Glenview Capital Further Increases Position in Tenet Healthcare Corp (THC)

Larry Robbins’ hedge fund Glenview Capital has increased its position in Tenet Healthcare Corp (NYSE:THC). According to SEC filings, Glenview has purchased in total around 893,500 shares, increasing its stake in the company to a total of 13.8 million.

In the first filing, the fund revealed buying around 644,600 shares of Tenet Healthcare Corp (NYSE:THC). The securities have been bought in two transactions, the average price amounting to $39.95 per share. In the second filing, Glenview acquired some other 248,900 shares, paying $39.79 apiece.

Recently, the nurses Union at Waterbury Hospital, Connecticut, will like its sister union in Massachusetts seek ballot initiatives to change the number of patients a nurse handles and limits CEO/hospital compensations, according to Republican American. Tenet Healthcare Corp (NYSE:THC) currently owns Waterbury Hospital as well as other hospitals it bought along with it- Bristol Hospital, Eastern Connecticut Health Network which consists of Rockville General Hospitals, Manchester Memorial. Tenet Healthcare, when buying Vanguard Health Systems, also continued the acquisition plans the hospital already had for the latter hospitals.

Other Hedge Funds which hold significant positions in Tenet Healthcare Corp (NYSE:THC) are: John Griffin managed Blue Ridge Capital, which holds 3.09 million shares valued at $127.07 million followed by Robert Pohly’s Samlyn Capital which owns 2.34 million shares valued at $96.36 million and in third position is Daniel Gold’s Qvt Financial holding 1.74 million shares, worth $71.66 million.

Meanwhile, Glenview Capital is a multi-sector fund with predominant positions in Healthcare, Services, Technology and several other sectors such as Financial Consumer Goods. Its top holdings in terms of value include companies like Flextronics International Ltd. (NASDAQ:FLEX) with roughly 59.18 million shares, valued at $537.96 million. It also owns nearly 37.76 million shares in another healthcare company Health Management Associates Inc (NYSE:HMA) which is valued at $483.30 million. What is more Interestingly is that it has holding in JC Penny Company, Inc. (NYSE:JCP) worth $108.92 million.

Disclosure: none

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