Billionaire Larry Robbins Has Healthy Stakes In Health Stocks

Glenview Capital also held around 17.86 million shares of AbbVie Inc (NYSE:ABBV) valued at $1.20 billion at the end of June. AbbVie Inc (NYSE:ABBV) is a global, research-based biopharmaceutical company. The company has been successfully increasing the dividends over the past 25 years and currently has a dividend yield of 2.96% dividend yield and a forward P/E ratio of 13.6. Furthermore, the mean estimations of analysts suggest around 12% of potential upside from the current price. Julian Baker and Felix Baker’s Baker Bros. Advisors is among the largest shareholders of AbbVie Inc (NYSE:ABBV) owning some 14.37 million shares valued at $965.76 million.

In Tenet Healthcare Corp (NYSE:THC), Glenview disclosed a $856.18 million stake, which contained 14.79 million shares, up by 7% on the quarter. However, last week, the investor reported the acquisition of 697,900 shares, which raised its holding to 15.49 million shares. Tenet is a multinational investor-owned healthcare services company based in Dallas, Texas. Its stock has inched up by 1% year-to-date, fueled by the recent Supreme Court decision in favor of the Affordable Care Act, which would keep subsidies intact and limit the risk of a spike of bad debt expenses of Tenet Healthcare. During the day of the ruling, the stock surged by 10%, but since then they have retreated to almost the same levels, offering investors a good buying opportunity. Among the other funds that we track, another shareholder of Tenet Healthcare Corp (NYSE:THC) is  Israel Englander’s Millennium Management holding around 1.69 million shares worth $98.30 million.

Disclosure: None.