Stocks of Tenet Healthcare Corporation (NYSE:THC) traded higher last session on Wall Street, down -4.52% to $73.28.
According to the data, Tenet Healthcare Corporation (NYSE:THC) has 21 analysts covering its stock. 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 $76.00, we find $88.00. Given the previous closing price of $76.75, this indicates a potential upside of 14.66 percent. THC stock price is now -4.42% away from the 50-day moving average and 23.03% away from the 200-day moving average. The market capitalization of the company currently stands at $7.68B.
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A total of 3 analysts have issued a hold rating and 16 have given it a buy rating. Brokers who have rated the stock have averaged $88.39 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 Corporation (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 $2.42 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 285,786 shares of company stock worth roughly $20.94 million over the past 1 year. A total of 0.90% 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 Corporation shares was purchased by 59 NORTH CAPITAL MANAGEMENT, LP during the first quarter worth $48,923,000. KENSICO CAPITAL MANAGEMENT CORP invested $47,412,000 in shares of THC during the first quarter. In the first quarter, FARALLON CAPITAL MANAGEMENT LLC acquired a new stake in Tenet Healthcare Corporation valued at approximately $28,506,000. PENN CAPITAL MANAGEMENT COMPANY, LLC acquired a new stake in THC for approximately $19,857,000. BRANT POINT INVESTMENT MANAGEMENT LLC purchased a new stake in THC valued at around $11,562,000 in the second quarter. In total, there are 488 active investors with 101.11% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $75.98 for Tenet Healthcare Corporation (NYSE: THC). During the past 12 months, Tenet Healthcare Corporation 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 12.23, a current ratio of 1.40, and a quick ratio of 1.30. According to the stock market information, the enterprise value for the company is $21.79B, which is based on a 18.98 price-to-earnings ratio, a 5.58 price-to-earnings-growth ratio, and a beta of 2.13. The fifty day moving average price for THC is $76.71 and a two-hundred day moving average price translates $59.66 for the stock.
The latest earnings results from Tenet Healthcare Corporation (NYSE: THC) was released for Mar, 2023. The net profit margin was 2.10% and return on equity was 35.30% for THC. The company reported revenue of $5.02 billion for the quarter, compared to $4.75 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.82 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.
