Tenet Healthcare (NYSE:THC – Get Free Report) is set to post its quarterly earnings results before the market opens on Tuesday, October 29th. Analysts expect Tenet Healthcare to post earnings of $2.33 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.
Tenet Healthcare (NYSE:THC – Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.42. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $4.98 billion. On average, analysts expect Tenet Healthcare to post $11 EPS for the current fiscal year and $11 EPS for the next fiscal year.
Tenet Healthcare Stock Performance
Tenet Healthcare stock opened at $139.77 on Friday. Tenet Healthcare has a 1-year low of $51.04 and a 1-year high of $171.20. The company’s 50-day moving average is $159.85 and its 200 day moving average is $140.50. The firm has a market capitalization of $13.65 billion, a P/E ratio of 5.42, a price-to-earnings-growth ratio of 0.80 and a beta of 2.14. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.45 and a quick ratio of 1.38.
Analyst Upgrades and Downgrades
THC has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Tenet Healthcare from $156.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, July 29th. The Goldman Sachs Group increased their price objective on Tenet Healthcare from $156.00 to $173.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Truist Financial upped their target price on Tenet Healthcare from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, October 14th. KeyCorp began coverage on Tenet Healthcare in a research note on Friday, October 11th. They set an “overweight” rating and a $200.00 price target on the stock. Finally, UBS Group increased their target price on shares of Tenet Healthcare from $180.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare currently has a consensus rating of “Buy” and an average price target of $157.24.
View Our Latest Research Report on Tenet Healthcare
Insider Activity at Tenet Healthcare
In related news, insider R. Scott Ramsey sold 11,599 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the sale, the insider now owns 6,324 shares of the company’s stock, valued at $1,024,867.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the transaction, the insider now owns 6,324 shares in the company, valued at approximately $1,024,867.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard W. Fisher sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total transaction of $327,340.00. Following the transaction, the director now owns 14,227 shares in the company, valued at $2,328,533.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 128,203 shares of company stock valued at $19,754,997 over the last 90 days. Insiders own 0.93% 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.
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