Mizuho Securities Cuts Price Target on Tenet Healthcare (THC) to $28; Reiterates Neutral
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Tenet Reports Results for the Second Quarter Ended June 30, 2016
August 1, 2016 5:07 PM EDTTenet reported a net loss from continuing operations of $44 million and earnings per share from continuing operations was a loss of $0.44. Adjusted EBITDA was $617 million and Adjusted diluted earnings per share from continuing operations was $0.38. Same-hospital patient revenue grew 4.4% in the second quarter, driven by 0.5% growth in adjusted admissions and 3.9% growth in revenue per adjusted admission. Hospital segment Adjusted EBITDA totaled $415 million. Ambulatory Care segment revenue increased 11.7% on a pro forma same-facility system-wide basis in the second quarter, with cases increasing 5.2% and revenue per... More
