5 Best Healthcare Stocks to Buy According to Billionaire Larry Robbins

1. Tenet Healthcare Corporation (NYSE:THC)

Glenview Capital’s Stake Value: $548,514,000

Percentage of Glenview Capital’s 13F Portfolio: 11.1%

Number of Hedge Fund Holders: 55

Tenet Healthcare Corporation (NYSE:THC) operates as a diversified healthcare services company. The company has three business segments: Hospital Operations, Ambulatory Care, and Conifer. As of June 27, Tenet Healthcare Corporation (NYSE:THC) has a trailing twelve-month PE ratio of 6.33, which makes it one of the best undervalued healthcare stocks to buy now according to billionaire Larry Robbins.

Analysts are bullish on Tenet Healthcare Corporation (NYSE:THC). On June 3, Raymond James added the company to its “Analyst Current Favorites” list, which includes stocks that are Buy rated. On June 16, Loop Capital analyst Joseph France initiated coverage of Tenet Healthcare Corporation (NYSE:THC) with a Buy rating and an $80 price target.

As of March 31, Glenview Capital owns 6.3 million shares of Tenet Healthcare Corporation (NYSE:THC) which brings the fund’s stakes to $548.51 million. The investment covers 11.1% of Larry Robbins’ 13F portfolio. Glenview Capital is the largest shareholder in Tenet Healthcare Corporation (NYSE:THC) as of Q1 2022.

Tenet Healthcare Corporation (NYSE:THC) was spotted on 55 investment portfolios at the end of Q1 2022. The total stakes of these funds in the company were valued at $2.0 billion, down from $2.15 billion a quarter ago with 49 positions.

Oakmark Funds mentioned Tenet Healthcare Corporation (NYSE:THC) in its third-quarter 2021 investor letter, here is what the firm had to say:

“Tenet may be best known as the second-largest public hospital chain in the U.S., but its largest business is outpatient acute care centers. In early 2020, investors fled the health care industry because of the great uncertainty that the pandemic presented. The early days of the pandemic were very hard on the hospital industry especially, but as the Covid-19 surge peaked and diminished, hospitals were able to schedule elective procedures and engage in profitable activities.”

You can also take a look at 10 Healthcare Dividend Stocks that Hedge Funds are Buying and 10 Healthcare Stocks to Buy According to Mario Gabelli.

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