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Tenet Healthcare Corporation Reports Second Quarter 2011 Results – NYSE:THC

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Tenet Healthcare Corporation NYSE:THC recently reported adjusted EBITDA of $277 million for the second quarter ended June 30, 2011, increased $9 million, or 3.4%, compared to $268 million for the second quarter of 2010.

Company’s income generated from continuing operations, before income taxes, was $66 million in the second quarter of 2011, increased $1 million, or 1.5%, as compared to $65 million in the second quarter of 2010.

For company’s common shareholders the net income was $55 million, or 11 cents per diluted share, compared to $25 million, or $0.05 per share diluted, for the second quarter of 2010.

Tenet Healthcare Corporation NYSE:THC on August 03, 2011 increased 1.76% with the closing price of $5.19. The overall volume in the last trading session was 20.81 million shares. Its fifty two week range was $3.92-$7.70. The total market capitalization remained $2.54 billion.

The current stock price of Tenet Healthcare Corporation is moving below its 52 week low by 32.40% and moving below from 52 week high price by 32.60%. THC last month stock price volatility remained 3.70%. In its share capital THC has 489.90 million outstanding shares while company’s float is 486.88 million shares. Ownership of company is 95.25% institutional.

The company’s current stock price is below its 20 days moving average with 13.20% and below its 50 days moving average with 15.41%. Tenet Healthcare Corporation is moving negative as its week performance is -8.79% with month performance of -19.91%. Company has sound business returns as its operating margin is 6.78% with profit margin of 12.12%.

Tenet Healthcare Corporation (Tenet) is an investor-owned company that operates in one line of business: the provision of health care services through the operation of acute care hospitals and related health care facilities. All of Tenet’s operations are conducted through its subsidiaries and affiliates. Its business includes inpatient care, intensive care, cardiac care, radiology services and emergency medical treatment.

At December 31, 2010, its subsidiaries operated 49 general hospitals, including four academic medical centers, and a critical access hospital, with a total of 13,428 licensed beds, serving urban and suburban communities in 11 states.

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