Tenet Healthcare (NYSE:THC) issued an update on its third quarter 2021 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.730-$1.060 for the period, compared to the Thomson Reuters consensus estimate of $1.060. The company issued revenue guidance of $4.60 billion-$4.80 billion, compared to the consensus revenue estimate of $4.88 billion.Tenet Healthcare also updated its FY 2021 guidance to $5.230-$5.730 EPS.
Shares of THC traded down $3.40 during midday trading on Thursday, reaching $68.85. 76,276 shares of the stock were exchanged, compared to its average volume of 910,219. Tenet Healthcare has a 12-month low of $21.34 and a 12-month high of $73.65. The business has a 50 day simple moving average of $66.97. The company has a debt-to-equity ratio of 14.86, a quick ratio of 1.28 and a current ratio of 1.36. The firm has a market cap of $7.35 billion, a P/E ratio of 19.37 and a beta of 2.61.
Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, July 20th. The company reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.52. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.78 billion. Tenet Healthcare had a return on equity of 65.38% and a net margin of 2.25%. The business’s quarterly revenue was up 35.8% on a year-over-year basis. During the same period last year, the business earned $1.26 EPS. As a group, sell-side analysts predict that Tenet Healthcare will post 5.21 earnings per share for the current year.
In related news, EVP Howard Hacker sold 6,382 shares of the company’s stock in a transaction dated Friday, May 28th. The stock was sold at an average price of $66.70, for a total transaction of $425,679.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Meghan Fitzgerald sold 6,153 shares of the company’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $63.57, for a total value of $391,146.21. Following the sale, the director now owns 33,828 shares in the company, valued at approximately $2,150,445.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,197 shares of company stock valued at $1,371,540. Insiders own 1.60% of the company’s stock.
About Tenet Healthcare
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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