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Top 5 1st Quarter Trades of Tekla Capital Management LLC

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May 13, 2022
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Tekla Capital Management LLC recently filed their 13F report for the first quarter of 2022, which ended on 2022-03-31.

The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.

Tekla Capital Management LLC is an investment management firm based out of Boston, Massachusetts. The company was originally established in 1986 and is currently headed by Dr. Daniel R. Omstead who acts as the CEO, CFO, and president of the company. Tekla Capital Management conducts its research internally and invests in the public equity market on a global scale, allocating its assets in the “growth equities, both public and private, debt and pooled investment vehicles, in the healthcare and life sciences industries.” The company, which was previously known as Hambrecht & Quist Capital Management, LLC, now operates with 13 employees of which 9 are investment professionals. Tekla Capital Management invests almost exclusively in the health care sector, which alone makes up well over three quarters of its total asset allocations, and also invests in the materials, information technology, and other sectors, in order of decreasing allocation. The company holds its allocations an average of 6.12 quarters and keeps its top 10 holdings an average of 11 quarters. In the most recent quarter, Tekla Capital Management had a turnover rate of approximately 43.3%. The company currently oversees over $3.3 billion in total assets under management spread across 4 total accounts, all of which are discretionary. Both of Tekla Capital Management’s total number of accounts and total assets under management have increased in recent years, with its total number of accounts doubling since just two years ago and its total managed assets experiencing significantly growth, increasing from just over $500 million back in 2010 to well over six times that amount today. Tekla Capital Management currently caters exclusively to investment companies and takes advisory fees in the form of a percentage of assets. The company is currently the investment advisory for four equity funds, all of which are closed ended funds: Tekla Helathcare Investors, Tekla Life Science Investors, Tekla Healthcare Opportunities Fund and Tekla World Healthcare Fund.

As of the latest 13F report, the guru’s equity portfolio contained 176 stocks valued at a total of $2,847,000,000. The top holdings were UNH(5.91%), AMGN(4.88%), and REGN(3.59%).

According to GuruFocus data, these were Tekla Capital Management LLC’s top five trades of the quarter.

Moderna Inc


Tekla Capital Management LLC reduced their investment in NAS:MRNA by 218,100 shares. The trade had a 1.78% impact on the equity portfolio. During the quarter, the stock traded for an average price of $168.57.

On 05/13/2022, Moderna Inc traded for a price of $137.91 per share and a market cap of $54,855,016,000. The stock has returned -14.74% over the past year.

GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 4 out of 10.

In terms of valuation, Moderna Inc has a price-earnings ratio of 3.80, a price-book ratio of 3.04, a EV-to-Ebitda ratio of 2.54 and a price-sales ratio of 2.47.

The price-to-GF Value ratio is 0.04, earning the stock a GF Value rank of 2.

Thermo Fisher Scientific Inc


Tekla Capital Management LLC reduced their investment in NYSE:TMO by 54,721 shares. The trade had a 1.17% impact on the equity portfolio. During the quarter, the stock traded for an average price of $574.18.

On 05/13/2022, Thermo Fisher Scientific Inc traded for a price of $541.42 per share and a market cap of $211,945,356,000. The stock has returned 15.85% over the past year.

GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 9 out of 10.

In terms of valuation, Thermo Fisher Scientific Inc has a price-earnings ratio of 28.21, a price-book ratio of 5.18, a price-earnings-to-growth (PEG) ratio of 1.20, a EV-to-Ebitda ratio of 20.18 and a price-sales ratio of 5.22.

The price-to-GF Value ratio is 0.92, earning the stock a GF Value rank of 7.

Danaher Corp


Tekla Capital Management LLC reduced their investment in NYSE:DHR by 52,215 shares. The trade had a 0.55% impact on the equity portfolio. During the quarter, the stock traded for an average price of $282.37.

On 05/13/2022, Danaher Corp traded for a price of $249.19 per share and a market cap of $181,180,259,000. The stock has returned -3.94% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10.

In terms of valuation, Danaher Corp has a price-earnings ratio of 28.83, a price-book ratio of 4.16, a price-earnings-to-growth (PEG) ratio of 1.55, a EV-to-Ebitda ratio of 20.08 and a price-sales ratio of 6.03.

The price-to-GF Value ratio is 0.85, earning the stock a GF Value rank of 9.

Arena Pharmaceuticals Inc


The guru sold out of their 175,976-share investment in NAS:ARNA. Previously, the stock had a 0.53% weight in the equity portfolio. Shares traded for an average price of $93.48 during the quarter.

On 05/13/2022, Arena Pharmaceuticals Inc traded for a price of $99.99 per share and a market cap of $6,165,322,000. The stock has returned 29.74% over the past year.

There is insufficient data to calculate the stock’s financial strength and profitability ratings.

In terms of valuation, Arena Pharmaceuticals Inc has a price-book ratio of 9.14, a EV-to-Ebitda ratio of -9.08 and a price-sales ratio of 99990.00.

Merck & Co Inc


Tekla Capital Management LLC reduced their investment in NYSE:MRK by 212,500 shares. The trade had a 0.52% impact on the equity portfolio. During the quarter, the stock traded for an average price of $78.84.

On 05/13/2022, Merck & Co Inc traded for a price of $90.41 per share and a market cap of $228,629,260,000. The stock has returned 25.73% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 9 out of 10.

In terms of valuation, Merck & Co Inc has a price-earnings ratio of 16.16, a price-book ratio of 5.58, a price-earnings-to-growth (PEG) ratio of 2.16, a EV-to-Ebitda ratio of 12.54 and a price-sales ratio of 4.23.

The price-to-GF Value ratio is 0.89, earning the stock a GF Value rank of 9.


Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.

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