Halvorsen's Investment Makes Broadcom His 5th-Most Valuable Stake

Health care-oriented guru acquires stake in Netflix in 3rd quarter

Dec 05, 2015

Health care stocks have the highest weighting – 30% – in Andreas Halvorsen (Trades, Portfolio)’s portfolio so it shouldn’t be a surprise that many of his largest transactions in the third quarter involved health care-related stocks, but his largest deal of the quarter belongs more properly to the second-highest weighted sector in his portfolio, Technology.

Halvorsen’s most noteworthy third-quarter transaction was the purchase of a 23,568,995-share stake in Broadcom Corp. (BRCM, Financial), an Irvine, California-based semiconductor company, for an average price of $51.45 per share. The acquisition had a 4.65% impact on Halvorsen’s portfolio.

Broadcom has a market cap of $33.27 billion and an enterprise value of $33.16 billion. It has a P/E of 25.1, a forward P/E of 19.5, a P/B of 3.5 and a P/S of 4.2. GuruFocus has given Broadcom a Financial Strength rating of 5/10 and a Profitability and Growth rating of 7/10.

Broadcom sold for $57.52 per share Friday.

Halvorsen acquired a 5,053,349-share stake in Laboratory Corp. of America Hldgs. (LH, Financial), a Burlington, North Carolina-based operator of a clinical laboratory network, for an average price of $120.41 per share. The transaction had a 2.1% impact on Halvorsen’s portfolio.

Laboratory Corporation has a market cap of $12.62 billion and an enterprise value of $18.61 billion. It has a P/E of 27.5, a forward P/E of 14.2, a P/B of 2.6 and a P/S of 1.5. GuruFocus has given Laboratory Corporation a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.

On Friday Laboratory Corporation sold for $124.74 per share.

Halvorsen bought an 8,872,650-share stake in Teva Pharmaceutical Industries Ltd. (TEVA, Financial), an Israeli pharmaceutical company, for an average price of $64.84 per share. The deal had a 1.92% impact on Halvorsen’s portfolio.

Teva has a market cap of $55.99 billion and an enterprise value of $66.89 billion. It has a P/E of 31.7, a forward P/E of 11.4, a P/B of 2.5 and a P/S of 2.8. GuruFocus has given Teva a Financial Strength rating of 7/10 and a Profitability and Growth rating of 6/10.

Teva sold for $65.72 per share Friday.

Halvorsen acquired a 4,517,202-share stake in Netflix Inc. (NFLX, Financial), a Los Gatos, California-based DVD and streaming media subscription service, for an average price of $107.39 per share. The deal had a 1.79% impact on Halvorsen’s portfolio.

Netflix has a market cap of $55.96 billion and an enterprise value of $55.75 billion. It has a P/E of 347.3, a forward P/E of 476.2, a P/B of 25.9 and a P/S of 8.9. GuruFocus has given Netflix a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.

Chase Coleman (Trades, Portfolio), Julian Robertson (Trades, Portfolio), Jim Simons (Trades, Portfolio), George Soros (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Ron Baron (Trades, Portfolio), John Burbank (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) have shares of Netflix in their portfolios.

On Friday Netflix sold for $130.93 per share.

Halvorsen reduced his stake in Illumina Inc. (ILMN, Financial), a San Diego-based biotechnology company, by nearly 64%. Halvorsen sold 3,179,470 shares for an average price of $208.03 per share. The transaction had a -2.62% impact on Halvorsen’s portfolio.

Illumina has a market cap of $26.18 billion and an enterprise value of $25.85 billion. It has a P/E of 52.1, a forward P/E of 45.3, a P/B of 13.6 and a P/S of 12.5. GuruFocus has given Illumina a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.

Illumina sold for $178.83 per share Friday.

Halvorsen sold his 11,780,357-share stake in MetLife Inc. (MET, Financial), a New York-based financial services company, for an average price of $52.42 per share. The transaction had a -2.49% impact on Halvorsen’s portfolio.

MetLife has a market cap of $56.77 billion and an enterprise value of $52.13 billion. It has a P/E of 9.9, a forward P/E of 8.2, a P/B of 0.8 and a P/S of 0.8. GuruFocus has given MetLife a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10.

On Friday MetLife sold for $51.07 per share.

Halvorsen sold his 2,914,815-share stake in Cigna Corp. (CI, Financial), a Bloomfield, Connecticut-based health services organization, for an average price of $145.17 per share. The deal had a -1.78% impact on Halvorsen’s portfolio.

Cigna has a market cap of $36.17 billion and an enterprise value of $38.92 billion. It has a P/E of 23.5, a forward P/E of 14.7, a P/B of 3.0 and a P/S of 1.0. GuruFocus has given Cigna a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.

Cigna sold for $140.43 per share Friday.

Halvorsen raised his stake in Anthem Inc. (ANTM, Financial), an Indianapolis-based health insurance company, by more than 210% with his purchase of 4,006,939 shares for an average price of $150.29 per share. The deal had a 2.15% impact on his portfolio and made Halvorsen’s stake in Anthem the ninth-most valuable in his portfolio.

Anthem has a market cap of $34.66 billion and an enterprise value of $31.45 billion. It has a P/E of 12.7, a forward P/E of 11.8, a P/B of 1.5 and a P/S of 0.5. GuruFocus has given Anthem a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.

On Friday Anthem sold for $132.75 per share.

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