Tenet Healthcare Co. (NYSE:THC) Shares Sold by Violich Capital Management Inc.

Violich Capital Management Inc. cut its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 43.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,905 shares of the company’s stock after selling 1,475 shares during the quarter. Violich Capital Management Inc.’s holdings in Tenet Healthcare were worth $240,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new stake in Tenet Healthcare during the 4th quarter worth approximately $343,000. Swedbank AB increased its position in shares of Tenet Healthcare by 100.0% in the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after purchasing an additional 20,000 shares during the last quarter. Legacy Capital Group California Inc. purchased a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $1,055,000. Signet Financial Management LLC purchased a new stake in shares of Tenet Healthcare in the 4th quarter valued at approximately $1,526,000. Finally, Intech Investment Management LLC increased its position in shares of Tenet Healthcare by 44.4% in the 3rd quarter. Intech Investment Management LLC now owns 79,266 shares of the company’s stock valued at $13,174,000 after purchasing an additional 24,385 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Stock Down 0.6 %

Shares of NYSE THC opened at $139.61 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a 52 week low of $86.90 and a 52 week high of $171.20. The firm has a 50-day moving average price of $133.91 and a 200 day moving average price of $148.62. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 4.47, a price-to-earnings-growth ratio of 0.63 and a beta of 2.05.

Analyst Ratings Changes

A number of research firms recently commented on THC. Truist Financial dropped their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada increased their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays increased their target price on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. KeyCorp dropped their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $165.00.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.