Tenet Healthcare (NYSE:THC) updated its FY 2021 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 4.120-5.460 for the period, compared to the Thomson Reuters consensus estimate of $4.180. The company issued revenue guidance of $19.40 billion-$19.80 billion, compared to the consensus revenue estimate of $19.40 billion.Tenet Healthcare also updated its Q2 2021 guidance to 0.690-1.390 EPS.
A number of research firms have weighed in on THC. Citigroup boosted their target price on shares of Tenet Healthcare from $58.00 to $65.00 in a research note on Thursday, April 22nd. The Goldman Sachs Group initiated coverage on Tenet Healthcare in a report on Monday. They issued a buy rating for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on Tenet Healthcare from $58.00 to $65.00 in a report on Thursday, April 22nd. Bank of America upgraded shares of Tenet Healthcare from a neutral rating to a buy rating and raised their price objective for the company from $45.00 to $50.00 in a report on Tuesday, January 5th. Finally, Barclays boosted their target price on shares of Tenet Healthcare from $55.00 to $62.00 in a report on Friday, April 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Tenet Healthcare presently has a consensus rating of Buy and a consensus target price of $51.58.
Tenet Healthcare stock traded up $1.00 during midday trading on Tuesday, reaching $63.30. The stock had a trading volume of 25,469 shares, compared to its average volume of 1,086,214. The company has a current ratio of 1.34, a quick ratio of 1.28 and a debt-to-equity ratio of 29.81. Tenet Healthcare has a 12 month low of $15.19 and a 12 month high of $63.13. The company has a fifty day moving average price of $53.83 and a two-hundred day moving average price of $44.28. The company has a market capitalization of $6.74 billion, a P/E ratio of -486.92, a PEG ratio of 8.49 and a beta of 2.66.
In related news, CFO Daniel J. Cancelmi sold 70,700 shares of Tenet Healthcare 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 in the company, valued at approximately $22,691,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Glenview Capital Management, L sold 122,090 shares of the stock in a transaction on Wednesday, April 21st. The stock was sold at an average price of $55.32, for a total value of $6,754,018.80. The disclosure for this sale can be found here. Insiders sold 2,836,392 shares of company stock valued at $151,959,533 in the last quarter. Corporate insiders own 1.70% of the company’s stock.
Tenet Healthcare Company Profile
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.
Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.