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Tuesday, March 21, 2023

Tenet Healthcare Corporation (THC): A Case For Going Higher

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for Tenet Healthcare Corporation (THC) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.30, or 0.49%, to $61.50. The Tenet Healthcare Corporation has recorded 72,196 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that Tenet to Participate in Barclays Global Healthcare Conference.

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Stocks Info

This NYSE-listed company operates within the Medical Care Facilities industry segment, falling under the Healthcare sector. At the end of the last regular session, the stock closed at $61.20 and fluctuated between $61.60 as its day high and $59.36 as its day low. The current market capitalization of Tenet Healthcare Corporation is $6.01B. A total of 1.42 million shares were traded on the day, compared to an average of 1.61M shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, THC has seen 0 BUY and 1 SELL insider trades, representing the acquisition of 0 and the disposition of 9,817 shares. Over the last 12 months, there were 19 BUYs and 13 SELLs from insiders. Insiders purchased 232,633 shares during that period but sold 130,395.

In the most recent transaction, FISHER RICHARD W sold 9,817 shares of THC for 43.86 per share on Dec 06. After the transaction, the Director now owns 24,545 company shares. In a previous transaction on Oct 26, Cancelmi Daniel J bought 11,000 shares at 43.07 per share. THC shares that EVP & Chief Financial Officer owns now total 392,815.

Among the insiders who sold shares, KERREY J ROBERT disposed of 36,766 shares on Aug 11 at a per-share price of $65.56. This resulted in the Director holding 48,798 shares of THC after the transaction. In another insider transaction, FISHER RICHARD W sold 7,439 shares at $62.92 per share on Jul 25. Company shares held by the Director now total 34,362.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for THC in the last 3 months, the mean price target is $72.41 with high estimates of $95.00 and low estimates of $60.00. In terms of 52-week highs and lows, THC has a high of $92.65 and a low of $36.69.

As of this writing, THC has an earnings estimate of $0 per share for the current quarter. EPS was calculated based on a consensus of 0 estimates, with a high estimate of $0 per share and a lower estimate of $0.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 20 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for THC is Sell with a score of 4.80. A total of 14 analysts rated the stock as Buy while 2 rated it as Overweight while 4 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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