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

Tenet Healthcare (NYSE:THC) posted its 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 net margin of 12.53% and a return on equity of 26.76%. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same period last year, the company posted $1.42 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year.

Tenet Healthcare Stock Up 3.3 %

THC opened at $115.94 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. The firm has a 50 day moving average price of $98.80 and a 200-day moving average price of $81.44. Tenet Healthcare has a twelve month low of $51.04 and a twelve month high of $120.03. The stock has a market capitalization of $11.50 billion, a price-to-earnings ratio of 4.50, a PEG ratio of 2.55 and a beta of 2.09.

Insider Activity

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of the company’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 transaction of $1,612,280.00. Following the completion of the sale, the executive vice president now directly owns 8,148 shares of the company’s stock, valued at $772,756.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction that occurred on 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 directly owns 20,127 shares in the company, valued at $1,775,402.67. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thomas W. Arnst sold 17,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $94.84, for a total transaction 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 $772,756.32. The disclosure for this sale can be found here. Insiders sold 51,268 shares of company stock valued at $4,944,810 over the last three months. Insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

THC has been the subject of several research analyst reports. Mizuho reaffirmed a “buy” rating and issued a $130.00 target price (up from $118.00) 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 company a “buy” rating in a research report on Friday, April 12th. TheStreet raised shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Wells Fargo & Company lifted their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $104.00 price target on shares of Tenet Healthcare in a research report on Wednesday, April 10th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tenet Healthcare presently 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.