28.51 0.00 (0.00%)
After hours: 4:48PM EDT
|Bid||27.90 x 1100|
|Ask||29.09 x 900|
|Day's Range||28.00 - 28.63|
|52 Week Range||12.25 - 39.74|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 5, 2018 - Nov 9, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||35.12|
The health system, owned by Tenet Healthcare Corp., has committed more than $20 million toward improving its center city hospital.
Tenet Healthcare Corporation (THC) today announced that its four hospitals in South Carolina are fully operational following Hurricane Florence and meeting the healthcare needs of the communities they serve. Coastal Carolina Hospital, East Cooper Medical Center and Hilton Head Hospital, which are all located in areas impacted by the storm, had no material damage. East Cooper Medical Center in Mt. Pleasant, S.C., received an exception to the mandatory evacuation order issued by the Governor of South Carolina and remained open with reduced census and an operational emergency room.
Disruption from Hurricane Florence could hurt hospital system earnings in the third quarter, analysts said. Lifepoint Health has the largest potential exposure, with nearly 30 percent of its hospital beds in North and South Carolina within the forecasted path of the storm. Tenet Healthcare has the lowest overall exposure in the region, but many its facilities are along the coastline and so the storm could have an outsized impact.
Princeton Baptist Medical Center has named Mike Neuendorf as its new CEO. Neuendorf joins the Brookwood Baptist Health System hospital – a joint venture involving Tenet Healthcare Corp. (NYSE: THC) – from Community Health Systems (NYSE: CHS), having served as CEO of Merit Health Wesley Hospital in Hattiesburg, Mississippi, for the past eight years. He has been in the health care industry for more than 20 years, serving in several leadership and consulting roles. Neuendorf has served as a member of the Georgia and Alabama National Guard for over a decade.
The latest investment will add more operating space as the Brooks facility's surgical volume has increased by 16 percent in the last year.
In Q2 2018, HCA Healthcare (HCA) reported a 2.7% YoY rise in same-facility admissions, and a 2.8% YoY rise in same-facility equivalent admissions. In 1H 2018, the company reported a 2.5% YoY rise in same-facility admissions and a 2.3% YoY rise in same-facility equivalent admissions.
Wall Street analysts have projected HCA Healthcare’s fiscal 2018 adjusted diluted EPS to be around $9.22, which would be a year-over-year (or YoY) rise of approximately 35%. Tenet Healthcare is expected to report diluted EPS close to $1.73 in fiscal 2018, which is a YoY decline of 113.6%. Finally, Wall Street analysts expect LifePoint Health to report diluted EPS close to $4.62 in fiscal 2018, which is a YoY rise of 27.3%.
In its Q2 2018 conference call, HCA Healthcare (HCA) revised upwards its fiscal 2018 guidance based on its better-than-anticipated financial performance in H1 2018. Tenet Healthcare (THC) expects to witness revenues in the range of $17.9 billion and $18.3 billion for fiscal 2018, which is based on the assumption of same-facility revenue growth of 2.5% to 4.5% for the company’s hospitals and same-facility revenue growth in the range of 4%–6% at United Surgical Partners (or USPI). At the end of Q1 2018, LifePoint Health (LPNT) had projected its fiscal 2018 total revenues to fall in the range of $6.35 billion to $6.43 billion, which would be a year-over-year (or YoY) rise of 1.4% to 2.7%.
After a relatively lackluster performance in 2017, the three major for-profit hospital stocks in the US have seen a rapid rise in their stock prices in 2018. Based on August 21 closing prices, HCA Healthcare (HCA), Tenet Healthcare (THC), and LifePoint Health (LPNT) have reported a rise in stock prices of around 46.9%, 107.6%, and 26.6%, respectively. In 2017, HCA Healthcare, Tenet Healthcare, and LifePoint Health saw returns of around 18%, -1.6%, and -14%, respectively.
Tenet Healthcare Corporation today announced that it has completed the sale of Aspen Healthcare Ltd., which operates nine healthcare facilities in the United Kingdom, to NMC Healthcare UK Limited .
Now that the federal Centers for Medicare and Medicaid is dumping its most popular accountable care organization model because it is draining $39 million a year in taxpayer money, at least one Arizona group is getting out of that business. Todd Ricotta, executive director of the Arizona Care Network, said the network plans to stop participating in in one of the programs but will continue in with another model. "We still have to notify CMS of our decision to not participate." Accountable care organizations are groups of doctors, hospitals and other health care providers accountable for the cost and quality of care for their assigned patients.
NEW YORK, Aug. 09, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Tenet ...
Shares of the for-profit hospital operator deepened losses in Tuesday trading after the company announced during its second-quarter earnings call it is still working to offload its subsidiary Conifer Health Solutions. Ana Gupte, senior health-care services analyst at Leerink Partners, told CNBC that investors were disappointed with the timing and sale process of Conifer. Tenet Healthcare shares deepened losses in Tuesday trading after the company announced during its second-quarter earnings call it is still working to offload its subsidiary Conifer Health Solutions.