THC Tenet Healthcare
Tenet Healthcare Corp. engages in the provision of health care services. Through its subsidiaries and affiliates, it owns and facilitates acute care hospitals, ambulatory surgery centers, diagnostic imaging centers, and related health care facilities. It operates through the following business segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment comprises of acute care hospitals, ancillary outpatient facilities, urgent care centers, microhospitals and physician practices. The Ambulatory Care segment includes operations of USPI joint venture and the company's nine Aspen facilities in the United Kingdom. The Conifer segment offers healthcare business process services in the areas of hospital and physician revenue cycle management and value-based care solutions to healthcare systems, as well as individual hospitals, physician practices, self-insured organizations, health plans, and other entities. The company was founded in 1975 and is headquartered in Dallas, TX.
Company profile
Ticker
THC
Exchange
Website
CEO
Ronald Rittenmeyer
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
NATIONAL MEDICAL ENTERPRISES INC /NV/
SEC CIK
Corporate docs
IRS number
952557091
THC stock data
()
Press releases
Tenet to Participate in Goldman Sachs Annual Global Healthcare Conference
2 Jun 21
AdventHealth and USPI Form Joint Venture to Expand Outpatient Surgical Services in Tampa Bay Region
2 Jun 21
Tenet to Participate in Barclays High Yield Bond & Syndicated Loan Conference
19 May 21
Tenet Announces Pricing of its $1.4 Billion Private Offering of Senior Secured Notes
18 May 21
Tenet Announces $1.4 Billion Private Offering of Senior Secured Notes
18 May 21
Calendar
30 Apr 21
14 Jun 21
31 Dec 21
Financial summary
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Mar 21 | Dec 20 | Sep 20 | Jun 20 | |
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Annual (USD) |
Dec 20 | Dec 19 | Dec 18 | Dec 17 | |
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Financial data from company earnings reports.
| Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 2.14B | 2.14B | 2.14B | 2.14B | 2.14B | 2.14B |
| Cash burn (monthly) | 101.67M | (positive/no burn) | (positive/no burn) | (positive/no burn) | (positive/no burn) | (positive/no burn) |
| Cash used (since last report) | 250.96M | n/a | n/a | n/a | n/a | n/a |
| Cash remaining | 1.89B | n/a | n/a | n/a | n/a | n/a |
| Runway (months of cash) | 18.6 | n/a | n/a | n/a | n/a | n/a |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 28 May 21 | Howard Hacker | Common Stock | Sell | Dispose S | No | No | 66.7 | 6,382 | 425.68K | 0 |
| 28 May 21 | Paola M Arbour | Common Stock | Payment of exercise | Dispose F | No | No | 66.91 | 611 | 40.88K | 1,898 |
| 28 May 21 | Paola M Arbour | Common Stock | Option exercise | Aquire M | No | No | 0 | 2,509 | 0 | 2,509 |
| 28 May 21 | Paola M Arbour | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 2,509 | 0 | 0 |
| 28 May 21 | Marie Quintana | Common Stock | Payment of exercise | Dispose F | No | No | 66.91 | 803 | 53.73K | 12,299 |
| 28 May 21 | Marie Quintana | Common Stock | Option exercise | Aquire M | No | No | 0 | 2,039 | 0 | 13,102 |
| 28 May 21 | Marie Quintana | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 2,039 | 0 | 0 |
| 24 May 21 | Fitzgerald Meghan | Common Stock | Sell | Dispose S | No | No | 63.57 | 6,153 | 391.15K | 33,828 |
| 21 May 21 | Paola M Arbour | Common Stock | Sell | Dispose S | No | No | 63.44 | 9,029 | 572.8K | 0 |
Institutional ownership Q1 2021
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
90.1% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 303 |
| Opened positions | 63 |
| Closed positions | 37 |
| Increased positions | 72 |
| Reduced positions | 116 |
13F shares |
Current |
|---|---|
| Total value | 5B |
| Total shares | 96.21M |
| Total puts | 853.1K |
| Total calls | 1.55M |
| Total put/call ratio | 0.6 |
Largest owners |
Shares | Value |
|---|---|---|
| Glenview Capital Management | 13.73M | $713.72M |
| BLK Blackrock | 13.14M | $683.09M |
| Vanguard | 11.4M | $592.62M |
| Harris Associates L P | 6.34M | $329.76M |
| STT State Street | 3.24M | $168.53M |
| Camber Capital Management | 3M | $156M |
| Dimensional Fund Advisors | 2.31M | $120.29M |
| Centerbridge Partners | 2.08M | $108.34M |
| GS Goldman Sachs | 2M | $103.82M |
| Geode Capital Management | 1.89M | $98.11M |
Financial report summary
?Management Discussion
- •Hospital Operations, which is comprised of our acute care and specialty hospitals, ancillary outpatient facilities, urgent care centers, micro-hospitals and physician practices. As described in Note 5 to the accompanying Consolidated Financial Statements, certain of these facilities were classified as held for sale at December 31, 2020 and 2019.
- •Ambulatory Care, which is comprised of USPI’s ASCs, urgent care centers, imaging centers and surgical hospitals. As described in Note 5 to the accompanying Consolidated Financial Statements, certain of these facilities were classified as held for sale at December 31, 2020. In December 2020, USPI acquired controlling interests in the SCD Centers, which added 45 ASCs to USPI’s total centers.
- •Conifer, which provides revenue cycle management and value-based care services to hospitals, health systems, physician practices, employers and other clients.
Content analysis
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H.S. sophomore Avg
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New words:
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Removed:
acceptable, accrual, accumulated, added, adequately, Administration, admit, advanced, affiliated, agreed, alleged, amortized, appeal, appellate, approach, Arizona, artificially, ASC, assessment, assuming, ASU, auditing, behalf, brand, captioned, challenge, charitable, claimed, Clinica, closely, code, Colorado, commencing, complaint, comprising, consolidating, contest, contingency, County, criminal, de, deficit, deliberate, dilutive, dismissal, disposed, diversity, divest, enacted, entitled, evolve, exclusion, excused, exhaustive, expedient, expire, factor, failed, failing, FASB, finalizing, forced, frame, fraud, fulfill, fully, futile, geographic, goal, Graduate, heightened, IME, imposing, indigent, indirect, inflated, Inspector, iv, judge, Justice, la, larger, lawsuit, lead, lesser, lifting, limitation, maintained, Mama, mature, misleading, modified, monitoring, motion, Multispecialty, NOL, nonqualified, Notwithstanding, November, OCOM, Oklahoma, oral, Orthopaedic, overview, parallel, passage, plead, precondition, preferable, prevent, prosecution, psychiatric, purported, pursued, putting, rapidly, realization, recast, recently, reflected, rehabilitation, relator, replead, repurchased, request, reserve, resolve, responding, restructured, retroactive, retrospective, ruling, seal, shortly, softening, Southwest, stepping, strain, summary, targeting, taxable, Tennessee, Topic, transferring, uncollectable, understandability, undiscounted, unstable, unvested, vast, vigorously, violated, voluntarily, Western, withdrawn, worsen
Financial reports
10-Q
2021 Q1
Quarterly report
30 Apr 21
10-K
2020 FY
Annual report
19 Feb 21
10-Q
2020 Q3
Quarterly report
29 Oct 20
10-Q
2020 Q2
Quarterly report
3 Aug 20
10-Q
2020 Q1
Quarterly report
4 May 20
10-K
2019 FY
Annual report
24 Feb 20
10-Q
2019 Q3
Quarterly report
3 Nov 19
10-Q
2019 Q2
Quarterly report
5 Aug 19
10-Q
2019 Q1
Quarterly report
29 Apr 19
10-K
2018 FY
Annual report
25 Feb 19
Current reports
8-K
Entry into a Material Definitive Agreement
2 Jun 21
8-K
Tenet Announces $1.4 Billion Private Offering of Senior Secured Notes
18 May 21
8-K
Submission of Matters to a Vote of Security Holders
12 May 21
8-K
Entry into a Material Definitive Agreement
23 Apr 21
8-K
Results of Operations and Financial Condition
20 Apr 21
8-K/A
Departure of Directors or Certain Officers
2 Mar 21
8-K
Results of Operations and Financial Condition
9 Feb 21
8-K
Departure of Directors or Certain Officers
25 Jan 21
8-K
Results of Operations and Financial Condition
11 Jan 21
8-K
Departure of Directors or Certain Officers
8 Jan 21
Registration and prospectus
S-8 POS
Registration of securities for employees (post-effective amendment)
15 May 19
S-8
Registration of securities for employees
15 May 19
8-A12B/A
Registration of securities on exchange (amended)
4 Mar 18
8-A12B
Registration of securities on exchange
31 Aug 17
S-8
Registration of securities for employees
1 Aug 16
S-8
Registration of securities for employees
1 Aug 16
424B3
Prospectus supplement
20 Jul 15
S-4
Registration of securities issued in business combination transactions
8 Jul 15
25-NSE
Exchange delisting
11 Aug 14
25-NSE
Exchange delisting
6 Jul 14
Proxies
DEFA14A
Additional proxy soliciting materials
26 Mar 21
DEF 14A
Definitive proxy
26 Mar 21
PX14A6G
Letter to shareholders
29 Apr 20
DEFA14A
Additional proxy soliciting materials
17 Apr 20
DEF 14A
Definitive proxy
17 Apr 20
DEFA14A
Additional proxy soliciting materials
22 Mar 19
DEF 14A
Definitive proxy
22 Mar 19
DEF 14A
Definitive proxy
29 Mar 18
DEFA14A
Additional proxy soliciting materials
4 Mar 18
DEFA14A
Additional proxy soliciting materials
20 Feb 18
Other
UPLOAD
Letter from SEC
11 Jun 19
CORRESP
Correspondence with SEC
9 Jun 19
UPLOAD
Letter from SEC
2 Jun 19
UPLOAD
Letter from SEC
12 Dec 16
CORRESP
Correspondence with SEC
30 Nov 16
CORRESP
Correspondence with SEC
17 Nov 16
UPLOAD
Letter from SEC
16 Nov 16
EFFECT
Notice of effectiveness
20 Jul 15
CORRESP
Correspondence with SEC
17 Oct 13
EFFECT
Notice of effectiveness
17 Oct 13
Ownership
4
TENET HEALTHCARE / Marie Quintana ownership change
2 Jun 21
4
TENET HEALTHCARE / Paola M Arbour ownership change
2 Jun 21
4
TENET HEALTHCARE / Howard Hacker ownership change
2 Jun 21
4
TENET HEALTHCARE / Meghan Fitzgerald ownership change
26 May 21
4
TENET HEALTHCARE / Paola M Arbour ownership change
25 May 21
4
TENET HEALTHCARE / R. Scott Ramsey ownership change
18 May 21
3
TENET HEALTHCARE / Thomas W Arnst ownership change
14 May 21
4
TENET HEALTHCARE / Nadja West ownership change
11 May 21
4
TENET HEALTHCARE / Tammy Romo ownership change
11 May 21
4
TENET HEALTHCARE / RICHARD J MARK ownership change
11 May 21
Transcripts
2021 Q1
Earnings call transcript
21 Apr 21
2020 Q4
Earnings call transcript
10 Feb 21
2020 Q3
Earnings call transcript
21 Oct 20
2020 Q2
Earnings call transcript
4 Aug 20
2020 Q1
Earnings call transcript
5 May 20
2019 Q4
Earnings call transcript
25 Feb 20
2019 Q3
Earnings call transcript
5 Nov 19
2019 Q2
Earnings call transcript
6 Aug 19
2019 Q1
Earnings call transcript
30 Apr 19
2018 Q4
Earnings call transcript
26 Feb 19
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