Billionaire Larry Robbins’ Long-Term Stock Picks

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1. Tenet Healthcare Corporation (NYSE:THC)

Number of Hedge Fund Holders: 66

Glenview Capital’s Stake: $441.9 million

Tenet Healthcare Corporation (NYSE:THC) is a Texas-based diversified healthcare company. The investment potential of this company can be attributed to several factors. The first of these is the exceptional performance of the company in the report for the third quarter of 2024. For instance, net income available to common shareholders was $472 million, or $4.89 per diluted share, including an after-tax gain of $209 million, or $2.16 per diluted share, primarily associated with previously announced hospital divestitures. The divestiture gains can support reinvestment in strategic areas, improve financial flexibility, or fund shareholder returns, indicating effective capital management. Secondly, Novant Health and Tenet Healthcare Corporation have announced a definitive agreement regarding the acquisition by Novant Health of three Tenet hospitals and affiliated operations in South Carolina. This agreement will help the company to ensure seamless continuity of care for patients, improve revenue cycle services, and enhance access to surgical procedures in convenient and safe outpatient settings.

While we acknowledge the potential of Tenet Healthcare Corporation (NYSE:THC) as an investment, our conviction lies in the belief that some stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a stock that is more promising than Tenet Healthcare Corporation (NYSE:THC) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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