Tenet Healthcare shares increase 15 percent

Shares of Tenet Healthcare are up nearly 15 percent this week.

Shares of Tenet Healthcare are up nearly 15 percent this week even as a partial government shutdown weighs on the market.

The hospital operator completed its acquisition of Vanguard Health Systems, for approximately $4.3 billion, on Tuesday. “Through this acquisition, we have significantly increased our scale and expanded the services we offer,” Trevor Fetter, Tenet’s president and chief executive officer, said in a statement.

The deal expands Tenet’s reach into new markets as millions of patients start to gain insurance coverage.

THE STOCK

Tenet Healthcare (THC)

Thursday’s close: $46.27 ▲ $2.37, or 5.4%

52-week range $23-$39

Market value $4.7 billion

Price-earnings ratio * Lost

money

Total return YTD 43%

1-year ** 81%

5-year ** 18%

10-year ** 3%

Note: Total returns through Thursday; * Trailing 12 months; ** Annualized

 

Source: FactSet, Associated Press

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