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 $1,306,812 were sold by Arbour Paola M on Aug 16 ’24. At $156.00 per share, Arbour Paola M sold 8,377 shares. The insider’s holdings dropped to 21,426 shares worth approximately $3.44 million following the completion of this transaction.
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Also, Sutaria Saumya sold 86,227 shares, netting a total of over 13,314,523 in proceeds. Following the sale of shares at $154.41 each, the insider now holds 13,773 shares.
Before that, Sutaria Saumya had sold 13,773 shares from its account. In a trade valued at $2,129,246, the Chairman & CEO traded Tenet Healthcare Corp. shares for $154.60 each. Upon closing the transaction, the insider’s holdings decreased to 13,773 shares, worth approximately $0.0.
As published in their initiating research note from Robert W. Baird on May 30, 2024, Tenet Healthcare Corp. [THC] has been an Outperform and the price target has been revised to $153. Analysts at Wolfe Research upgraded the stock from ‘”a Peer perform”‘ to ‘”an Outperform”‘ outlook in a report released in late March. As of March 06, 2024, Barclays has initiated its “an Overweight” rating for THC. Earlier on April 21, 2023, Cantor Fitzgerald initiated its rating. Their recommendation was “an Overweight” for THC stock.
Analyzing THC Stock Performance
During the last five days, there has been a surge of approximately 3.45%. Over the course of the year, Tenet Healthcare Corp. shares have jumped approximately 112.39%. Shares of the company reached a 52-week high of $161.65 on 08/22/24 and a 52-week low of $73.21 on 01/05/24. A 50-day SMA is recorded $141.95, while a 200-day SMA reached $105.49. Nevertheless, trading volume fell to 0.74 million shares from 0.67 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 158.88, which, if violated, would cause prices to drop to 157.25. In the upper region, resistance lies at 161.89. The next price resistance is at 163.27. RSI (Relative Strength Index) is 72.96 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.34, which suggests the price will increase in the coming days. Percent R is at 4.12%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
