Tenet Healthcare Corporation THC has been in investors’ good books for a while now on the back of its strategic initiatives, divestitures and cost-reduction efforts.Over the past 30 days, the company has witnessed its 2021 and 2022 earnings estimates move 0.2% and 0.5% north, respectively.Shares of this currently Zacks Rank #2 (Buy) company have skyrocketed 69% year to date compared with its industry’s growth of 25.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Image Source: Zacks Investment ResearchThe price performance looks stellar when compared to other stocks in the same space like HCA Healthcare, Inc. HCA, Universal Health Services, Inc. UHS and MEDNAX, Inc. MD, which too have rallied 26.4%, 13.7% and 13.7%, respectively, in the same time frame.Tenet Healthcare is steadily undertaking strategic divestitures to shed its non-core and unprofitable business units to streamline operations and repay debt. The company’s spin-off of its Conifer business into an independent publicly-traded company is expected to close by the end of 2021. It is likely to reduce its debt burden by using the proceeds generated from this transaction.This hospital company’s restructuring initiatives lowered its costs to a great extent. The cost-management program comprised primarily of headcount reductions and the renegotiation of contracts with suppliers and vendors.Its United Surgical Partners International (USPI) business line performed well in the first quarter of 2021 on the back of operational excellence and a strong pipeline.Its robust guidance also impresses. After the March-quarter results, it expects net income in the band of $2.98-$4.69 per share, up from the previous guidance of $2.09-$3.81. Net operating revenues are expected in the range of $19.4-$19.8 billion, up from the past guidance of $19.2-$19.6 billion. The midpoint is higher than 2020’s reported revenues by 32.4%. Adjusted EBITDA is expected from $3 billion to $3.2 billion, up from the previous expected range of $2.9-$3.1 billion.Management expects its EPS within $4.12-$5.46, up from the earlier projection of $3.52-$4.81. This should instill investors’ confidence in the stock.Although volumes are yet to return to the pre-pandemic levels, the same is slowly recovering. In the first quarter of 2021, net operating revenues of $4.8 billion increased 5.8% year over year on the back of solid contributions from Hospital operations and Ambulatory segments.Further Upside Left?We believe that the company is well-poised for growth on the back of various strategic actions.The stock carries an impressive VGM Score of B. Here V stands for Value, G for Growth and M for Momentum with the score being a weighted combination of all three factors. The Zacks Consensus Estimate for the company’s 2021 earnings indicates an improvement of 11.2% from the year-ago reported figure.Zacks Names “Single Best Pick to Double”From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Universal Health Services, Inc. (UHS): Free Stock Analysis Report Tenet Healthcare Corporation (THC): Free Stock Analysis Report MEDNAX, Inc. (MD): Free Stock Analysis Report HCA Healthcare, Inc. (HCA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research