Tenet Healthcare Corporation [NYSE: THC] stock went on a downward path that fall over -3.11% on Thursday, amounting to a one-week price increase of more than 3.97%. The company report on July 22, 2021 that Tenet Reports Second Quarter 2021 Results; Raises 2021 Financial Guidance.
Net income from continuing operations available to common shareholders in Q2’21 of $120 million versus net income from continuing operations of $88 million in Q2’20.
Consolidated Adjusted EBITDA in Q2’21 of $834 million ($810 million excluding $24 million of COVID stimulus grant income) versus $732 million in Q2’20 ($209 million excluding $523 million of grant income).
Over the last 12 months, THC stock rose by 182.71%. The one-year Tenet Healthcare Corporation stock forecast points to a potential upside of 5.41. The average equity rating for THC stock is currently 2.20, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $7.55 billion, with 106.31 million shares outstanding and 105.05 million shares in the current float. Compared to the average trading volume of 1.04M shares, THC stock reached a trading volume of 2485893 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Tenet Healthcare Corporation [THC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for THC shares is $74.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on THC stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Seaport Global Securities have made an estimate for Tenet Healthcare Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 09, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on May 03, 2021, representing the official price target for Tenet Healthcare Corporation stock. Previously, the target price had yet another raise to $60, while Jefferies analysts kept a Buy rating on THC stock.
The Average True Range (ATR) for Tenet Healthcare Corporation is set at 2.79, with the Price to Sales ratio for THC stock in the period of the last 12 months amounting to 0.42. The Price to Book ratio for the last quarter was 60.34, with the Price to Cash per share for the same quarter was set at 19.84. Price to Free Cash Flow for THC in the course of the last twelve months was 2.27 with Quick ratio for the last quarter at 1.30.
THC Stock Performance Analysis:
Tenet Healthcare Corporation [THC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.97. With this latest performance, THC shares gained by 2.31% in over the last four-week period, additionally plugging by 39.86% over the last 6 months – not to mention a rise of 182.71% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for THC stock in for the last two-week period is set at 55.66, with the RSI for the last a single of trading hit 56.08, and the three-weeks RSI is set at 55.89 for Tenet Healthcare Corporation [THC]. The present Moving Average for the last 50 days of trading for this stock 66.94, while it was recorded at 68.81 for the last single week of trading, and 50.01 for the last 200 days.
Insight into Tenet Healthcare Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Tenet Healthcare Corporation [THC] shares currently have an operating margin of +7.13 and a Gross Margin at +7.29. Tenet Healthcare Corporation’s Net Margin is presently recorded at +2.26.
Return on Total Capital for THC is now 6.70, given the latest momentum, and Return on Invested Capital for the company is 2.52. When it comes to the capital structure of this company, Tenet Healthcare Corporation [THC] has a Total Debt to Total Equity ratio set at 60,378.57. Additionally, THC Total Debt to Total Capital is recorded at 99.83, with Total Debt to Total Assets ending up at 62.37. Long-Term Debt to Equity for the company is recorded at 59,189.29, with the Long-Term Debt to Total Capital now at 97.87.
Reflecting on the efficiency of the workforce at the company, Tenet Healthcare Corporation [THC] managed to generate an average of $3,627 per employee. Receivables Turnover for the company is 5.71 with a Total Asset Turnover recorded at a value of 0.70.Tenet Healthcare Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.40.
THC Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for THC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Tenet Healthcare Corporation go to 1.90%.
Tenet Healthcare Corporation [THC] Insider Position Details
There are presently around $6,922 million, or 90.20% of THC stock, in the hands of institutional investors. The top three institutional holders of THC stocks are: GLENVIEW CAPITAL MANAGEMENT, LLC with ownership of 13,725,320, which is approximately -24.829% of the company’s market cap and around 1.60% of the total institutional ownership; BLACKROCK INC., holding 13,136,391 shares of the stock with an approximate value of $919.55 million in THC stocks shares; and VANGUARD GROUP INC, currently with $797.76 million in THC stock with ownership of nearly -0.092% of the company’s market capitalization.
Positions in Tenet Healthcare Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 139 institutional holders increased their position in Tenet Healthcare Corporation [NYSE:THC] by around 12,273,013 shares. Additionally, 160 investors decreased positions by around 12,600,349 shares, while 48 investors held positions by with 74,012,765 shares. The mentioned changes placed institutional holdings at 98,886,127 shares, according to the latest SEC report filing. THC stock had 63 new institutional investments in for a total of 7,698,933 shares, while 39 institutional investors sold positions of 1,768,015 shares during the same period.