Tenet Healthcare Corp.’s Q1 earnings dropped 19% as greater costs counterbalance a rise in emergency department visits at the company’s hospitals, as well as an rise in surgeries.
Tenet, which operates 50 hospitals, posted a profit of $64 million, or 13 cents per share, lower from $79 million, or 14 cents per share, a year previously. Net revenue rose 2.2% to $2.35 billion. Not including a 6% increase in the provision for doubtful accounts, revenue expansion was 2.5%.
Analysts surveyed by Thomson Reuters most recently anticipated earnings of 8 cents on sales of $2.49 billion. Labor expenses rose 4.2% whereas other operating costs increased 9.3%.
Its competitors include HCA Holdings Inc (NYSE:HCA) that surged 0.51% to $26.40 with the total traded volume of 187,314.00 shares and Universal Health Services, Inc. (NYSE:UHS) that dropped -2.01% to $39.98 with the total traded volume of 92,275.00 shares.
Other Healthcare stocks with bullish trend include Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) up 20.59% to $3.28, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) up 2.03% to $59.30 and GTx, Inc. (NASDAQ:GTXI) up 12.58% to $3.49, whereas with bearish trend include Dendreon Corporation (NASDAQ:DNDN) down -19.50% to $9.41, MAKO Surgical Corp. (NASDAQ:MAKO) down -35.75% to $26.60 and Boston Scientific Corporation (NYSE:BSX) down -1.27% to $6.23.
Tenet Healthcare Corporation (NYSE:THC) stock’s trade at beginning with a price of $5.01 and the current trading session climbed at a high of $5.08 other than the stock finally declined -3.77% to $4.85 at 10:26AM EDT.
Shares price of THC moved down from its 20 days moving average with -5.45% and remote negatively from 50 days moving average with -7.47%. THC current year earnings per share experienced a decline with -93.43% while its current quarter performance remained -15.15%.
THC has a trade volume of 1.23 million shares is lesser as compared to average trading capacity of 6.67 million shares.
THC last month stock price volatility remained 3.21%. In its share capital THC has 412.72 million outstanding shares among them 409.19 million shares have been floated in market exchange. THC stock insider ownership remained 0.75%.
The stock is ahead its 52 week low with 43.64% and lagging behind from its 52 week high price with -25.71%. Company’s beta coefficient included 2.24. Beta factors measures the amount of market risk associated with market trade.
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