5 Healthcare Stocks to Buy Now According to Billionaire Larry Robbins

1. Tenet Healthcare Corporation (NYSE:THC)

Glenview Capital’s Stake Value: $548.51 million

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

Number of Hedge Fund Holders: 55

Tenet Healthcare Corporation (NYSE:THC) is a Texas-based health care services company and the top healthcare stock pick of Glenview Capital, covering 11.1% of its portfolio, with shares worth $548.51 million as of Q1 2022. As of the first quarter of 2022, 55 hedge funds were bullish on Tenet Healthcare Corporation (NYSE:THC), compared to 49 hedge funds in Q4 2021.

Tenet Healthcare Corporation (NYSE:THC) exceeded its Q2 earnings estimates by a staggering 88.67%. The company posted an EPS of $1.50 compared to the $0.80 consensus. The company lagged in revenue estimates after generating $4.64 billion, compared to the estimates of $4.78 billion. In addition, the company reported cash and cash equivalents of $1.4 billion, which were 42.9% below the previous year.

On July 7, Deutsche Bank analyst Pito Chickering maintained a Buy rating on Tenet Healthcare Corporation (NYSE:THC)’s shares and lowered the price target to $90 from $110. 

Here is what Oakmark Funds had to say about Tenet Healthcare Corporation in its Q3 2021 investor letter:

“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 healthcare 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  9 Tech Stocks that Cathie Wood is Giving Up On and Top 10 Stock Picks of Teresa Barger’s Cartica Management.

Follow Insider Monkey on Twitter