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Saturday, December 9, 2023

Are Things Looking Up For Tenet Healthcare Corp. (NYSE: THC)?

After Hours

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. After-hours trades for Tenet Healthcare Corp. (THC) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $2.38, or 4.36%, to $57.00. The Tenet Healthcare Corp. has recorded 14,465 volume in the after hours trading session. Yahoo Finance discussed the stock recently as it posted Tenet Reports Third Quarter 2023 Results; Raises 2023 Outlook.

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Stocks Info

The company is listed on the NYSE and operates within the Medical Care Facilities industry segment. At the end of the last regular session, the stock closed at $54.62 and fluctuated between $56.22 as its day high and $54.47 as its day low. The current market capitalization of Tenet Healthcare Corp. is $5.55B. A total of 1.62 million shares were traded on the day, compared to an average of 1.46M shares.

Insider Activity

Furthermore, investors take into consideration insider trades when predicting a stock’s future trajectory. During the recent three months, THC has seen 1 BUY and 0 SELL insider trades, representing the acquisition of 2,798 and the disposition of 0 shares. Over the last 12 months, there were 47 BUYs and 32 SELLs from insiders. Insiders purchased 458,898 shares during that period but sold 224,921.

In the most recent transaction, Arbour Paola M sold 38,556 shares of THC for 75.22 per share on Jun 02. After the transaction, the EVP, Chief Information Officer now owns 33,006 company shares. In a previous transaction on May 19, Arnst Thomas W sold 21,178 shares at 73.12 per share. THC shares that EVP, Chief Admin. Officer & GC owns now total 0.

Among the insiders who sold shares, Arnst Thomas W disposed of 1,600 shares on Mar 07 at a per-share price of $60.07. This resulted in the EVP, Chief Admin. Officer & GC holding 21,178 shares of THC after the transaction. In another insider transaction, Arnst Thomas W sold 825 shares at $61.00 per share on Mar 06. Company shares held by the EVP, Chief Admin. Officer & GC now total 22,778.

It has been observed that price targets are rarely accurate, but they can exert some influence from time to time, and are often accepted as valuable in the market. According to analysts who have offered 12-month price targets for THC in the last 3 months, the mean price target is $82.63 with high estimates of $98.00 and low estimates of $64.00. In terms of 52-week highs and lows, THC has a high of $85.40 and a low of $37.96.

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

An equity investor’s investment can be viewed on a balance sheet by looking at what assets and liabilities the company has. Investors can determine the company’s prospects by calculating its financial ratios based on this information. THC’s latest balance sheet shows that the firm has $2.36B in Cash & Short Term Investments as of fiscal 2021. There were $15.65B in debt and $5.11B in liabilities at the time. Its Book Value Per Share was $14.42, while its Total Shareholder’s Equity was $4.26B.

Analysts Opinion

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. Currently, 0 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 Buy with a score of 4.81.

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