5 Most Undervalued Healthcare Stocks To Buy According To Hedge Funds

4. Tenet Healthcare Corporation (NYSE:THC)

TTM PE Ratio as of October 26: 11.67

Number of Hedge Fund Holders: 74

Tenet Healthcare Corporation (NYSE:THC) is an American healthcare services company with 648 facilities across the US. 

In the second quarter, 74 hedge funds went long on Tenet Healthcare Corporation (NYSE:THC), up from 66 in the previous quarter. Along with the hedge funds, Wall Street analysts also seem to be looking at the company quite favorably. According to Tipranks, in the last three months, 12 out of 13 analysts maintain a Buy rating on the company stock with an average price target of $94.92.

In 2022, Tenet Healthcare Corporation (NYSE:THC) generated a revenue of $19.17 billion and a net profit of $411 million. For 2023, the company expects revenue to be between $20.10 billion and $20.50 billion and net profit to be between $447 million and $582 million.

Greenlight Capital made the following comment about Tenet Healthcare Corporation (NYSE:THC) in its second quarter 2023 investor letter:

“Tenet Healthcare Corporation (NYSE:THC), which returned 37% on the back of first quarter results that exceeded expectations and the company upgraded its annual outlook. After a rough patch last year due to COVID-related volume disruptions and elevated labor. costs, THC now appears back on track and executing well on its ambulatory surgery center growth strategy.”