Dernières nouvelles pour Tenet Healthcare (NYSE:THC) Stock

Tenet Healthcare

Tenet Healthcare is a Dallas-based healthcare services organization. It operates a collection of hospitals (about 50 as of July 2024) and over 500 ambulatory surgery centers and other outpatient facilities across the U.S., primarily in the South. Through its Conifer segment, Tenet also provides revenue cycle management solutions.

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Wells Fargo analyst Stephen Baxter downgrades Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) from Overweight to Equal-Weight and lowers the price target from $205 to $150.

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Wells Fargo Downgrades Tenet Healthcare to Equal-Weight, Lowers Price Target to $150

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Across the recent three months, 13 analysts have shared their insights on Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">4</td>
<td align="right">9</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">3</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Tenet Healthcare and provided 12-month price targets. The average target is $189.54, accompanied by a high estimate of $217.00 and a low estimate of $168.00. Marking an increase of 6.58%, the current average surpasses the previous average price target of $177.83. 
<img src="https://www.benzinga.com/files/images/story/2024/1732287634_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
A clear picture of Tenet Healthcare's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>John Ransom</td>
<td>Raymond James</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$195.00</td>
<td>$195.00</td>
</tr>
<tr>
<td>Andrew Mok</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$190.00</td>
<td>$171.00</td>
</tr>
<tr>
<td>Stephen Baxter</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$205.00</td>
<td>$195.00</td>
</tr>
<tr>
<td>Sarah James</td>
<td>Cantor Fitzgerald</td>
<td>Raises</td>
<td>Overweight</td>
<td>$177.00</td>
<td>$168.00</td>
</tr>
<tr>
<td>Jamie Perse</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$196.00</td>
<td>$173.00</td>
</tr>
<tr>
<td>Ben Hendrix</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$183.00</td>
<td>$174.00</td>
</tr>
<tr>
<td>David Macdonald</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$190.00</td>
<td>$180.00</td>
</tr>
<tr>
<td>A.J. Rice</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$217.00</td>
<td>$197.00</td>
</tr>
<tr>
<td>Stephen Baxter</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$195.00</td>
<td>$175.00</td>
</tr>
<tr>
<td>David Macdonald</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$180.00</td>
<td>$170.00</td>
</tr>
<tr>
<td>Matthew Gillmor</td>
<td>Keybanc</td>
<td>Announces</td>
<td>Overweight</td>
<td>$200.00</td>
<td>-</td>
</tr>
<tr>
<td>Sarah James</td>
<td>Cantor Fitzgerald</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$168.00</td>
<td>$168.00</td>
</tr>
<tr>
<td>Sarah James</td>
<td>Cantor Fitzgerald</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$168.00</td>
<td>$168.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Tenet Healthcare. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Tenet Healthcare compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Tenet Healthcare's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Capture valuable insights into Tenet Healthcare's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/THC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Tenet Healthcare analyst ratings.</a>
<h2>Delving into Tenet Healthcare's Background</h2>
Tenet Healthcare is a Dallas-based healthcare services organization. It operates a collection of hospitals (about 50 as of July 2024) and over 500 ambulatory surgery centers and other outpatient facilities across the U.S., primarily in the South. Through its Conifer segment, Tenet also provides revenue cycle management solutions.
<h3>Key Indicators: Tenet Healthcare's Financial Health</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Growth: Tenet Healthcare's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2024, the company achieved a revenue growth rate of approximately 1.11%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Health Care sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Tenet Healthcare's net margin excels beyond industry benchmarks, reaching 9.22%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Tenet Healthcare's ROE stands out, surpassing industry averages. With an impressive ROE of 12.92%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Tenet Healthcare's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.61% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Tenet Healthcare's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 3.36.
<h2>The Basics of Analyst Ratings</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Demystifying Tenet Healthcare: Insights From 13 Analyst Reviews

WIIM

Tenet Healthcare shares are trading lower after Raymond James downgraded the stock from Strong Buy to Outperform.

Raymond James analyst John Ransom downgrades Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) from Strong Buy to Outperform and maintains the price target from $195 to $195.

Raymond James Downgrades Tenet Healthcare to Outperform, Maintains Price Target to $195

Raymond James analyst John Ransom downgrades Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) from Strong Buy to Outperform and announces $195 price target.

Raymond James Downgrades Tenet Healthcare to Outperform, Announces $195 Price Target

Deep-pocketed investors have adopted a bearish approach towards Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in THC usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Tenet Healthcare. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 54% bearish. Among these notable options, 2 are puts, totaling $50,501, and 9 are calls, amounting to $2,559,675.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $80.0 to $170.0 for Tenet Healthcare over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Tenet Healthcare's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Tenet Healthcare's whale activity within a strike price range from $80.0 to $170.0 in the last 30 days. 
<h3>Tenet Healthcare Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732216007_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th align="right">Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>THC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$68.0</td>
<td>$68.0</td>
<td>$68.0</td>
<td>$80.00</td>
<td>$550.8K</td>
<td align="right">8</td>
<td align="right">270</td>
</tr>
<tr>
<td>THC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$68.1</td>
<td>$68.0</td>
<td>$68.0</td>
<td>$80.00</td>
<td>$530.4K</td>
<td align="right">8</td>
<td align="right">288</td>
</tr>
<tr>
<td>THC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$67.1</td>
<td>$67.1</td>
<td>$67.1</td>
<td>$80.00</td>
<td>$503.2K</td>
<td align="right">8</td>
<td align="right">96</td>
</tr>
<tr>
<td>THC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$67.7</td>
<td>$67.6</td>
<td>$67.6</td>
<td>$80.00</td>
<td>$471.1K</td>
<td align="right">8</td>
<td align="right">186</td>
</tr>
<tr>
<td>THC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$68.1</td>
<td>$68.0</td>
<td>$68.0</td>
<td>$80.00</td>
<td>$122.4K</td>
<td align="right">8</td>
<td align="right">487</td>
</tr>
</tbody>
</table>

<h3>About Tenet Healthcare</h3>
Tenet Healthcare is a Dallas-based healthcare services organization. It operates a collection of hospitals (about 50 as of July 2024) and over 500 ambulatory surgery centers and other outpatient facilities across the U.S., primarily in the South. Through its Conifer segment, Tenet also provides revenue cycle management solutions.
Following our analysis of the options activities associated with Tenet Healthcare, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of Tenet Healthcare</h3>
<ul>
<li>Currently trading with a volume of 1,180,448, the THC's price is down by -2.04%, now at $148.74. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 77 days.</li>
</ul>
<h3>What The Experts Say On Tenet Healthcare</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $197.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Barclays persists with their Overweight rating on Tenet Healthcare, maintaining a target price of $190. 
&#x2A; An analyst from Wells Fargo has decided to maintain their Overweight rating on Tenet Healthcare, which currently sits at a price target of $205. 
&#x2A; An analyst from Goldman Sachs has decided to maintain their Buy rating on Tenet Healthcare, which currently sits at a price target of $196. 
&#x2A; Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Tenet Healthcare, targeting a price of $217. 
&#x2A; An analyst from Cantor Fitzgerald has decided to maintain their Overweight rating on Tenet Healthcare, which currently sits at a price target of $177. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Tenet Healthcare with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Markets

Check Out What Whales Are Doing With THC

Whales with a lot of money to spend have taken a noticeably bearish stance on Tenet Healthcare.
Looking at options history for Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 41% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $225,654 and 5, calls, for a total amount of $627,150.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $80.0 and $175.0 for Tenet Healthcare, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of Tenet Healthcare stands at 538.5, with a total volume reaching 3,082.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Tenet Healthcare, situated within the strike price corridor from $80.0 to $175.0, throughout the last 30 days.
<h3>Tenet Healthcare Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1731697233_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>THC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$78.0</td>
<td>$73.6</td>
<td>$76.53</td>
<td>$80.00</td>
<td>$382.6K</td>
<td>95</td>
<td align="right">50</td>
</tr>
<tr>
<td>THC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.1</td>
<td>$3.0</td>
<td>$3.0</td>
<td>$175.00</td>
<td>$109.8K</td>
<td>1.9K</td>
<td align="right">0</td>
</tr>
<tr>
<td>THC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.2</td>
<td>$3.0</td>
<td>$3.0</td>
<td>$175.00</td>
<td>$66.0K</td>
<td>1.9K</td>
<td align="right">743</td>
</tr>
<tr>
<td>THC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$6.8</td>
<td>$6.3</td>
<td>$6.55</td>
<td>$155.00</td>
<td>$44.8K</td>
<td>99</td>
<td align="right">20</td>
</tr>
<tr>
<td>THC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.1</td>
<td>$2.85</td>
<td>$3.0</td>
<td>$175.00</td>
<td>$36.9K</td>
<td>1.9K</td>
<td align="right">994</td>
</tr>
</tbody>
</table>

<h3>About Tenet Healthcare</h3>
Tenet Healthcare is a Dallas-based healthcare services organization. It operates a collection of hospitals (about 50 as of July 2024) and over 500 ambulatory surgery centers and other outpatient facilities across the U.S., primarily in the South. Through its Conifer segment, Tenet also provides revenue cycle management solutions.
Following our analysis of the options activities associated with Tenet Healthcare, we pivot to a closer look at the company's own performance.
<h3>Where Is Tenet Healthcare Standing Right Now?</h3>
<ul>
<li>With a volume of 793,505, the price of THC is down -5.36% at $153.93. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 83 days.</li>
</ul>
<h3>Professional Analyst Ratings for Tenet Healthcare</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $189.6.
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&#x2A; An analyst from Wells Fargo persists with their Overweight rating on Tenet Healthcare, maintaining a target price of $195. 
&#x2A; Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Tenet Healthcare with a target price of $196. 
&#x2A; Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Tenet Healthcare, targeting a price of $190. 
&#x2A; An analyst from Truist Securities downgraded its action to Buy with a price target of $190. 
&#x2A; Maintaining their stance, an analyst from Cantor Fitzgerald continues to hold a Overweight rating for Tenet Healthcare, targeting a price of $177. 
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What the Options Market Tells Us About Tenet Healthcare

Barclays analyst Andrew Mok maintains Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) with a Overweight and raises the price target from $171 to $190.

Barclays Maintains Overweight on Tenet Healthcare, Raises Price Target to $190

Wells Fargo analyst Stephen Baxter maintains Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) with a Overweight and raises the price target from $195 to $205.

Wells Fargo Maintains Overweight on Tenet Healthcare, Raises Price Target to $205

Cantor Fitzgerald analyst Sarah James maintains Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) with a Overweight and raises the price target from $168 to $177.

Cantor Fitzgerald Maintains Overweight on Tenet Healthcare, Raises Price Target to $177

Goldman Sachs analyst Jamie Perse maintains Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) with a Buy and raises the price target from $173 to $196.

Goldman Sachs Maintains Buy on Tenet Healthcare, Raises Price Target to $196

RBC Capital analyst Ben Hendrix maintains Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) with a Outperform and raises the price target from $174 to $183.

RBC Capital Maintains Outperform on Tenet Healthcare, Raises Price Target to $183

Truist Securities analyst David Macdonald reiterates Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) with a Buy and raises the price target from $180 to $190.

Reiteration

Truist Securities Reiterates Buy on Tenet Healthcare, Raises Price Target to $190

UBS analyst A.J. Rice maintains Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) with a Buy and raises the price target from $197 to $217.

UBS Maintains Buy on Tenet Healthcare, Raises Price Target to $217

Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) has outperformed the market over the past 5 years by 28.69% on an annualized basis producing an average annual return of 42.33%. Currently, Tenet Healthcare has a market capitalization of $15.18 billion. 
Buying $1000 In THC: If an investor had bought $1000 of THC stock 5 years ago, it would be worth $6,120.94 today based on a price of $158.41 for THC at the time of writing.
<h3>Tenet Healthcare's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730228418_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Tenet Healthcare Stock In The Last 5 Years

On Tuesday,&nbsp;Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>)&nbsp;reported <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41594927/tenet-reports-strong-third-quarter-2024-results-raises-2024-financial-outlook" rel="noreferrer noopener">third-quarter</a> sales of $5.12 billion, up around 1.1% year over year, beating the&nbsp;consensus of $5.05 billion and management <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39934114/hospital-operator-tenet-healthcare-exceeds-earnings-expectations-announces-share-buyback-of-1-5b" rel="noreferrer noopener">guidance of $5 billion—$5.1 billion</a>.
Tenet Healthcare operates hospitals and healthcare facilities.
The company reported adjusted EPS of $2.93, up from $1.44 a year ago, beating the guidance of $2.16-$2.58 and the <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">consensus of $2.37</a>.
&#8220;Our businesses continue to produce strong results and generate robust free cash flow with same-store revenue growth and profitability well above our expectations due to the focused execution of our strategy and disciplined operations,&#8221; said Saum Sutaria, Chairman and CEO of Tenet.
Adjusted EBITDA&nbsp;was $978 million compared to $854 million a year ago, reflecting strong same-hospital admissions growth, ambulatory net revenue per case growth, favorable payer mix, and increased Medicaid supplemental <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41594927/tenet-reports-strong-third-quarter-2024-results-raises-2024-financial-outlook" rel="noreferrer noopener">revenues in Michigan</a>.
Tenet&#8217;s free cash flow was $1.78 billion for the nine months ended September 30, 2024, up 76% year over year.
Ambulatory segment revenues increased 21% to $1.14 billion, driven by net revenue per case growth, facility acquisitions, and increased service lines.
Surgical business same-facility system-wide net patient service revenues increased 8.7%, with cases up 1.0% and net revenue per case up 7.6%.
Hospital Operations and Services revenues declined 3.4% to $3.98 billion, primarily due to the impact of hospital divestitures in the first quarter of 2024. This was partially offset by strong same-hospital admissions growth, favorable payer mix, and improved pricing yield.
Same-hospital net patient service revenue per adjusted admission increased 3.3% year-over-year.
In October, the company completed the sale of its 70% majority ownership interest in Brookwood Baptist Health in Birmingham, Alabama, to Orlando Health. The completed transaction included five hospitals and other related operations.
Outlook: Tenet Healthcare revised its fiscal year 2024 revenues guidance to $20.6 billion—$20.8 billion, compared to prior guidance of $20.6 billion—$21 billion and the consensus of $20.82 billion.
The guidance includes Hospital segment sales of $16.225 billion —$16.375 billion and Ambulatory Segment sales of $4.375 billion—$4.425 billion, compared to prior guidance of $16.28 billion—$16.53 billion and $4.33 billion—$4.48 billion, respectively.
The company forecasts adjusted EPS of $11.12-$11.73 compared to prior guidance of $10.41-$11.12 and a consensus of $10.56.
Price Action:&nbsp;At last check on Tuesday, THC stock was up 12.01% at $156.18.
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Earnings

Guidance

Health Care

General

Healthcare Facilities Operator Tenet Healthcare Boosts Annual Forecast On Same-store Revenue And Free Cash Flow Growth

Tenet Revises FY24 Net Operating Revenues Outlook From $20.60B - $21B To $20.60B - $20.80B (Est $20.816B), Raises Adj EPS From $10.41 - $11.12 To $11.12 - $11.73 (Est $10.56)

Tenet Expects Q4 Net Operating Revenues Of $5.007B - $5.207B (Est $5.29B), Adjusted EPS Of $2.69 - $3.31 (Est $2.88)

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