Tenet Healthcare Corporation (NYSE:THC) currently has a daily average trading volume of 1.68M but it saw 2330918 shares traded on Thursday. With a market cap of 6.08B USD, stock’s current market price of $56.88 came rising about 4.89 while comparing to the previous closing price of $54.23. In past 52 weeks, the stock remained buoying in the range of price level as high as $92.65 and as low as $36.69. In the recent trading on the day, stock has struck highest price mark of $57.64 while lowest mark touched by it was $53.01.
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Taking a look at 20-day trading activity of Tenet Healthcare Corporation (THC) gives us an average price of $57.85, while its current price level is -38.61% below from 52-week high level whereas it is 55.02% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $55.57 while that of 200 days or SMA-200 reads an average of $54.21. A closer look into the stock’s movement over the week reveals that its volatility is standing at 5.89% during that period while stretching the period over a month that decreases to 3.89%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 51.32 which implies that the stock is in neutral territory.
The company’s shares got several price updates from the analyst firms in past one month and most recent of them is from the Loop Capital which initiated the stock as “Buy” in its note to investors issued on June 17, 2022, recommending a price target of $80 for it. UBS issued its recommendations for the stock as it upgraded the price target for the stock in the range of between $83 and $111.
Over the week, THC’s stock price is moving 3.55% up while it is -8.04% when we observe its performance for the past one month. Year-to-date it is 16.58% up and over the past year, the stock is showing a downside performance of -34.99%.
The company is expected to be releasing its next quarterly report in 04/19/2023, for which analysts forecasted an EPS of $0 while estimate for next year EPS is $0.
Currently, Tenet Healthcare Corporation’s total number of outstanding shares is 104.52M with 1.43% of that held by the insiders while 102.37% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 11.60% and return on equity (ROE) at 36.40%. It has a price to earnings ratio (P/E ratio) of 15.16 while having a 8.89 of forward P/E ratio. Stock’s beta reads 2.19. Stock has a price to book (P/B) ratio of 5.20 while price to sale or P/S ratio amounts to 0.32. Its return on asset (ROA) is 1.50% on average.
A filing at the U.S. Securities and Exchange Commission revealed that iShares Core S&P Mid Cap ETF came shrinking its share ownership by 0.23% in the Tenet Healthcare Corporation (THC) increasing its stake to 3.30% with control over 7644.0 shares in the company. As per SEC documents, iShares Core S&P Mid Cap ETF sought 3,374,737 of company’s common stock of worth $197.52 million as per recent closing price of the stock. iShares Core S&P Mid Cap ETF is not the only institutional holder which restructured its stake in Tenet Healthcare Corporation, as Vanguard Total Stock Market Index picked 3,309,592 shares of worth $193.71 million to bring its holdings to a total of 18265.0 shares. In the most recent quarter, Vanguard Small Cap Index Fund came rising its stake by 0.55% in the company and now holds 2.8 million or 2.74% of the company’s stake having worth of about 163.95 million.
