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Recent Insider Activity Suggests Potential Gains for Tenet Healthcare Corp. (THC)

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Tenet Healthcare Corp.’s recent filing unveils that its Director KERREY J ROBERT unloaded Company’s shares for reported $1.27 million on May 31 ’24. In the deal valued at $133.40 per share,9,500 shares were sold. As a result of this transaction, KERREY J ROBERT now holds 0 shares worth roughly $0.0.

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Then, KERREY J ROBERT sold 14,322 shares, generating $1,919,238 in total proceeds. Upon selling the shares at $134.01, the Director now owns 46,403 shares.

Before that, Lynch Christopher S. sold 10,861 shares. Tenet Healthcare Corp. shares valued at $1,453,528 were divested by the Director at a price of $133.83 per share. As a result of the transaction, Lynch Christopher S. now holds 14,759 shares, worth roughly $1.97 million.

Robert W. Baird initiated its Tenet Healthcare Corp. [THC] rating to an Outperform in a research note published on May 30, 2024; the price target was $153. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who increased its forecast for the stock in late March from “a Peer perform” to “an Outperform”. Barclays began covering THC with “an Overweight” recommendation on March 06, 2024. Cantor Fitzgerald started covering the stock on April 21, 2023. It rated THC as “an Overweight”.

Price Performance Review of THC

On Friday, Tenet Healthcare Corp. [NYSE:THC] saw its stock fall -0.71% to $133.73. Over the last five days, the stock has lost -1.10%. Tenet Healthcare Corp. shares have risen nearly 76.96% since the year began. Nevertheless, the stocks have risen 79.17% over the past one year. While a 52-week high of $136.80 was reached on 06/05/24, a 52-week low of $51.04 was recorded on 01/05/24. SMA at 50 days reached $115.50, while 200 days put it at $85.48. A total of 1.21 million shares were traded, compared to the trading of 0.74 million shares in the previous session.

Levels Of Support And Resistance For THC Stock

The 24-hour chart illustrates a support level at 132.91, which if violated will result in even more drops to 132.09. On the upside, there is a resistance level at 134.70. A further resistance level may holdings at 135.68. The Relative Strength Index (RSI) on the 14-day chart is 65.02, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.33, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 34.30%. Stochastics %K at 76.84% indicates the stock is a holding.

The most recent change occurred on April 19, 2023 when JP Morgan began covering the stock and recommended ‘”an Overweight”‘ rating along with a $72 price target.

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