Tenet Healthcare Corporation (THC): From Top to Bottom

Tenet Healthcare Corporation (THC) is an interesting player in the Healthcare space, with a focus on Hospitals. The stock has been active on the tape, currently trading at $24.67, up from yesterday’s close by 2.03%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Tenet Healthcare Corporation (THC) currently trades with a market capitalization of $2.46 Billion. That value represents a market adjusting for revenues that have been growing by 2.43 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of -$337 Million over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of -$0.04 on a per share basis this quarter. Perhaps, that suggests something about why 3.90% of the outstanding share supply is held by institutional investors.

Technical Analysis

We’ve taken a serious look at this stock from a fundamental perspective, but the tale of the tape may offer more hints about what lies under the surface. Looking at the stock’s movement on the chart, Tenet Healthcare Corporation recorded a 52-week high of $24.26. It is now trading -0.41% off that level. The stock is trading $18.55 its 50-day moving average by -6.12%. The stock carved out a 52-week low down at $12.25.

In recent action, Tenet Healthcare Corporation (THC) has made a move of +36.83% over the past month, which has come on weak relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 17.8, and it’s gotten there by action that has been less volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 24.18% with $98.62 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of THC.

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