Tenet Healthcare (NYSE:THC) announced its quarterly earnings data on Monday. The company reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.50, MarketWatch Earnings reports. The business had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.73 billion. Tenet Healthcare had a negative net margin of 0.07% and a positive return on equity of 82.39%. During the same quarter last year, the firm earned $1.28 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year.
Shares of Tenet Healthcare stock traded up $2.43 on Wednesday, reaching $54.45. The stock had a trading volume of 52,092 shares, compared to its average volume of 999,571. Tenet Healthcare has a 1 year low of $15.19 and a 1 year high of $57.88. The company has a 50 day moving average price of $53.16 and a 200 day moving average price of $42.39. The company has a quick ratio of 1.28, a current ratio of 1.34 and a debt-to-equity ratio of 29.81. The stock has a market capitalization of $5.80 billion, a P/E ratio of -417.54, a P/E/G ratio of 8.49 and a beta of 2.66.
In other Tenet Healthcare news, CFO Daniel J. Cancelmi sold 70,700 shares of the business’s stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $56.80, for a total transaction of $4,015,760.00. Following the sale, the chief financial officer now owns 399,500 shares of the company’s stock, valued at approximately $22,691,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel J. Cancelmi sold 143,602 shares of the business’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $55.29, for a total transaction of $7,939,754.58. Following the sale, the chief financial officer now directly owns 399,500 shares in the company, valued at $22,088,355. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,714,302 shares of company stock valued at $145,205,515. 1.70% of the stock is owned by insiders.
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.
Further Reading: What is the Quick Ratio?
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