Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Tenet Healthcare Corp. shares valued at $1,385,720 were sold by MARK RICHARD J on Mar 12 ’24. At $98.98 per share, MARK RICHARD J sold 14,000 shares. The insider’s holdings dropped to 33,303 shares worth approximately $3.03 million following the completion of this transaction.
Also, Arbour Paola M sold 18,168 shares, netting a total of over 1,761,569 in proceeds. Following the sale of shares at $96.96 each, the insider now holds 29,803 shares.
Before that, Arnst Thomas W had sold 17,000 shares from its account. In a trade valued at $1,612,234, the EVP, Chief Admin. Officer & GC traded Tenet Healthcare Corp. shares for $94.84 each. Upon closing the transaction, the insider’s holdings decreased to 17,000 shares, worth approximately $0.74 million.
As published in a research note from Wolfe Research on March 27, 2024, Tenet Healthcare Corp. [THC] has been rated up from a Peer perform to an Outperform and the price target has been revised to $122. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in early March. As of April 21, 2023, Cantor Fitzgerald has initiated its “an Overweight” rating for THC. Earlier on April 19, 2023, JP Morgan initiated its rating. Their recommendation was “an Overweight” for THC stock.
Analyzing THC Stock Performance
During the last five days, there has been a drop of approximately -10.55%. Over the course of the year, Tenet Healthcare Corp. shares have jumped approximately 20.52%. Shares of the company reached a 52-week high of $107.80 on 03/27/24 and a 52-week low of $73.21 on 01/05/24. A 50-day SMA is recorded $96.99, while a 200-day SMA reached $77.54. Nevertheless, trading volume fell to 2.38 million shares from 1.21 million shares the previous day.
Support And Resistance Levels for Tenet Healthcare Corp. (THC)
According to the 24-hour chart, there is a support level at 89.38, which, if violated, would cause prices to drop to 87.67. In the upper region, resistance lies at 93.44. The next price resistance is at 95.80. RSI (Relative Strength Index) is 28.09 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.24, which suggests the price will decrease in the coming days. Percent R is at 92.96%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
