Tenet Healthcare (NYSE:THC – Get Free Report) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.160-2.580 for the period, compared to the consensus earnings per share estimate of 1.670. The company issued revenue guidance of $5.0 billion-$5.1 billion, compared to the consensus revenue estimate of $4.9 billion. Tenet Healthcare also updated its FY 2024 guidance to 10.410-11.120 EPS.
Tenet Healthcare Stock Up 2.6 %
NYSE THC traded up $3.77 on Thursday, reaching $149.11. The company had a trading volume of 1,715,086 shares, compared to its average volume of 1,227,057. The company’s fifty day moving average is $134.07 and its 200-day moving average is $109.95. Tenet Healthcare has a 1-year low of $51.04 and a 1-year high of $151.00. The firm has a market capitalization of $14.57 billion, a price-to-earnings ratio of 5.80, a price-to-earnings-growth ratio of 1.25 and a beta of 2.15. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.37 and a current ratio of 1.44.
Tenet Healthcare (NYSE:THC – Get Free Report) last released its earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $1.45 by $1.77. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.42 EPS. On average, research analysts forecast that Tenet Healthcare will post 8.87 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on Tenet Healthcare
Insider Buying and Selling at Tenet Healthcare
In related news, Director Christopher S. Lynch sold 10,861 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the sale, the director now owns 14,759 shares in the company, valued at approximately $1,975,196.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total transaction of $945,982.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Christopher S. Lynch sold 10,861 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the completion of the transaction, the director now directly owns 14,759 shares of the company’s stock, valued at approximately $1,975,196.97. The disclosure for this sale can be found here. Insiders have sold a total of 24,691 shares of company stock valued at $3,117,909 in the last ninety days. 0.93% of the stock is currently owned by company insiders.
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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