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Tiziano Frateschi
Tiziano Frateschi
Articles (2512)  | Author's Website |

The Vanguard Health Care Fund Exits CVS Health, Teva Pharmaceutical

Fund's largest sales of the 1st quarter

The Vanguard Health Care Fund (Trades, Portfolio) sold shares of the following stocks during the first quarter of 2020.

CVS Health

The fund exited its CVS Health Corp. (NYSE:CVS) stake. The portfolio was impacted by -1.82%.

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The health care services provider has a market cap of $77.59 billion and an enterprise value of $158.84 billion

GuruFocus gives the company a profitability rating of 8 out of 10. The return on equity of 10.85% and return on assets of 3.08% are underperforming 78% of companies in the health care plans industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.09 is below the industry median of 0.62.

The largest guru shareholder of the company is Dodge & Cox with 1.57% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 0.84% and PRIMECAP Management (Trades, Portfolio) with 0.46%.

Teva Pharmaceutical Industries

Vanguard exited its Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) holding. The portfolio was impacted by -1.32%.

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The Israel-based drug manufacturer has a market cap of $11.95 billion and an enterprise value of $38.41 billion.

GuruFocus gives the company a profitability rating of 6 out of 10. The return on equity of -7% and return on assets of -1.7% are underperforming 62% of companies in the drug manufacturers industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.07 is below the industry median of 0.94.

The largest guru shareholder of the company is Warren Buffett (Trades, Portfolio) with 3.96% of outstanding shares, followed by David Abrams (Trades, Portfolio) with 2.20% and Jim Simons (Trades, Portfolio)’ Renaissance Technologies with 0.20%.

Eli Lilly

The fund reduced is position in Eli Lilly and Co. (NYSE:LLY) by 19.11%, impacting the portfolio -0.90%.

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The pharmaceutical company has a market cap of $151 billion and an enterprise value of $162.17 billion.

GuruFocus gives the company a profitability rating of 8 out of 10. The return on equity of 193.08% and return on assets of 14.19% are outperforming 91% of companies in the drug manufacturers industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.1 is below the industry median of 0.94.

The largest guru shareholder of the company is PRIMECAP Management with 4.51% of outstanding shares, followed by Vanguard with 1.41% and Dodge & Cox with 0.85%.

AstraZeneca

Vanguard cut its position in drugmaker AstraZeneca PLC (LSE:AZN) by 10.89%. The trade had an impact of -0.64% on the portfolio.

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Bristol-Myers

The Health Care Fund curbed its Bristol-Myers Squibb Co. (NYSE:BMY) stake by 8.19%. The portfolio was impacted by -0.46%.

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The company, which develops treatments form cardiovascular, oncology and immune disorders, has a market cap of $136.34 billion and an enterprise value of $168.58 billion.

GuruFocus gives the company a profitability rating of 9 out of 10. The return on equity of 15.01% and return on assets of 5.5% are outperforming 69% of companies in the drug manufacturers industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.32 is below the industry median of 0.94.

The largest guru shareholder of the company is Simons’ firm with 2.66% of outstanding shares, followed by Dodge & Cox with 2.22%.

McKesson

The fund curbed its McKesson Corp. (NYSE:MCK) holding by 44.92%. The trade had an impact of -0.40% on the portfolio.

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The company, which distributes wholesale pharmaceutical and medical products, has a market cap of $21.64 billion and an enterprise value of $31.78 billion.

GuruFocus gives the company profitability rating of 7 out of 10. The return on equity of -12.13% and return on assets of -1.52% are underperforming 88% of companies in the medical distribution industry. Its financial strength is rated 5 out of 10. The equity-asset ratio of 0.17 is underperforms 76% of competitors.

Larry Robbins (Trades, Portfolio)’ Glenview Capital Management is the largest guru shareholder of the company with 2.30% of outstanding shares. Other notable shareholders are Richard Pzena (Trades, Portfolio) with 2.13% and Seth Klarman (Trades, Portfolio) with 0.93%.

Merck

Vanguard reduced its holding of Merck & Co. Inc. (NYSE:MRK) by 17.21%. The trade had an impact of -0.35% on the portfolio.

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The company, which manufactures pharmaceutical products to treat cardiovascular diseases, cancer and infections, has a market cap of $194.84 billion and an enterprise value of $210.83 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 37.68% and return on assets of 12.17% are outperforming 88% of other companies in the drug manufacturers industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.4 is below the industry median of 0.95.

The largest guru shareholder of the company is Ken Fisher (Trades, Portfolio) with 0.35% of outstanding shares, followed by Pioneer Investments (Trades, Portfolio) with 0.33%, Simons’ firm with 0.22% and Jeremy Grantham (Trades, Portfolio) with 0.15%.

Disclosure: I do not own any stocks mentioned.

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About the author:

Tiziano Frateschi
You can read about me on www.theextraincome.info, which gives suggestions on position trading.

Visit Tiziano Frateschi's Website


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