Beyond the Tech Giants: 35 Non-Tech AI Opportunities

4. Tenet Healthcare Corporation (NYSE:THC)

Number of Hedge Fund Holders: 64      

Tenet Healthcare Corporation (NYSE:THC) operates as a diversified healthcare services company in the United States. Latest reports indicate that the company has agreed to sell 70% of a majority ownership stake in Brookwood Baptist Health in Birmingham to Orlando Health in a deal worth about $910 million. The transaction will include five hospitals – Brookwood Baptist Medical Center, Princeton Baptist Medical Center, Walker Baptist Medical Center, Shelby Baptist Medical Center, Citizens Baptist Medical Center – as well as affiliated physician practices and other related operations. The deal is expected to be completed by the end of this year, subject to regulatory approvals.

Tenet Healthcare Corporation (NYSE:THC) is one of the most followed health stocks in the finance world. Wells Fargo recently raised the price target on the stock to $175 from $145 and kept an Overweight rating, highlighting that hospital results and guides in Q2 generally exceeded expectations. In an investor note, the advisory cited higher estimates and rolling forward for the price target raise, and noted that it expects the second half of 2024 fundamentals to remain fairly strong but 2025/2026 seemed likely to be more normalized.