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Community Health Systems, Inc. CYH recently announced that its subsidiary, Northwest Urgent Care, LLC, has agreed to buy 10 urgent care centers in Arizona from Carbon Health. The move is expected to boost the company’s capacity and footprint in the region.
The transaction is scheduled to be completed in the fourth quarter of 2024. Northwest Urgent is part of Northwest Healthcare, which serves Tucson and its surrounding communities in Arizona. The acquisition is expected to expand Northwest Healthcare’s network to more than 80 sites.
Northwest Healthcare has committed around $200 million to strategic growth and capital development across the Greater Tucson Metro area in the last five years. This investment includes two new hospitals: Northwest Medical Center Sahuarita and Northwest Medical Center Houghton. These projects reflect the company’s efforts to expand and modernize its healthcare offerings in the region. With improving economic conditions, an increase in mergers and acquisitions within the medical and hospital sectors is expected in the coming days.
Over the years, acquisitions and partnerships have been key drivers of Community Health’s growth. The company targets hospitals where it can add value by expanding specialty medical services, achieving economies of scale, investing in new technology and enhancing process management. CYH is expanding capacity by adding beds to its existing facilities to meet the growing demand for healthcare services.
The company operates in 39 distinct markets across 15 states. In the first quarter of 2024, it opened two new ambulatory surgery centers in Tucson, AZ, and Cedar Park, TX. These expansionary moves are expected to boost CYH’s admission volumes, supporting overall growth.
CYH Stock Price Performance
Community Health’s shares have surged 84.6% in the past year compared with the 56.5% rise of the industry it belongs to.
CYH’s Zacks Rank & Key Picks
Community Health currently has a Zacks Rank #3 (Hold). Investors can look at some better-ranked stocks in the broader Medical space, like Universal Health Services, Inc. UHS, Tenet Healthcare Corporation THC and CareDx, Inc. CDNA. While Universal Health and Tenet Healthcare each currently sport a Zacks Rank #1 (Strong Buy), CareDx carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Universal Health Services’ 2024 bottom line suggests 51% year-over-year growth. UHS witnessed seven upward estimate revisions over the past 60 days against no movement in the opposite direction. It beat earnings estimates in each of the last four quarters, with the average surprise being 14.6%.
The Zacks Consensus Estimate for Tenet Healthcare’s 2024 bottom line is pegged at $10.72 per share, which indicates 53.6% growth from a year ago. During the past 60 days, THC witnessed seven upward estimate revisions against none in the opposite direction. It beat earnings estimates in each of the last four quarters, with the average surprise being 58.5%.
The Zacks Consensus Estimate for CareDx’s current-year earnings implies a 140.6% improvement from the year-ago reported figure. CDNA beat earnings estimates in each of the last four quarters, with an average surprise of 114.6%. The consensus mark for its current-year revenues is pegged at $324.5 million, which indicates a 15.7% year-over-year increase.
Zacks Investment Research
For the full text of this story please click the following link: http://www.moodys.com/page/viewresearchdoc.aspx...
Tenet Healthcare (THC) closed at $164.62 in the latest trading session, marking a +1.36% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.13% for the day. On the other hand, the Dow registered a gain of 0.55%, and the technology-centric Nasdaq decreased by 0.52%.
The hospital operator's shares have seen an increase of 3.67% over the last month, surpassing the Medical sector's gain of 3.34% and aligning with the S&P 500.
The investment community will be closely monitoring the performance of Tenet Healthcare in its forthcoming earnings report. The company is expected to report EPS of $2.33, up 61.81% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $5.05 billion, indicating a 0.41% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.72 per share and a revenue of $20.84 billion, signifying shifts of +53.58% and +1.4%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Tenet Healthcare. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.14% higher. At present, Tenet Healthcare boasts a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Tenet Healthcare is currently being traded at a Forward P/E ratio of 15.15. This valuation marks a discount compared to its industry's average Forward P/E of 16.37.
We can also see that THC currently has a PEG ratio of 0.83. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical - Hospital industry currently had an average PEG ratio of 1.16 as of yesterday's close.
The Medical - Hospital industry is part of the Medical sector. With its current Zacks Industry Rank of 4, this industry ranks in the top 2% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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