Tenet Healthcare Corporation (NYSE:THC) has tumbled 6.02% during the past week and has dropped 2.86% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 4.89%. Tenet Healthcare Corporation (NYSE:THC) has underperformed the index by 3.75% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Tenet Healthcare Corporation (NYSE:THC): The stock opened at $27.45 on Friday but the bulls could not build on the opening and the stock topped out at $28.20 for the day. The stock traded down to $27.06 during the day, due to lack of any buying support eventually closed down at $27.16 with a loss of -1.02% for the day. The stock had closed at $27.44 on the previous day. The total traded volume was 1,821,585 shares.
The company shares have dropped -48.42% from its 1 Year high price. On Jul 14, 2015, the shares registered one year high at $60.93 and the one year low was seen on Feb 16, 2016. The 50-Day Moving Average price is $29.47 and the 200 Day Moving Average price is recorded at $28.34.
On the companys insider trading activities, The director officer (Chairman and CEO), of Tenet Healthcare Corp, Fetter Trevor had unloaded 83,443 shares at $60.02 per share in a transaction on July 6, 2015. The total value of transaction was $5,008,249. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. In a research note released to the investors, Ladenburg Thalmann upgrades its rating on Tenet Healthcare Corporation (NYSE:THC).The analysts at the brokerage house have a current rating of Underperform on the shares. Earlier, the shares were rated a Not Rated by the brokerage firm. The rating by the firm was issued on June 13, 2016. Currently the company Insiders own 2.9% of Tenet Healthcare Corporation shares according to the proxy statements.
Tenet Healthcare Corporation is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets. As of December 31, 2014, it operated 80 hospitals, 210 outpatient centers, six health plans and Conifer Health Solutions, LLC (Conifer), which provides healthcare business process services in the areas of revenue cycle management, value-based care and patient communications. It provides operational management for revenue cycle functions, including patient access, health information management, revenue integrity and patient financial services. It also offers communications and engagement solutions to optimize the relationship between providers and patients. Conifer operates a management services business that supports value-based performance through clinical integration, financial risk management and population health management. It has two operating segments: Hospital Operations and other, and Conifer.