As of Thursday close, Tenet Healthcare Corporation’s (NYSE:THC) stock was down -$2.26, moving down -3.25 percent to $67.33. The average number of shares traded per day over the past five days has been 1,061,100 shares. 2 times new highs have been achieved over the past 5 days, with a -$4.00 fall in that time frame. In the last twenty days, the average volume was 1,034,200, while in the previous 50 days, it was 1,210,158.
Since last month, THC stock retreated -7.36%. Shares of the company fell to $67.30 on 09/21/23, the lowest level in the past month. A 52-week high of $85.40 was reached on 06/14/23 after having rallying from a 52-week low of $36.69. Since the beginning of this year, THC’s stock price has risen by 38.00% or $18.54, and marked a new high 29 times. However, the stock has declined by -21.16% since its 52-week high.
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THC stock investors should be aware that Tenet Healthcare Corporation (THC) stock had its last reported insider trading activity 112 days ago on Jun 02. Arbour Paola M, the EVP, Chief Information Officer of the company, disposed of 38,556 shares for $75.22 on Jun 02. It resulted in a $2,900,338 divestment by the insider. Arnst Thomas W sold 21,178 shares at an average price of $73.12 on May 19. The insider now owns 0 shares following the transaction. On Mar 07, EVP, Chief Admin. Officer & GC Arnst Thomas W sold 1,600 shares at $60.07 apiece. The transaction was valued at $96,112.
Valuation Metrics
Right now, Tenet Healthcare Corporation (THC) has a P/E ratio of about 14.37. The stock’s beta is 2.14. Besides these, the trailing price-to-sales (P/S) ratio of 0.35, the price-to-book (PB) ratio of 5.10, and the price-to-cash flow ratio of 7.27 may also be considered.
Financial Health
In the recent quarter, Tenet Healthcare Corporation’s quick ratio stood at 1.30, while its current ratio was 1.40, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the recent quarter was 11.10, and the total debt-to-equity ratio was 11.20. On the profitability front, the trailing twelve-month gross margin is 82.60% percent. In the recent year, EBITDA margin amounted to 15.95%, whereas operating margins totaled 11.70%. Based on annual data, THC earned $7.06 billion in gross profit and brought in $19.17 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 11.60%. Return on equity (ROE) for the past 12 months was 40.30%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. THC’s revenue rose 8.74% to $5.02 billion during the quarter, while net income inched up to $5.08 billion. During the quarter, the company generated $880.0 million in EBITDA. The liabilities of Tenet Healthcare Corporation were 24.43 billion at the end of its most recent quarter, and its total debt was $15.05 billion. The value of shareholders’ equity is $101.53 million.
Technical Picture
This quick technical analysis looks at Tenet Healthcare Corporation’s (THC) price momentum. With a historical volatility rate of 23.05%, the RSI 9-day stood at 25.07% on 21 September.
With respect to its five-day moving average, the current Tenet Healthcare Corporation price is down by -5.61% percent or -$4.00. At present, THC shares trade -10.35% below its 20-day simple moving average and -8.17% percent below its 100-day simple moving average. However, the stock is currently trading approximately -19.32% below its SMA50 and +48.70% above its SMA200.
Stochastic coefficient K was 5.50% and Stochastic coefficient D was 7.96%, while ATR was 1.87. Given the Stochastic reading of 0.25% for the 14-day period, the RSI (14) reading has been calculated as 31.45%. As of today, the MACD Oscillator reading stands at -1.37, while the 14-day reading stands at -3.44.
Analyst Ratings
Cantor Fitzgerald launched its rating on Tenet Healthcare Corporation (NYSE: THC) to an Overweight in a note to investors on April 21, 2023. Tenet Healthcare Corporation (THC) has been rated Buy by analysts. According to 0 brokerage firms, THC is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Tenet Healthcare Corporation stock as buy, with 15 recommending it as overweight.
With a median target price of $94.00, the current consensus forecast for the stock is $83.00 – $105.00. Based on these forecasts, analysts predict Tenet Healthcare Corporation (THC) will achieve an average price target of $93.82.
