KD Logo

Potential Price Increase for Tenet Healthcare Corp. (THC) After Recent Insider Activity

Tenet Healthcare Corp.’s recently made public that 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 $3.3 million.

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 $0.81 million.

Wolfe Research upgraded its Tenet Healthcare Corp. [THC] rating to an Outperform from a a Peer perform in a research note published recently. A number of analysts have revised their coverage, including Barclays’s analysts, who began to cover the stock in early March with a ‘”an Overweight”‘ rating. Cantor Fitzgerald began covering THC with “an Overweight” recommendation on April 21, 2023. JP Morgan started covering the stock on April 19, 2023. It rated THC as “an Overweight”.

Price Performance Review of THC

On Monday, Tenet Healthcare Corp. [NYSE:THC] saw its stock jump 3.14% to $99.15. Over the last five days, the stock has gained 4.53%. Tenet Healthcare Corp. shares have risen nearly 31.20% since the year began. Nevertheless, the stocks have risen 37.86% over the past one year. While a 52-week high of $107.80 was reached on 03/27/24, a 52-week low of $51.04 was recorded on 01/05/24. SMA at 50 days reached $98.09, while 200 days put it at $78.07. A total of 1.29 million shares were traded, compared to the trading of 1.32 million shares in the previous session.

Levels Of Support And Resistance For THC Stock

The 24-hour chart illustrates a support level at 97.10, which if violated will result in even more drops to 95.06. On the upside, there is a resistance level at 100.23. A further resistance level may holdings at 101.32. The Relative Strength Index (RSI) on the 14-day chart is 52.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 33.28%. Stochastics %K at 55.35% indicates the stock is a holding.

The most recent change occurred on June 17, 2022 when Loop Capital began covering the stock and recommended ‘”a Buy”‘ rating along with a $80 price target.

Most Popular

[the_ad id="945"]