Tenet Healthcare Corp. (NYSE: THC) has experienced a rise in its stock price by 0.71 compared to its previous closing price of 101.10. However, the company has seen a gain of 1.10% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-05 that In the closing of the recent trading day, Tenet Healthcare (THC) stood at $102.18, denoting a +1.46% change from the preceding trading day.
Is It Worth Investing in Tenet Healthcare Corp. (NYSE: THC) Right Now?
Tenet Healthcare Corp. (NYSE: THC) has a price-to-earnings ratio of 17.46x that is above its average ratio. Additionally, the 36-month beta value for THC is 2.14. There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 3 rating it as “overweight,” 12 rating it as “hold,” and 0 rating it as “sell.”
The public float for THC is 96.97M and currently, short sellers hold a 4.39% ratio of that float. The average trading volume of THC on April 12, 2024 was 1.15M shares.
THC’s Market Performance
The stock of Tenet Healthcare Corp. (THC) has seen a 1.10% increase in the past week, with a 1.86% rise in the past month, and a 27.29% gain in the past quarter. The volatility ratio for the week is 2.11%, and the volatility levels for the past 30 days are at 2.24% for THC. The simple moving average for the last 20 days is -0.32% for THC’s stock, with a simple moving average of 32.20% for the last 200 days.
Analysts’ Opinion of THC
Many brokerage firms have already submitted their reports for THC stocks, with Wolfe Research repeating the rating for THC by listing it as a “Outperform.” The predicted price for THC in the upcoming period, according to Wolfe Research is $122 based on the research report published on March 27, 2024 of the current year 2024.
Barclays, on the other hand, stated in their research note that they expect to see THC reach a price target of $113. The rating they have provided for THC stocks is “Overweight” according to the report published on March 06th, 2024.
Cantor Fitzgerald gave a rating of “Overweight” to THC, setting the target price at $73 in the report published on April 21st of the previous year.
THC Trading at 6.40% from the 50-Day Moving Average
After a stumble in the market that brought THC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -5.55% of loss for the given period.
Volatility was left at 2.24%, however, over the last 30 days, the volatility rate increased by 2.11%, as shares surge +1.43% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +23.06% upper at present.
During the last 5 trading sessions, THC rose by +1.10%, which changed the moving average for the period of 200-days by +29.51% in comparison to the 20-day moving average, which settled at $102.22. In addition, Tenet Healthcare Corp. saw 34.74% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at THC starting from MARK RICHARD J, who sale 14,000 shares at the price of $98.98 back on Mar 12 ’24. After this action, MARK RICHARD J now owns 33,303 shares of Tenet Healthcare Corp., valued at $1,385,720 using the latest closing price.
Arbour Paola M, the EVP, Chief Information Officer of Tenet Healthcare Corp., sale 18,168 shares at $96.96 during a trade that took place back on Mar 06 ’24, which means that Arbour Paola M is holding 29,803 shares at $1,761,569 based on the most recent closing price.
Stock Fundamentals for THC
Current profitability levels for the company are sitting at:
- 0.12 for the present operating margin
- 0.64 for the gross margin
The net margin for Tenet Healthcare Corp. stands at 0.04. The total capital return value is set at 0.11. Equity return is now at value 44.44, with 2.20 for asset returns.
Based on Tenet Healthcare Corp. (THC), the company’s capital structure generated 0.9 points at debt to capital in total, while cash flow to debt ratio is standing at 0.16. The debt to equity ratio resting at 9.38. The interest coverage ratio of the stock is 2.77.
Currently, EBITDA for the company is 3.3 billion with net debt to EBITDA at 4.31. When we switch over and look at the enterprise to sales, we see a ratio of 1.22. The receivables turnover for the company is 5.15for trailing twelve months and the total asset turnover is 0.73. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.51.
Conclusion
In conclusion, Tenet Healthcare Corp. (THC) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
