Tenet Healthcare (NYSE:THC) updated its first quarter earnings guidance on Monday. The company provided earnings per share guidance of ($0.10)-$0.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.05. The company issued revenue guidance of $4.45-$4.65 billion, compared to the consensus revenue estimate of $4.66 billion.Tenet Healthcare also updated its FY18 guidance to $0.73-$1.07 EPS.
Several research firms recently commented on THC. Wells Fargo & Co assumed coverage on Tenet Healthcare in a research note on Tuesday, January 30th. They issued a market perform rating and a $20.00 price target on the stock. Zacks Investment Research cut Tenet Healthcare from a hold rating to a sell rating in a research note on Saturday, January 20th. Goldman Sachs Group assumed coverage on Tenet Healthcare in a research note on Wednesday, January 3rd. They set a neutral rating and a $15.00 price objective on the stock. ValuEngine cut Tenet Healthcare from a hold rating to a sell rating in a research note on Sunday, December 31st. Finally, Leerink Swann restated a buy rating and set a $27.00 price objective on shares of Tenet Healthcare in a research note on Wednesday, December 20th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $18.36.
Tenet Healthcare (NYSE THC) traded down $0.21 during trading hours on Monday, hitting $19.07. The stock had a trading volume of 1,644,612 shares, compared to its average volume of 2,303,752. The company has a market capitalization of $1,946.06, a price-to-earnings ratio of -3.45, a PEG ratio of 3.63 and a beta of 1.24. Tenet Healthcare has a 52 week low of $12.25 and a 52 week high of $22.72. The company has a debt-to-equity ratio of 21.21, a current ratio of 1.28 and a quick ratio of 1.21.
In related news, Director George Fredrick Smitherman bought 125,000 shares of the stock in a transaction dated Thursday, January 25th. The stock was bought at an average cost of $38.50 per share, with a total value of $4,812,500.00. Insiders have sold 54,600 shares of company stock valued at $94,146 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.
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Tenet Healthcare Company Profile
Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.
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