Tenet Healthcare (NYSE:THC) Posts Earnings Results, Beats Estimates By $1.77 EPS

Tenet Healthcare (NYSE:THC) issued its quarterly 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 return on equity of 26.34% and a net margin of 2.97%. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the previous year, the business posted $1.42 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis.

Tenet Healthcare Trading Up 2.6 %

THC traded up $2.95 during mid-day trading on Wednesday, hitting $115.24. The stock had a trading volume of 412,618 shares, compared to its average volume of 1,158,366. 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 $115.62. The stock’s fifty day simple moving average is $98.38 and its 200-day simple moving average is $81.03. The firm has a market capitalization of $11.43 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 3.18 and a beta of 2.08.

Analyst Upgrades and Downgrades

Several research firms have issued reports on THC. Truist Financial restated a “buy” rating and issued a $130.00 price target (up from $120.00) on shares of Tenet Healthcare in a research report on Wednesday. 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 research note on Friday, April 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $104.00 price objective on shares of Tenet Healthcare in a report on Wednesday, April 10th. Wells Fargo & Company increased their target price on Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada lifted their price target on shares of Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a report on Friday, February 9th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare has a consensus rating of “Buy” and an average price target of $105.88.

Insider Buying and Selling

In related news, Director Richard W. Fisher sold 2,100 shares of the firm’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 sale, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of Tenet Healthcare stock in a transaction 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 sale, the executive vice president now directly owns 8,148 shares in the company, valued at approximately $772,756.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the transaction, the director now owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,268 shares of company stock valued at $4,944,810. 0.93% of the stock is owned by company insiders.

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.