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Healthcare Providers Push Past Biotech Stocks In Krishen Sud’s Portfolio

The second-largest public equity investment of the fund manager is in Community Health Systems (NYSE:CYH), with an investment of $12.54 million from 199,100 shares. Krished Sud increased his stake in the healthcare company by 32% compared to three months earlier. The acute care service provider has witnessed 9.44% growth in its share price since the Supreme Court ruling, in addition to 12.2% growth year-to-date. Wall Street is estimating earnings per share of $0.88 for the second quarter compared to its first quarter earnings of $0.85. Glenview Capital and Jacob Doft’s Highline Capital Management are among some of the major stockholders of the company. At the end of the first quarter, Glenview Capital held 12.09 million shares of Community Health Systems (NYSE:CYH) with a market value of $632.26 million, whereas Doft held 2.13 million shares valued at $111.46 million in his portfolio.

Tenet Healthcare Corp (NYSE:THC) is another stock position to receive a boost from Sud during the second quarter, as the investment manager increased his stake in the company by 30% to a total of 189,100 shares valued at $10.95 million. Larry Robbins of Glenview Capital was among the top investment managers to increase his stake in Tenet Healthcare after the Supreme Court ruling. He added an additional 979,500 shares of the healthcare company to his portfolio, amassing a total of 14.79 million shares valued at $5.66 billion or 15% of the overall outstanding shares of the company. The Dallas, Texas-based healthcare company has witnessed 17.09% growth in its share price since the ruling and 15.69% growth year-to-date. The majority of analysts have rated the stock of Tenet Healthcare Corp (NYSE:THC) a ‘Buy’, with an average 12-month price target of $64.39, indicating upside potential of 9.71%. Richard Perry of Perry Capital was another major investor of the company, holding 1.58 million shares with a market value of $78.23 million at the end of the first quarter.

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