Tenet Healthcare (THC) to Release Earnings on Tuesday

Tenet Healthcare (NYSE:THC) is set to issue its quarterly earnings data before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $2.33 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Tenet Healthcare Stock Performance

Shares of THC opened at $139.77 on Monday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.38 and a current ratio of 1.45. The stock has a 50-day moving average of $159.85 and a two-hundred day moving average of $140.77. The stock has a market cap of $13.65 billion, a P/E ratio of 5.42, a P/E/G ratio of 0.80 and a beta of 2.14. Tenet Healthcare has a one year low of $51.04 and a one year high of $171.20.

Tenet Healthcare announced that its board has approved a share buyback program on Wednesday, July 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to buy up to 10.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Richard W. Fisher sold 2,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total value of $327,340.00. Following the completion of the transaction, the director now directly owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Richard W. Fisher sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total transaction of $327,340.00. Following the completion of the sale, the director now owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paola M. Arbour sold 8,377 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $156.00, for a total value of $1,306,812.00. Following the transaction, the executive vice president now owns 21,426 shares in the company, valued at approximately $3,342,456. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,203 shares of company stock worth $19,754,997 over the last quarter. 0.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

THC has been the topic of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $168.00 price target on shares of Tenet Healthcare in a report on Tuesday, October 1st. Barclays raised their target price on shares of Tenet Healthcare from $156.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. KeyCorp began coverage on Tenet Healthcare in a research report on Friday, October 11th. They set an “overweight” rating and a $200.00 price target on the stock. Wells Fargo & Company upped their target price on Tenet Healthcare from $175.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Raymond James boosted their price target on Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $157.24.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.