Tenet Healthcare Corporation (THC) : Traders are bullish on Tenet Healthcare Corporation (THC) as it has outperformed the S&P 500 by a margin of 5.25% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.78%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.43% in the last 1 week, and is up 12.36% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Tenet Healthcare Corporation (NYSE:THC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $31.25 and $30.61 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $31.67. The buying momentum continued till the end and the stock did not give up its gains. It closed at $31.46, notching a gain of 0.87% for the day. The total traded volume was 851,620 . The stock had closed at $31.19 on the previous day.
The stock has recorded a 20-day Moving Average of 8.99% and the 50-Day Moving Average is 9.49%. Tenet Healthcare Corp. has dropped 3.38% during the last 3-month period . Year-to-Date the stock performance stands at 3.83%.
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.