Insider Selling Alert: Director at Tenet Healthcare Corp (NYSE:THC) Sells $2.93 Million Worth of Stock
Meghan Fitzgerald, a director at Tenet Healthcare Corp (NYSE:THC), recently sold 20,000 shares of the company's common stock, amounting to approximately $2.93 million. The sales occurred on August 6, 2024, with an average price of $146.34 per share.
The transactions were conducted at prices ranging from $146.16 to $146.68, reducing Fitzgerald's remaining holdings in Tenet Healthcare to 15,269 shares of common stock. Insider transactions like these can provide valuable insights into executives' confidence in their company's valuation and future prospects.
Tenet Healthcare Corp, a Dallas-based healthcare services company, operates hospitals and related facilities across the United States. The recent sale by Fitzgerald was disclosed in a Form 4 filing with the Securities and Exchange Commission on August 8, 2024, offering transparency into the company's insider trading activities.
For investors interested in Tenet Healthcare's stock performance and insider transactions, the company trades under the ticker symbol THC on the New York Stock Exchange. In other news, Tenet Healthcare Corporation has agreed to sell its stake in Brookwood Baptist Health to Orlando Health for $910 million, with Mizuho Securities, Deutsche Bank, and Citi upgrading their targets for Tenet's shares.
Following a strong quarterly performance, Tenet reported a 12% increase in net operating revenues and raised its 2024 EBITDA guidance by $300 million, authorizing a $1.5 billion share repurchase program. The company remains focused on strategic capital allocation, investing in AI technologies, and expanding services in high-demand areas. The sale is expected to be finalized in fall 2024, subject to regulatory approvals and closing conditions.
In conclusion, insider transactions like these can provide valuable insights for investors, allowing them to make informed decisions about their investments. It's essential to keep track of such transactions and company developments to stay ahead in the financial markets.