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Team Health Holdings (NYSE:TMH)’s share price reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings, American Banking and Market News reports. The stock traded as high as $50.33 and last traded at $48.39, with a volume of 652,013 shares. The stock had previously closed at $47.29.

The company reported $0.54 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.50 by $0.04. The company had revenue of $641.65 million for the quarter, compared to the consensus estimate of $646.83 million. During the same quarter last year, the company posted $0.44 earnings per share. Team Health Holdings’s revenue was up 11.4% compared to the same quarter last year.

Several analysts have recently commented on the stock. Analysts at Piper Jaffray raised their price target on shares of Team Health Holdings from $52.00 to $55.00 in a research note on Wednesday. They now have an “overweight” rating on the stock. Analysts at UBS AG initiated coverage on shares of Team Health Holdings in a research note on Tuesday, March 11th. They set a “buy” rating and a $54.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Team Health Holdings currently has a consensus rating of “Buy” and an average target price of $50.78.

The stock has a 50-day moving average of $45.33 and a 200-day moving average of $45.17. The company has a market cap of $3.396 billion and a P/E ratio of 38.14.

Team Health Holdings, Inc is a supplier of outsourced healthcare professional staffing and administrative services to hospitals and other healthcare providers in the United States, based upon revenues, patient visits, and number of clients.

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