Tenet Healthcare (NYSE:THC) posted its earnings results on Tuesday. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.52, MarketWatch Earnings reports. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.78 billion. Tenet Healthcare had a net margin of 2.25% and a return on equity of 65.38%. The firm’s revenue for the quarter was up 35.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 EPS.
Shares of THC opened at $70.00 on Thursday. The company has a market cap of $7.48 billion, a P/E ratio of 19.37 and a beta of 2.61. Tenet Healthcare has a 52-week low of $21.34 and a 52-week high of $73.65. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 14.86. The company has a fifty day simple moving average of $66.97.
In other Tenet Healthcare news, EVP Howard Hacker sold 6,382 shares of the business’s stock in a transaction dated Friday, May 28th. The stock was sold at an average price of $66.70, for a total value of $425,679.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R. Scott Ramsey sold 8,662 shares of the business’s stock in a transaction dated Friday, May 14th. The shares were sold at an average price of $64.04, for a total value of $554,714.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,197 shares of company stock valued at $1,371,540. 1.60% of the stock is currently owned by corporate 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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