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 $1,879,734 were sold by Ramsey R. Scott on Sep 05 ’24. At $162.06 per share, Ramsey R. Scott sold 11,599 shares. The insider’s holdings dropped to 6,324 shares worth approximately $0.99 million following the completion of this transaction.
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Also, FISHER RICHARD W sold 2,000 shares, netting a total of over 327,332 in proceeds. Following the sale of shares at $163.67 each, the insider now holds 14,227 shares.
Before that, FISHER RICHARD W had added 2,000 shares to its account. In a trade valued at $327,335, the Director bought Tenet Healthcare Corp. shares for $163.67 each.
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 drop of approximately -4.97%. Over the course of the year, Tenet Healthcare Corp. shares have jumped approximately 107.41%. Shares of the company reached a 52-week high of $171.20 on 09/23/24 and a 52-week low of $73.21 on 01/05/24. A 50-day SMA is recorded $157.68, while a 200-day SMA reached $119.53. Nevertheless, trading volume fell to 1.29 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 153.96, which, if violated, would cause prices to drop to 151.17. In the upper region, resistance lies at 160.97. The next price resistance is at 165.21. RSI (Relative Strength Index) is 44.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.30, which suggests the price will decrease in the coming days. Percent R is at 86.03%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
