On July 27, Tenet Healthcare rose 5.06% in regular trading, trading near $244.67/share, with turnover of approximately $65.60 million. The stock continued its strong momentum following the Q2 earnings release on July 24.
The company reported Q2 adjusted EPS of $6.12, significantly beating the consensus estimate of $4.23 and representing a 52.24% year-over-year increase. Revenue came in at $5.628 billion versus the $5.43 billion expected. Both the hospital operations and ambulatory surgery center segments outperformed, while lower-than-expected labor and operating costs drove an adjusted EBITDA beat. The company also raised full-year guidance, now expecting adjusted diluted EPS of $20.30 to $21.69, well above the prior analyst consensus of $17.94, and announced an additional $2 billion share buyback program.
Analyst actions further supported the rally. Morgan Stanley raised its price target to $274 from $254, maintaining an Overweight rating, while Bank of America lifted its target to $265 from $230.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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