Shares of Tenet Healthcare Corp (NYSE:THC) ended Friday session in green amid volatile trading. The shares closed up +0.29 points or 1.27% at $23.09 with 6,984,059 shares getting traded. Post opening the session at $22.54, the shares hit an intraday low of $22.45 and an intraday high of $23.74 and the price vacillated in this range throughout the day. The company has a market cap of $2.33 billion and the numbers of outstanding shares have been calculated to be 99.52 million shares.
Tenet Healthcare Corp (THC) on August 2, 2016 reported a net loss from continuing operations of $44 million in the second quarter of 2016, a $16 million improvement when compared to a $60 million net loss from continuing operations in the second quarter of 2015. Adjusted EBITDA was $617 million in the second quarter of 2016, an increase of $49 million, or 8.6 percent, compared to $568 million in the second quarter of 2015.
“Our strategic investments in high-acuity service lines helped us to grow same-hospital patient revenue and revenue per adjusted admission,” said Trevor Fetter, chairman and chief executive officer. “Our Conifer Health and USPI subsidiaries performed well and both achieved double-digit revenue growth. We are pleased with the progress we are making on our core strategies across all three business segments and remain on track to meet our Adjusted EBITDA Outlook for the year.”
Shares of Concordia International Corp (NASDAQ:CXRX) ended Friday session in red amid volatile trading. The shares closed down -1.21 points or -18.31% at $5.40 with 6.91 million shares getting traded. Post opening the session at $5.94, the shares hit an intraday low of $4.80 and an intraday high of $5.97 and the price vacillated in this range throughout the day. The company has a market cap of $275.49 million.
Concordia International Corp (CXRX) on Sept. 16, 2016 reaffirmed its full year 2016 guidance, and confirmed that it believes it has access to sufficient financial resources to manage its liabilities.
Concordia’s full year 2016 financial guidance is as follows:
- Revenues of US$859 million to US$888 million
- 1Adjusted EBITDA of US$510 million to US$540 million
- Approximately 66 percent of revenues to be generated outside the U.S.
- Target 2016 year-end Net Debt/EBITDA of 6.4x or below
- Reduction in the GBP/USD foreign exchange rate to 1.31 assumed for the remainder of 2016 from July – December