Tenet Healthcare (NYSE:THC) announced its earnings results on Monday. The company reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.50, MarketWatch Earnings reports. The company had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.73 billion. Tenet Healthcare had a negative net margin of 0.07% and a positive return on equity of 82.39%. Tenet Healthcare’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.28 earnings per share.
Shares of Tenet Healthcare stock traded up $2.43 on Wednesday, hitting $54.45. The stock had a trading volume of 52,092 shares, compared to its average volume of 999,571. The stock has a 50 day moving average of $53.16 and a 200 day moving average of $42.39. Tenet Healthcare has a twelve month low of $15.19 and a twelve month high of $57.88. The company has a debt-to-equity ratio of 29.81, a quick ratio of 1.28 and a current ratio of 1.34. The firm has a market capitalization of $5.80 billion, a P/E ratio of -417.54, a PEG ratio of 8.49 and a beta of 2.66.
In other news, major shareholder Glenview Capital Management, L sold 2,500,000 shares of the company’s stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $53.30, for a total value of $133,250,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Daniel J. Cancelmi sold 70,700 shares of the company’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 value of $4,015,760.00. Following the completion of the transaction, the chief financial officer now directly owns 399,500 shares of the company’s stock, valued at approximately $22,691,600. The disclosure for this sale can be found here. Insiders sold 2,714,302 shares of company stock valued at $145,205,515 in the last ninety days. 1.70% of the stock is currently 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.
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