In a filing, Tenet Healthcare Corp. revealed its Director MARK RICHARD J unloaded Company’s shares for reported $1.39 million on Mar 12 ’24. In the deal valued at $98.98 per share,14,000 shares were sold. As a result of this transaction, MARK RICHARD J now holds 33,303 shares worth roughly $3.42 million.
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Then, Arbour Paola M sold 18,168 shares, generating $1,761,569 in total proceeds. Upon selling the shares at $96.96, the EVP, Chief Information Officer now owns 29,803 shares.
Before that, Arnst Thomas W sold 17,000 shares. Tenet Healthcare Corp. shares valued at $1,612,234 were divested by the EVP, Chief Admin. Officer & GC at a price of $94.84 per share. As a result of the transaction, Arnst Thomas W now holds 8,148 shares, worth roughly $0.84 million.
Barclays initiated its Tenet Healthcare Corp. [THC] rating to an Overweight in a research note published on March 06, 2024; the price target was $113. A number of analysts have revised their coverage, including Cantor Fitzgerald’s analysts, who began to cover the stock in late April with a ‘”an Overweight”‘ rating. JP Morgan began covering THC with “an Overweight” recommendation on April 19, 2023. Loop Capital started covering the stock on June 17, 2022. It rated THC as “a Buy”.
Price Performance Review of THC
On Monday, Tenet Healthcare Corp. [NYSE:THC] saw its stock jump 0.61% to $102.67. Over the last five days, the stock has gained 2.28%. Tenet Healthcare Corp. shares have risen nearly 35.86% since the year began. Nevertheless, the stocks have risen 86.13% over the past one year. While a 52-week high of $104.71 was reached on 03/21/24, a 52-week low of $51.04 was recorded on 01/05/24. SMA at 50 days reached $90.97, while 200 days put it at $75.60. A total of 0.52 million shares were traded, compared to the trading of 0.64 million shares in the previous session.
Levels Of Support And Resistance For THC Stock
The 24-hour chart illustrates a support level at 102.12, which if violated will result in even more drops to 101.57. On the upside, there is a resistance level at 103.22. A further resistance level may holdings at 103.77. The Relative Strength Index (RSI) on the 14-day chart is 69.91, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.37, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 19.98%. Stochastics %K at 81.57% indicates the stock is a selling.
How much short interest is there in Tenet Healthcare Corp.?
A steep rise in short interest was recorded in Tenet Healthcare Corp. stocks on Feb 29, 2024, growing by 0.24 million shares to a total of 4.03 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 3.79 million shares. There was a rise of 5.96%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.30% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.34.
The most recent change occurred on March 29, 2022 when Wells Fargo began covering the stock and recommended ‘”an Overweight”‘ rating along with a $100 price target.
