Tenet Healthcare Corporation (NYSE:THC) finished Wednesday with a subtraction of -$0.01 to close at $73.18, a downside of -0.01 percent. An average of 1,271,860 shares of common stock have been traded in the last five days. There was a fall of -$0.92 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 1,426,525 shares traded, while the 50-day average volume stands at 1,329,824.
THC stock has decreased by -11.19% in the last month. The company shares reached their 1-month lowest point of $72.64 on 08/08/23. With the stock rallying to its 52-week high on 06/14/23, shares of the company touched a low of $36.69 and a high of $85.40 in 52 weeks. It has reached a new high 29 times so far this year and achieved 49.99% or $24.39 in price. In spite of this, the price is down -14.31% from the 52-week high.
Insider Transactions
THC stock investors should be aware that Tenet Healthcare Corporation (THC) stock had its last reported insider trading activity 69 days ago on Jun 02. In this transaction, the insider spent $2,900,338. EVP, Chief Admin. Officer & GC, Arnst Thomas W, disposed of 21,178 shares at a price of $73.12 on May 19. The insider now owns more than $1,548,602 worth of shares. Prior to that, EVP, Chief Admin. Officer & GC Arnst Thomas W went on to Sale 1,600 shares at $60.07 each on Mar 07. An amount of $96,112 was transacted.
Valuation Metrics
Tenet Healthcare Corporation (THC) has a trailing price-to-earnings (P/E) ratio of 15.62. The stock’s beta is 2.14. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.37, the price-to-book (PB) ratio at 5.54, and the price-to-cash flow ratio at 7.72.
Financial Health
The quick ratio of Tenet Healthcare Corporation for the recent quarter was 1.30, and the current ratio was 1.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 11.10 and a total debt to equity ratio of 11.20 for the recent quarter. Tenet Healthcare Corporation’s EBITDA margin is 15.95%, while its operating margin for the same period stands at 11.70%. Its gross profit as reported stood at $7.06 billion compared to revenue of $19.17 billion.
Earnings Surprise
For the recent quarter, Tenet Healthcare Corporation had $14.91 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $123.0 million in the quarter, while revenues were grew 69.11%. Shareholders own equity worth $101.53 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Tenet Healthcare Corporation (THC) price momentum. RSI 9-day as of the close on 09 August was 35.17%, suggesting the stock is Neutral, with historical volatility in this time frame at 31.96%.
As of today, THC’s price is $74.18 -1.24% or -$0.92 from its 5-day moving average. THC is currently trading -12.31% lower than its 20-day SMA and +28.66% higher than its 100-day SMA. However, the stock’s current price level is +4.11% above the SMA50 and +34.72% above the SMA200.
The stochastic %K and %D were 15.11% and 18.21%, respectively, and the average true range (ATR) was 2.41. With the 14-day stochastic at 7.44% and the average true range at 2.38, the RSI (14) stands at 38.22%. The stock has reached -0.52 on the 9-day MACD Oscillator while the 14-day reading was at -1.10.
Analyst Ratings
Cantor Fitzgerald launched coverage on Tenet Healthcare Corporation (NYSE: THC) in its analyst report released on April 21, 2023. The firm assigned the stock an Overweight rating. The consensus rating for Tenet Healthcare Corporation (THC) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell THC, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 15 others rate it as a “buy”.
What is THC’s price target for the next 12 months?
Analysts predict a range of price targets between $83.00 and $105.00, with a median target of $92.00. Taking a look at these predictions, the average price target given by analysts for Tenet Healthcare Corporation (THC) stock is $93.00.
