Wolfe Research raised the price target for the Tenet Healthcare Corp. (NYSE:THC) stock from “a Peer perform” to “an Outperform”. The rating was released on Mar-28-24, according to finviz. The research report from Cantor Fitzgerald has initiated the stock to Overweight, with a price target set at $73. The stock was initiated by JP Morgan, who disclosed in a research note on April 19, 2023, to Overweight and set the price objective to $72. In their research brief published June 17, 2022, Loop Capital analysts initiated the Tenet Healthcare Corp. stock to Buy with a price target of $80.
Historical Earnings Surprises and Revenue Forecasts
It appears that the average earnings per share estimate for the current quarter (ending in Oct 2023) is $0. This is an average of 0 analysts’ earnings, where the high earnings per share estimate is $0 and the low earnings per share estimate is $0. According to 1 analyst estimates, an average revenue estimate of $9.12M is projected for the current quarter with a high revenue estimate of $9.12M and a low estimate of $9.12M.
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The latest trade, Performances and Moving Averages give us the following Picture
The firm’s stock price fluctuated 2.22% within the last five trades and 16.23% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 57.96% in the last 6 months and 36.51% was added to its value over the previous 3 months. THC stock is trading at a margin of 6.36%, 14.75% and 38.48% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
As of the close of trading, THC deals in the Healthcare domain. The stock is trading 0.15 percent below its 52-week high and 105.47 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 87.1. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Tenet Healthcare Corp.’s Profitability and Valuation Ratios Tell Us About the Stock?
With regard to the profitability of the company, the operating margin is currently at 11.81 percent and the profit margin is 2.97 percent, and the company has reported a gross margin of 11.92 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.
The stock’s market cap achieved a total value of $10.49 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio for Tenet Healthcare Corp. (NYSE:THC) is 17.98. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 14.57. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 0.51 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 6.52, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 3.15 percent of Tenet Healthcare Corp. shares are owned by insiders, and 94.81 percent are held by financial institutions. MARK RICHARD J, the Director at Tenet Healthcare Corp. (THC) has sold 14,000 shares of firm on Mar 12 ’24 at a price of $98.98 against the total amount of $1.39 million. In another inside trade, Arbour Paola M, EVP, Chief Information Officer of Tenet Healthcare Corp. (NYSE:THC) sold 18,168 shares of the firm on Mar 06 ’24 for a total worth of $1.76 million at a price of $96.96. An inside trade which took place on Mar 01 ’24, EVP, Chief Admin. Officer & GC of Tenet Healthcare Corp. Arnst Thomas W sold 17,000 shares of firm against total price of $1.61 million at the cost of $94.84 per share.
