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Tenet Healthcare Corporation (THC) Volatility At 2.65%, Should You Add A Position?

Tenet Healthcare Corporation (NYSE: THC) is 42.02% higher on its value in year-to-date trading and has touched a low of $36.69 and a high of $74.10 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The THC stock was last observed hovering at around $68.90 in the last trading session, with the day’s gains setting it 0.39% off its average median price target of $84.00 for the next 12 months. It is also 34.01% off the consensus price target high of $105.00 offered by 20 analysts, but current levels are 8.83% higher than the price target low of $76.00 for the same period.

Currently trading at $69.29, the stock is -2.20% and 6.74% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.34 million and changing 0.57% at the moment leaves the stock 24.54% off its SMA200. THC registered 11.36% gain for a year compared to 6-month gain of 55.81%. The firm has a 50-day simple moving average (SMA 50) of $1.11 and a 200-day simple moving average (SMA200) of $7.02.

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The stock witnessed a -3.31% loss in the last 1 month and extending the period to 3 months gives it a 16.87%, and is -5.30% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.65% over the week and 2.61% over the month.

Tenet Healthcare Corporation (THC) has around 75776 employees, a market worth around $7.09B and $19.45B in sales. Current P/E ratio is 17.95 and Fwd P/E is 10.52. Profit margin for the company is 2.10%. Distance from 52-week low is 88.84% and -6.49% from its 52-week high. The company has generated returns on investments over the last 12 months (11.60%).

Tenet Healthcare Corporation (THC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Tenet Healthcare Corporation (THC) is a “Buy”. 20 analysts offering their recommendations for the stock have an average rating of 2.00, where 2 rate it as a Hold and 2 think it is a “Overweight”. 16 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Tenet Healthcare Corporation is expected to release its quarterly report on 07/20/2023.The EPS is expected to shrink by -56.00% this year

Tenet Healthcare Corporation (THC) Top Institutional Holders

The shares outstanding are 102.29M, and float is at 100.56M with Short Float at 4.52%.

Tenet Healthcare Corporation (THC) Insider Activity

A total of 52 insider transactions have happened at Tenet Healthcare Corporation (THC) in the last six months, with sales accounting for 28 and purchases happening 24 times. The most recent transaction is an insider sale by Arnst Thomas W, the company’s EVP, Chief Admin. Officer & GC. SEC filings show that Arnst Thomas W sold 21,178 shares of the company’s common stock on May 19 at a price of $73.12 per share for a total of $1.55 million. Following the sale, the insider now owns 0.0 shares.

Tenet Healthcare Corporation disclosed in a document filed with the SEC on Mar 07 that Arnst Thomas W (EVP, Chief Admin. Officer & GC) sold a total of 1,600 shares of the company’s common stock. The trade occurred on Mar 07 and was made at $60.07 per share for $96112.0. Following the transaction, the insider now directly holds 21178.0 shares of the THC stock.

Still, SEC filings show that on Mar 06, Arnst Thomas W (EVP, Chief Admin. Officer & GC) disposed off 825 shares at an average price of $61.00 for $50325.0. The insider now directly holds 22,778 shares of Tenet Healthcare Corporation (THC).

Tenet Healthcare Corporation (THC): Who are the competitors?

The company’s main competitors (and peers) include Select Medical Holdings Corporation (SEM) that is trading 12.10% up over the past 12 months and Community Health Systems Inc. (CYH) that is -41.75% lower over the same period. Pediatrix Medical Group Inc. (MD) is -27.37% down on the 1-year trading charts.

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