5 Best High Beta Stocks to Buy Now

2. Tenet Healthcare Corporation (NYSE:THC)

Number of Hedge Fund Holders: 74

Beta Value: 2.2

Dallas, Texas-based, Tenet Healthcare Corporation (NYSE:THC) is a diversified healthcare services company. Its network includes 61 hospitals and 575 other facilities, including surgical hospitals, ambulatory surgery centers and other outpatient facilities.

On October 30, Tenet Healthcare Corporation (NYSE:THC) released its financial results for the third quarter of 2023. Its net operating revenues increased by 5.5% y-o-y to $5.1 billion, while it reported a net income of $101 million. The normalized EPS was recorded at $1.44 for the quarter, which exceeded the consensus by $0.24.

As of Q2 2023, 74 of the 910 hedge funds tracked by Insider Monkey were long Tenet Healthcare Corporation (NYSE:THC), holding shares worth $2.7 billion. Larry Robbins’ Glenview Capital was the largest shareholder with ownership of 6.5 million shares valued at $526 million. It was followed by other prominent hedge fund shareholders such as Millennium Management, Marshall Wace LLP, and Citadel Investment Group, among others.