Edward Owens has managed the Vanguard Health Care Fund (Trades, Portfolio) since its inception in May 1984. It invests primarily in health care companies.
Owens' strategy is characterized by a long-term focus and careful attention to valuations. During the first quarter the guru traded shares in the following stocks:
The fund closed its position in St. Jude Medical Inc. (STJ) with an impact of -1.18% on the portfolio.
The company develops, manufactures and distributes cardiovascular medical devices for global cardiac rhythm management, cardiovascular, atrial fibrillation therapy areas and neurostimulation medical devices for the management of chronic pain.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10. The return on equity (ROE) of 15.74% and return on assets (ROA) of 5.33% are outperforming 70% of the companies in the Global Medical Devices industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.07 is below the industry median of 2.55.
The guru raised its shares in Abbott Laboratories (ABT) by 63.66% impacting the portfolio by 0.68%.
The company discovers, develops, manufactures and sells health care products. Its products include branded generic pharmaceuticals manufactured internationally, marketed and sold outside the U.S.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10. The ROE of 6.59% and ROA of 3.10% are outperforming 61% of the companies in the Global Medical Devices industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.37 is below the industry median of 2.55.
Vanguard Health Care Fund is the largest shareholder among the gurus with 1.02% of outstanding shares followed by PRIMECAP Management (Trades, Portfolio) with 0.85%, Diamond Hill Capital (Trades, Portfolio) with 0.71%, Jeremy Grantham (Trades, Portfolio) with 0.29%, Mairs and Power (Trades, Portfolio) with 0.25% and Jim Simons (Trades, Portfolio) with 0.18%.
The investor reduced his shares in Incyte Corp. (INCY) by 20.45%. The trade had an impact of -0.57% on the portfolio.
It is a biopharmaceutical company that discovers, develops and commercializes proprietary small molecule drugs to treat serious unmet medical needs, mainly in oncology.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10. The ROE of -23.44% and ROA of -7.31% are outperforming 89% of the companies in the Global Biotechnology industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 12.31 is below the industry median of 54.02.
Frank Sands (Trades, Portfolio) is another notable shareholder among the gurus with 4.52% of outstanding shares followed by Pioneer Investments (Trades, Portfolio) with 0.27%, Andreas Halvorsen (Trades, Portfolio) with 0.21%, Eaton Vance Worldwide Health Sciences Fund (Trades, Portfolio) with 0.1%, Manning & Napier Advisors Inc. with 0.03%, Joel Greenblatt (Trades, Portfolio) with 0.03%, John Burbank (Trades, Portfolio) with 0.01% and Ken Fisher (Trades, Portfolio) with 0.01%.
The guru reduced his position in Allergan PLCĂ‚ (AGN) by 22.55%. The transaction had an impact of -0.45% on the portfolio.
It is a specialty pharmaceutical company that is engaged in developing, manufacturing and distributing generic, brand and biosimilar products.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10. The ROE of 15.02% and ROA of 9.09% are outperforming 81% of the companies in the Global Drug Manufacturers - Specialty and Generic industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.28 is below the industry median of 3.09.
The largest shareholder among the gurus Is John Paulson (Trades, Portfolio) with 3.48% of outstanding shares followed by David Tepper (Trades, Portfolio) with 0.87%, Seth Klarman (Trades, Portfolio) with 0.72%, John Griffin (Trades, Portfolio) with 0.57%, Spiros Segalas (Trades, Portfolio) with 0.45% and Pioneer Investments with 0.37%.
The guru reduced his position in Amgen Inc. (AMGN) by 71.47%. The trade had an impact of -0.46% on the portfolio.
It is a biotechnology company that discovers, develops, manufactures and delivers human therapeutics. The company's business segment is human therapeutics.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10. The ROE of 26.29% and ROA of 10.27% are outperforming 91% of the companies in the Global Biotechnology industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 1.13 is below the industry median of 54.02.
PRIMECAP Management is the largest shareholder among the gurus with 3.28% of outstanding shares followed by Simons with 0.33%, David Carlson (Trades, Portfolio) with 0.06%, Greenblatt with 0.05%, Third Avenue Management (Trades, Portfolio) with 0.03% and Steven Cohen (Trades, Portfolio) with 0.02%.
The firm reduced its shares in Aetna Inc. (AET) by 22.55% with an impact of -0.45% on the portfolio.
It is a health care benefit company. It offers traditional and consumer-directed health insurance products and related services including medical, pharmacy, dental, behavioral health, group life and disability plans.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10. While the ROE of 6.79% is outperforming the sector, ROA of 1.78% is underperforming 61% of the companies in the Global Health Care Plans industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.74 is below the industry median of 1.12.
Another notable shareholder among the gurus is Larry Robbins (Trades, Portfolio) with 1.52% of outstanding shares followed by Chris Davis (Trades, Portfolio) with 1.26%, Simons with 0.94%, Diamond Hill Capital with 0.5%, Jana Partners (Trades, Portfolio) with 0.44%, Lee Ainslie (Trades, Portfolio) with 0.3% and Cohen with 0.07%.
The guru reduced his holding in Merck & Co. Inc. (MRK) by 8.27% impacting the portfolio by -0.41%.
It is a health care company that delivers health solutions through its prescription medicines, vaccines, biologic therapies and animal health.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10. The ROE of 10.30% and ROA of 4.47% are outperforming 53% of the companies in the Global Drug Manufacturers - Major industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.54 is below the industry median of 3.09.
Barrow, Hanley, Mewhinney & Strauss is another notable shareholder among the gurus with 0.58% of outstanding shares followed by Dodge & Cox with 0.5%, Simons with 0.27%, Fisher with 0.25%, PRIMECAP Management with 0.18%, T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.12% and Charles Brandes (Trades, Portfolio) with 0.1%.
The investor reduced his position in UnitedHealth Group Inc. (UNH) by 4.20% with an impact of -0.25% on the portfolio.
The company designs products, provides services and applies technologies that improve access to health and well-being services, simplify the health care experience and make health care more affordable.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 20.01% and ROA of 6.10% are outperforming 74% of the companies in the Global Health Care Plans industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.57 is below the industry median of 1.12.
The largest shareholder among the gurus is Dodge & Cox with 1.55% of outstanding shares followed by Halvorsen with 0.37%, Grantham with 0.37%, Davis with 0.3% and Bill Nygren (Trades, Portfolio) with 0.23%.
The firm purchased a 642,725-share position in Tesaro Inc. (TSRO) with an impact of 0.22% on the portfolio.
It is an oncology-focused biopharmaceutical company engaged in improving the lives of cancer patients. It develops oncology-related product candidates including rolapitant, niraparib and the product candidates under the immuno-oncology platform.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10. The ROE of -110.69% and ROA of -72.44% are underperforming 85% of the companies in the Global Biotechnology industry. Financial strength has a rating of 3 out of 10. The cash-debt ratio of 5.00 is below the industry median of 54.02.
The largest shareholder among the gurus is Cohen with 0.93% of outstanding shares followed by Pioneer Investments with 0.2%, Leon Cooperman (Trades, Portfolio) with 0.05% and Paul Tudor Jones (Trades, Portfolio) with 0.01%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
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