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THC

Tenet

$27.17

1.34 (5.19%)

16:17
11/04/19
11/04
16:17
11/04/19
16:17

Tenet reports Q3 adjusted EPS 58c, consensus 30c

Reports Q3 revenue $4.57B, consensus $4.46B. Hospital segment same-hospital net patient service revenues grew 5.8 percent in the third quarter of 2019: admissions increased 3.6 percent, adjusted admissions increased 2.8 percent and net revenue per adjusted admission increased 2.9 percent. Adjusted EBITDA in the hospital segment grew 7.1 percent. Ambulatory Care segment same-facility system-wide surgical revenue grew 6.9 percent in the third quarter of 2019, with surgical cases up 4.4 percent and surgical revenue per case up 2.5 percent. Adjusted EBITDA less facility-level noncontrolling interest increased 17.5 percent.

  • 05

    Nov

THC Tenet
$27.17

1.34 (5.19%)

05/01/19
RHCO
05/01/19
NO CHANGE
Target $27
RHCO
Hold
Tenet price target lowered to $27 from $34 at SunTrust
SunTrust analyst David MacDonald lowered his price target on Tenet to $27 to reflect lower market multiples in the industry. The analyst also keeps his Hold rating on the stock, saying that while the company's Q1 results saw solid volume trends and progress on the management's efficiency initiatives, he sees "continued operational execution and free cash flow generation" as key.
08/14/19
GSCO
08/14/19
INITIATION
Target $28
GSCO
Neutral
Tenet reinstated with a Neutral at Goldman Sachs
Goldman Sachs analyst Stephen Tanal reinstated coverage of Tenet Healthcare with a Neutral rating and $28 price target following the conclusion of its strategic review for Conifer. The analyst believes the risk/reward for Tenet's shares look favorable ahead of the proposed Conifer spin, but he looks for signs of sustainability in improved Q2 hospital volumes and better flow-through to earnings growth.
08/14/19
08/14/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tenet (THC) reinstated with a Neutral at Goldman Sachs. 2. WWE (WWE) initiated with a Buy at Rosenblatt. 3. iHeartMedia (IHRT) initiated with a Buy at BofA/Merrill. 4. Fastly (FSLY) initiated with an Overweight at Piper Jaffray. 5. Amarin (AMRN) initiated with an Outperform at SVB Leerink. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/03/19
EVER
09/03/19
NO CHANGE
EVER
Evercore says Tenet has highest exposure among hospitals to Dorian's new path
Evercore ISI analyst Michael Newshel estimates that Tenet (THC) has 22% of its beds in coastal counties in Florida, Georgia, South Carolina and North Carolina, where mandatory evacuations have been ordered in certain coastal areas due to the expected path of Hurricane Dorian. HCA Healthcare (HCA) has 15% of its beds in coastal counties in Florida, George and South Carolina, including 8% in counties that have received evacuation orders, while Universal Health (UHS) has one acute hospital, representing 3.6% of its total acute beds, in the affected coastal counties, and 8% of its behavioral beds are in coastal counties, the analyst noted. Newshel said Community Health (CYH), Quorum Health (QHC) and Acadia (ACHC) do not have any coastal exposure in the four states expected to be most impacted by Dorian.

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