The price of Tenet Healthcare Corp. (NYSE:THC) shares last traded on Wall Street fell -0.87% to $60.71.
Based on available information, 20 analysts follow Tenet Healthcare Corp. (NYSE:THC). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $105.00 and a low of $83.00, we find $94.00. Given the previous closing price of $61.24, this indicates a potential upside of 53.49 percent. THC stock price is now -16.01% away from the 50-day moving average and -8.17% away from the 200-day moving average. The market capitalization of the company currently stands at $6.16B.
Among analysts, 4 rate the stock a hold while 15 rate it a buy. Brokers who have rated the stock have averaged $93.82 as their price target over the next twelve months.
With the price target of $73, Cantor Fitzgerald recently initiated with Overweight rating for Tenet Healthcare Corp. (NYSE: THC).
In other news, Arbour Paola M, EVP, Chief Information Officer sold 38,556 shares of the company’s stock on Jun 02. The stock was sold for $2,900,338 at an average price of $75.22. Upon completion of the transaction, the EVP, Chief Information Officer now directly owns 33,006 shares in the company, valued at $2.0 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 19, EVP, Chief Admin. Officer & GC Arnst Thomas W sold 21,178 shares of the business’s stock. A total of $1,548,602 was realized by selling the stock at an average price of $73.12. Insiders disposed of 224,921 shares of company stock worth roughly $13.65 million over the past 1 year. A total of 2.74% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in THC stock. A new stake in Tenet Healthcare Corp. shares was purchased by SAMLYN CAPITAL, LLC during the first quarter worth $60,076,000. BALYASNY ASSET MANAGEMENT L.P. invested $45,779,000 in shares of THC during the first quarter. In the first quarter, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP acquired a new stake in Tenet Healthcare Corp. valued at approximately $38,173,000. JUNTO CAPITAL MANAGEMENT LP acquired a new stake in THC for approximately $26,140,000. VIKING GLOBAL INVESTORS LP purchased a new stake in THC valued at around $22,086,000 in the second quarter. In total, there are 505 active investors with 95.06% ownership of the company’s stock.
A candlestick chart of Tenet Healthcare Corp. (NYSE: THC) showed a price of $61.21 on Thursday morning. During the past 12 months, Tenet Healthcare Corp. has had a low of $36.69 and a high of $85.40. As of last week, the company has a debt-to-equity ratio of 11.20, a current ratio of 1.44, and a quick ratio of 1.35. According to the stock market information, the enterprise value for the company is $20.33B, which is based on a 12.99 price-to-earnings ratio, a 1.70 price-to-earnings-growth ratio, and a beta of 2.17. The fifty day moving average price for THC is $71.96 and a two-hundred day moving average price translates $66.19 for the stock.
The latest earnings results from Tenet Healthcare Corp. (NYSE: THC) was released for Jun, 2023. The net profit margin was 2.51% and return on equity was 41.07% for THC. The company reported revenue of $5.08 billion for the quarter, compared to $4.64 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.57 percent.
Moreover, the firm recently paid out its quarterly dividend on 03/24/2000. Investors who held shares on 03/15/2000 were paid a $0.01 dividend.
