Tenet Healthcare Corp (THC) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $0.45 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.11. Analysts had a consensus of $0.34. The company posted revenue of $5044.00 million in the period, compared to analysts expectations of $4793.79 million. The company’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.
Many Wall Street Analysts have commented on Tenet Healthcare Corp. Tenet Healthcare Corp was Upgraded by Susquehanna to ” Positive” on Apr 13, 2016. Company shares were Reiterated by Mizuho on Mar 16, 2016 to “Buy”, Firm has raised the Price Target to $ 33 from a previous price target of $30 .Shares were Reiterated by RBC Capital Mkts on Mar 7, 2016 to “Sector Perform” and Lowered the Price Target to $ 30 from a previous price target of $37 .
Tenet Healthcare Corp opened for trading at $32.65 and hit $33.06 on the upside on Wednesday, eventually ending the session at $32.61, with a gain of 0.06% or 0.02 points. The heightened volatility saw the trading volume jump to 14,05,747 shares. Company has a market cap of $3,213 M.
In a different news, on Jul 15, 2015, Trevor Fetter (Chairman and CEO) sold 184,481 shares at $60.25 per share price. According to the SEC, on Jun 5, 2015, R. Scott Ramsey (Principal Accounting Officer) sold 5,650 shares at $51.64 per share price. On Mar 5, 2015, Audrey T. Andrews (SVP and General Counsel) sold 4,396 shares at $46.59 per share price, according to the Form-4 filing with the securities and exchange commission.
Tenet Healthcare Corporation is a healthcare services company. The Company operates regionally focused integrated healthcare delivery networks in large urban and suburban markets. As of December 31 2014 it operated 80 hospitals 210 outpatient centers six health plans and Conifer Health Solutions LLC (Conifer) which provides healthcare business process services in the areas of revenue cycle management value-based care and patient communications. It provides operational management for revenue cycle functions including patient access health information management revenue integrity and patient financial services. It also offers communications and engagement solutions to optimize the relationship between providers and patients. Conifer operates a management services business that supports value-based performance through clinical integration financial risk management and population health management. It has two operating segments: Hospital Operations and other and Conifer.