Larry Robbins' Largest 1st-Quarter Sales

Guru trims stakes in Humana and Monsanto, exits Priceline Group

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Jun 08, 2016
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Larry Robbins (Trades, Portfolio) founded Glenview Capital Management in 2000, a privately held investment management firm. During the first quarter he sold shares in the following stocks:

The guru reduced his shares in Thermo Fisher Scientific Inc. (TMO) by 39.15% with an impact of -1.86% on the portfolio.

The company offers analytical instruments, laboratory equipment, software, services, consumables, reagents, chemicals and supplies to pharmaceutical and biotech companies, hospitals and clinical diagnostic labs.

During the first quarter it completed a $1.3 billion acquisition of Affymetrix Inc. (AFFX), enhancing its customer value proposition by strengthening its leadership in biosciences and expanding its opportunities in genetic analysis. Its adjusted EPS grew 10% and revenue also grew 10%.

GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 9.61% and ROA of 4.78% that are outperforming 70% of the companies in the Global Diagnostics & Research industry. Financial strength has a rating of 7 out of 10 with cash to debt of 0.06 that is below the industry median of 2.67.

PRIMECAP Management (Trades, Portfolio) is the company's largest shareholder among the gurus with 1.38% of outstanding shares followed by Vanguard Health Care Fund (Trades, Portfolio) with 1.1%, Pioneer Investments (Trades, Portfolio) with 0.6%, First Pacific Advisors (Trades, Portfolio) with 0.43%, Steven Romick (Trades, Portfolio) with 0.38% and Manning & Napier Advisors Inc. with 0.17%.

The guru reduced his shares in Humana Inc. (HUM) by 22.13% with an impact of -1.83% on the portfolio.

The company is a health care company that offers insurance products and health and wellness services. Its segments include Retail, Employer Group and Healthcare Services.

First quarter consolidated revenues had a decrease of less than 1% and consolidated benefit ratio of 84.8% increased by 170 basis points from 83.1% for the prior year’s quarter.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 10.52% and ROA of 4.25% that are outperforming 58% of the companies in the Global Health Care Plans industry. Financial strength has a rating of 6 out of 10 with cash to debt of 0.64 that is below the industry median of 1.63.

Other notable shareholders among the gurus are Andreas Halvorsen (Trades, Portfolio) with 0.82% of outstanding shares followed by HOTCHKIS & WILEY with 0.65%, Jeremy Grantham (Trades, Portfolio) with 0.5%, Pioneer Investments (Trades, Portfolio) with 0.37%, Jim Simons (Trades, Portfolio) with 0.3%, David Einhorn (Trades, Portfolio) with 0.26%, Meridian Funds (Trades, Portfolio) with 0.08% and George Soros (Trades, Portfolio) with 0.05%.

The guru closed his stake in The Priceline Group Inc. (PCLN) with an impact of -1.81% on the portfolio.

The company offers consumers accommodation reservations through its Booking.com, priceline.com and agoda.com brands.

The group's gross profit increased 21% from the prior year and international operations contributed gross profit had a 23% increase versus a year ago.

GuruFocus gives the stock a profitability and growth rating of 9 out of 10 with ROE of 29.76% and ROA of 15.03% that are outperforming 94% of the companies in the Global Leisure industry. Financial strength has a rating of 8 out of 10 with cash to debt of 0.54 that is below the industry median of 0.71.

Frank Sands (Trades, Portfolio) is the company's largest shareholder among the gurus with 1.98% of outstanding shares followed by Steve Mandel (Trades, Portfolio) with 1.59%, Dodge & Cox with 1.37%, Chase Coleman (Trades, Portfolio) with 1.11%, Manning & Napier Advisors with 0.65%, Spiros Segalas (Trades, Portfolio) with 0.59% and David Rolfe (Trades, Portfolio) with 0.57%.

The guru exited his stake in Community Health Systems Inc. (CYH) with an impact of -1.73% on the portfolio.

The company provides health care services through the hospitals that it owns and operates in non-urban and selected urban markets throughout the U.S.

Net operating revenues for the first quarter increased 1.8%; adjusted EBITDA had a decrease of 11.5%.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 2.21% that is outperforming and ROA of 0.34% that is underperforming 77% of the companies in the Global Medical Care industry. Financial strength has a rating of 4 out of 10 with cash to debt of 0.01 that is far below the industry median of 0.37.

The largest shareholder among the gurus is David Tepper (Trades, Portfolio) with 6.29% of outstanding shares followed by Richard Snow (Trades, Portfolio) with 3.09%, Einhorn with 0.99%, Simons with 0.9%, Samuel Isaly (Trades, Portfolio) with 0.3%, Jeff Auxier (Trades, Portfolio) with 0.03% and David Dreman (Trades, Portfolio) with 0.01%.

The guru reduced his shares in Monsanto Co. (MON) by 21.22% with an impact of -1.66% on the portfolio.

The company along with its subsidiaries provides agricultural products for farmers. Its seeds, biotechnology traits, herbicides and precision agriculture products provide farmers with solutions that improve productivity.

GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 23.71% and ROA of 6.78% that are outperforming 72% of the companies in the Global Agricultural Inputs industry. Financial strength has a rating of 8 out of 10 with cash to debt of 0.12 that is below the industry median of 0.54.

PRIMECAP Management (Trades, Portfolio) is the company's largest shareholder among the gurus with 2.63% of outstanding shares followed by Sands with 2.54%, Chris Davis (Trades, Portfolio) with 1.84%, Manning & Napier Advisors with 1.03%, Bill Nygren (Trades, Portfolio) with 0.66%, Segalas with 0.52%, Grantham with 0.23% and Alan Fournier (Trades, Portfolio) with 0.16%.

The guru reduced his shares in McKesson Corp. (MCK) by 57.71% with an impact of -1.41% on the portfolio.

The company distributes pharmaceuticals, medical supplies and health care information technology that make health care safer while reducing costs.

Fourth-quarter revenues grew 7% year over year and GAAP earnings per diluted share from continuing operations increased 31% from the same quarter of a year before.

GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 25.99% and ROA of 4.07% that are outperforming 52% of the companies in the Global Medical Distribution industry. Financial strength has a rating of 8 out of 10 with cash to debt of 0.50 that is below the industry median of 0.69.

The largest shareholder among the gurus is Vanguard Health Care Fund (Trades, Portfolio) with 3.18% of outstanding shares followed by Joel Greenblatt (Trades, Portfolio) with 0.16%, First Pacific Advisors (Trades, Portfolio) with 0.04%, Jerome Dodson (Trades, Portfolio) with 0.04%, Arnold Van Den Berg (Trades, Portfolio) with 0.03%, Wallace Weitz (Trades, Portfolio) with 0.03%, John Paulson (Trades, Portfolio) with 0.03% and Charles Brandes (Trades, Portfolio) with 0.02%.

The guru closed his stake in PVH Corp. (PVH) with an impact of -1.01% on the portfolio.

The company is an apparel company that designs and markets branded dress shirts, neckwear, sportswear, jeans wear, intimate apparel, swim products and, to a lesser extent, footwear and other related products.

First-quarter revenue increased 3% on a constant currency basis and EPS was $1.50 on a non-GAAP basis, inclusive of a 50 cents per share negative impact compared to the prior year related to foreign currency exchange rates, exceeding previous guidance of $1.40 to $1.45.

GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 15.12% and ROA of 6.40% that are outperforming 64% of the companies in the Global Apparel Manufacturing industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.12 that is below the industry median of 1.47.

Sarah Ketterer (Trades, Portfolio) is the company's largest shareholder among the gurus with 2.04% of outstanding shares followed by Michael Dell (Trades, Portfolio) with 1.18%, Einhorn with 0.76%, Ken Heebner (Trades, Portfolio) with 0.34%, Greenblatt with 0.2%, John Keeley (Trades, Portfolio) with 0.1% and Leon Cooperman (Trades, Portfolio) with 0.08%.

The guru exited his stake in Applied Materials Inc. (AMAT) with an impact of -0.87% on the portfolio.

The company provides manufacturing equipment, services and software to the semiconductor, flat panel display, solar photovoltaic and related industries.

GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 16.87% and ROA of 9.28% that are outperforming 83% of the companies in the Global Semiconductor Equipment & Materials industry. Financial strength has a rating of 8 out of 10 with cash to debt of 0.79 that is below the industry median of 1.73.

The largest shareholder among the gurus is T Rowe Price Equity Income Fund (Trades, Portfolio) with 1.23% of outstanding shares followed by Nygren with 0.83%, PRIMECAP Management (Trades, Portfolio) with 0.56%, Dodson with 0.17%, Simons with 0.06%, Greenblatt with 0.06%, Ray Dalio (Trades, Portfolio) with 0.03% and Davis with 0.03%.

The guru closed his stake in Manitowoc Co. Inc. (MTW) with an impact of -0.83% on the portfolio.

The company is a multi-industry, capital goods manufacturer. It operates in two business markets namely, Cranes and Related Products and Foodservice Equipment.

GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with ROE of -16.78% and ROA of -3.95% that are underperforming 86% of the companies in the Global Farm & Construction Equipment industry. Financial strength has a rating of 7 out of 10 with cash to debt of 0.29 that is below the industry median of 0.49.

Carl Icahn (Trades, Portfolio) is the company's largest shareholder of the company among the gurus with 7.72% of outstanding shares followed by Fournier with 0.52%, Greenblatt with 0.48%, Simons with 0.17%, Murray Stahl (Trades, Portfolio) with 0.12%, Pioneer Investments (Trades, Portfolio) with 0.12% and Paul Tudor Jones (Trades, Portfolio) with 0.11%.

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