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 $623,744 were sold by Foo Lisa Y on Oct 31 ’24. At $155.94 per share, Foo Lisa Y sold 4,000 shares. The insider’s holdings dropped to 15,566 shares worth approximately $2.21 million following the completion of this transaction.
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Also, Foo Lisa Y purchased 4,000 shares, netting a total of over 623,727 in proceeds.
Before that, Ramsey R. Scott had sold 11,599 shares from its account. In a trade valued at $1,879,734, the Principal Accounting Officer traded Tenet Healthcare Corp shares for $162.06 each. Upon closing the transaction, the insider’s holdings decreased to 11,599 shares, worth approximately $0.9 million.
As published in a research note from Wells Fargo on November 25, 2024, Tenet Healthcare Corp [THC] has been rated down from an Overweight to an Equal weight and the price target has been revised to $150 from $205. Analysts at Raymond James downgraded the stock from ‘”a Strong buy”‘ to ‘”an Outperform”‘ outlook in a report released in late November. As of October 11, 2024, KeyBanc Capital Markets has initiated its “an Overweight” rating for THC. Earlier on May 30, 2024, Robert W. Baird initiated its rating. Their recommendation was “an Outperform” for THC stock.
Analyzing THC Stock Performance
During the last five days, there has been a drop of approximately -6.49%. Over the course of the year, Tenet Healthcare Corp shares have jumped approximately 87.88%. 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 $157.83, while a 200-day SMA reached $134.13. Nevertheless, trading volume fell to 1.28 million shares from 1.43 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 140.06, which, if violated, would cause prices to drop to 138.15. In the upper region, resistance lies at 145.67. The next price resistance is at 149.37. RSI (Relative Strength Index) is 35.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -10.52, which suggests the price will decrease in the coming days. Percent R is at 89.96%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
