Tenet Healthcare Corporation [NYSE: THC] loss -30.96% or -16.82 points to close at $37.50 with a heavy trading volume of 15421112 shares.
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It opened the trading session at $40.36, the shares rose to $41.00 and dropped to $36.693, the range by which the price of stock traded the whole day. The daily chart for THC points out that the company has recorded -48.71% loss over the past six months. However, it is still 24.17% lower than its most recent low trading price.
If we look at the average trading volume of 1.19M shares, THC reached to a volume of 15421112 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $92.39 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 1.90. 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.
Loop Capital have made an estimate for Tenet Healthcare Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 17, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Overweight. The new note on the price target was released on March 29, 2022, representing the official price target for Tenet Healthcare Corporation stock. Previously, the target price had yet another raise from $83 to $111, while UBS kept a Buy rating on THC stock.
The Average True Range (ATR) for Tenet Healthcare Corporation is set at 3.66, with the Price to Sales ratio for THC stock in the period of the last 12 months amounting to 0.22. The Price to Book ratio for the last quarter was 3.72, with the Price to Cash per share for the same quarter was set at 12.06. Price to Free Cash Flow for THC in the course of the last twelve months was 10.15 with Quick ratio for the last quarter at 1.30.
Trading performance analysis for THC stock
Tenet Healthcare Corporation [THC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -27.97. With this latest performance, THC shares dropped by -30.06% in over the last four-week period, additionally sinking by -48.71% over the last 6 months – not to mention a drop of -46.77% 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 22.97, with the RSI for the last a single of trading hit 17.74, and the three-weeks RSI is set at 27.66 for Tenet Healthcare Corporation [THC]. The present Moving Average for the last 50 days of trading for this stock 57.16, while it was recorded at 51.41 for the last single week of trading, and 68.83 for the last 200 days.
Tenet Healthcare Corporation [THC]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Tenet Healthcare Corporation [THC] shares currently have an operating margin of +11.38 and a Gross Margin at +11.59. Tenet Healthcare Corporation’s Net Margin is presently recorded at +4.70.
Return on Equity for this stock inclined to 173.30, with Return on Assets sitting at 3.35.
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.
Tenet Healthcare Corporation [THC]: An earnings per share (EPS) analysis
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 8.00%.
An analysis of insider ownership at Tenet Healthcare Corporation [THC]
There are presently around $4,014 million, in the hands of institutional investors. The top three institutional holders of THC stocks are: VANGUARD GROUP INC with ownership of 10,725,070, which is approximately -1.899% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 9,684,316 shares of the stock with an approximate value of $363.16 million in THC stocks shares; and FMR LLC, currently with $260.28 million in THC stock with ownership of nearly 30.58% of the company’s market capitalization.
Positions in Tenet Healthcare Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 199 institutional holders increased their position in Tenet Healthcare Corporation [NYSE:THC] by around 16,927,699 shares. Additionally, 210 investors decreased positions by around 14,691,164 shares, while 51 investors held positions by with 75,427,105 shares. The mentioned changes placed institutional holdings at 107,045,968 shares, according to the latest SEC report filing. THC stock had 64 new institutional investments in for a total of 4,112,828 shares, while 78 institutional investors sold positions of 3,255,608 shares during the same period.