Here's Why Tenet Healthcare (THC) is a Strong Momentum Stock
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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Tenet Healthcare (THC)
Founded in 1967 and headquartered in Dallas, TX, Tenet Healthcare Corp., is an investor-owned health care services company, which owns and operates general hospitals and related health care facilities for urban and rural communities in numerous states, and has offices in California and Florida. The company has investments in other health care companies and is one of the largest investor-owned health care delivery systems in the United States.
THC boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Tenet Healthcare has seen some interesting price action recently; the stock is up 6.5% over the past one week and up 1.8% over the past four weeks. And in the last one-year period, THC has gained 194.3%. As for the stock's trading volume, 1,096,833.75 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, two analysts revised their earnings estimate higher in the last 60 days for THC, while the Zacks Consensus Estimate has increased $0 to $10.72 per share. THC also boasts an average earnings surprise of 58.5%.
THC should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Tenet Healthcare Corporation (THC) : Free Stock Analysis Report