In a recent transaction, Nadja West, a director at Tenet Healthcare Corp (NYSE:THC), sold 1,782 shares of the company's stock. The shares were sold at a price of $126.41 each, totaling approximately $225,262.
The transaction, which took place on May 9, 2024, was disclosed through a regulatory filing with the Securities and Exchange Commission. Following the sale, West's direct holdings in Tenet Healthcare stand at 29,680 shares.
Tenet Healthcare Corp, based in Dallas, Texas, operates in the healthcare sector, providing services through general medical and surgical hospitals.
Investors often monitor insider transactions as they can provide insights into the company's performance and insider perspectives on the stock's value. The sale by West represents a notable change in her investment position in Tenet Healthcare.
The details of the transaction have been made public, allowing shareholders and potential investors to stay informed about significant insider activity within the company.
InvestingPro Insights
As Tenet Healthcare Corp (NYSE:THC) makes headlines with insider transactions, it's important to consider the company's financial health and market performance. The latest data from InvestingPro provides a snapshot of Tenet Healthcare's current standing. With a market capitalization of approximately $12.42 billion and a remarkably low P/E ratio of 4.9, the company stands out in the Healthcare Providers & Services industry. Additionally, Tenet Healthcare has shown a solid revenue growth of 7.4% over the last twelve months as of Q1 2024, signaling a positive trajectory in its operations.
InvestingPro Tips suggest that Tenet Healthcare has a perfect Piotroski Score of 9, which indicates a very healthy financial state. Furthermore, the company's management has been actively buying back shares, demonstrating confidence in the company's future performance. This aligns with the impressive price total return over the last year, which stands at 81.36%, reflecting the stock's strong market presence.
For investors looking for more in-depth analysis, InvestingPro offers additional insights, including 14 analysts having revised their earnings upwards for the upcoming period, suggesting potential for continued growth. With a total of 17 InvestingPro Tips available, investors can gain a comprehensive understanding of Tenet Healthcare's prospects. To access the full list of tips and enrich your investment strategy, use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/THC.
It's also noteworthy that the stock is trading near its 52-week high, at 98.79% of this threshold, and the InvestingPro Fair Value estimate stands at $141.29, suggesting room for growth compared to the previous close price of $127.68. These metrics provide a broader context for Nadja West's recent transaction and may influence investor perception of Tenet Healthcare's stock value.
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