial Companies Lllp boosted its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 299.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,700 shares of the company's stock after acquiring an additional 1,274 shares during the period. Jones Financial Companies Lllp's holdings in Tenet Healthcare were worth $229,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 95.44% of the company's stock.

About Tenet Healthcare

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.