Tenet Healthcare Shares Surge Over 8% As Director Buys 15,000 Shares

Shares of Tenet Healtchcare Corp THC were trading at over a 30 percent premium month-over-month in Friday's after-hours session.

Following disappointing earnings and guidance released on October 31 and uncertainty for the hospital industry after a Trump victory, the stock had tumbled, hitting a 52-week low of $14.06 Friday afternoon.

Shortly after the low, Director Ronald Rittenmeyer purchased 15,000 shares at an average price of $14.35, increasing his total stake by around $215,250. Since the director’s purchase, Tenet shares are trading up over 8 percent at $15.65.

Inside transactions can be an indication of what a company's management and major shareholders expect its share price to do.