Tenet Healthcare (NYSE:THC – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 8.370-9.410 for the period. The company issued revenue guidance of $20.0 billion-$20.4 billion. Tenet Healthcare also updated its FY24 guidance to $8.37-$9.41 EPS.
Tenet Healthcare Stock Up 2.4 %
NYSE THC traded up $2.77 during mid-day trading on Thursday, reaching $118.72. The stock had a trading volume of 1,441,743 shares, compared to its average volume of 1,195,278. Tenet Healthcare has a 1 year low of $51.04 and a 1 year high of $120.03. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.42. The company has a fifty day moving average price of $99.29 and a 200 day moving average price of $81.68. The stock has a market cap of $11.78 billion, a PE ratio of 4.61, a price-to-earnings-growth ratio of 2.55 and a beta of 2.09.
Tenet Healthcare (NYSE:THC – Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $1.77. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. Tenet Healthcare’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.42 EPS. On average, research analysts expect that Tenet Healthcare will post 8.89 earnings per share for the current year.
Analyst Upgrades and Downgrades
View Our Latest Analysis on Tenet Healthcare
Insider Activity at Tenet Healthcare
In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of Tenet Healthcare 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 sale, the executive vice president now directly owns 8,148 shares in the company, valued at approximately $772,756.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the sale, the executive vice president now directly owns 29,803 shares in the company, valued at approximately $2,889,698.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas W. Arnst sold 17,000 shares of the firm’s stock in a transaction dated 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. In the last three months, insiders sold 51,268 shares of company stock valued at $4,944,810. Corporate insiders own 0.93% of the company’s stock.
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.
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