The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $1.0 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 KeyBanc Capital Markets on October 11, 2024, Tenet Healthcare Corp. [THC] has been an Overweight and the price target has been revised to $200. Analysts at Robert W. Baird started covering the stock with ‘”an Outperform”‘ outlook in a report released in late May. As of March 27, 2024, Wolfe Research has increased its “Peer perform” rating to a “an Outperform” for THC. Earlier on March 06, 2024, Barclays 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 -3.91%. Over the course of the year, Tenet Healthcare Corp. shares have jumped approximately 108.57%. 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 $160.04, while a 200-day SMA reached $125.24. Nevertheless, trading volume fell to 0.87 million shares from 0.77 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 155.71, which, if violated, would cause prices to drop to 153.79. In the upper region, resistance lies at 159.69. The next price resistance is at 161.75. RSI (Relative Strength Index) is 47.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.87, which suggests the price will decrease in the coming days. Percent R is at 44.39%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
