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David Goodloe
David Goodloe
Articles (769) 

Pharmaceutical Stocks Hold Prominent Positions in Kyle Bass' 3rd-Quarter Activity

Guru also active in energy, agricultural companies

Health care stocks are the most heavily weighted stocks in Kyle Bass (Trades, Portfolio)’ portfolio so it is no surprise that health care-related stocks would hold prominent positions in his third-quarter transactions.

Bass’ most significant third-quarter transaction was the sale of his 836,593-share stake in Perrigo Co. PLC (NYSE:PRGO), a pharmaceutical company with offices in Dublin and Allegan, Mich., for an average price of $183.44 per share. The deal had a -18.25% impact on Bass’ portfolio.

Perrigo has a market cap of $22.03 billion and an enterprise value of $26.88 billion. It has a P/E of 151.2, a forward P/E of 16.2, a P/B of 2.1 and a P/S of 4.3. GuruFocus has given Perrigo a Financial Strength rating of 4/10 and a Profitability and Growth rating of 6/10.

Vanguard Health Care Fund (Trades, Portfolio), Eric Mindich (Trades, Portfolio), John Paulson (Trades, Portfolio), Ruane Cunniff (Trades, Portfolio), David Rolfe (Trades, Portfolio), Richard Perry (Trades, Portfolio), Meridian Funds (Trades, Portfolio), Paul Singer (Trades, Portfolio), Jim Simons (Trades, Portfolio), Ken Fisher (Trades, Portfolio), George Soros (Trades, Portfolio), John Keeley (Trades, Portfolio), Robert Bruce (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio) and Mario Gabelli (Trades, Portfolio) have shares of Perrigo in their portfolios.

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Perrigo sold for $150.49 per share Friday.

Bass sold his 1,178,332-share stake in Oasis Petroleum Inc. (NASDAQ:OAS), a Houston-based oil and gas company, for an average price of $10.48 per share. The transaction had a -2.2% impact on Bass’ portfolio.

Oasis has a market cap of $1.57 billion and an enterprise value of $3.94 billion. It has a P/E of 8.1, a forward P/E of 769.2, a P/B of 0.7 and a P/S of 1.6. GuruFocus has given Oasis Petroleum a Financial Strength rating of 7/10 and a Profitability and Growth rating of 6/10.

John Paulson (Trades, Portfolio), Paul Singer (Trades, Portfolio), Ron Baron (Trades, Portfolio) and Jeremy Grantham (Trades, Portfolio) have shares of Oasis in their portfolios.

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On Friday Oasis Petroleum sold for $11.32 per share.

Bass bought a 606,618-share stake in Impax Laboratories Inc. (IPXL), a Hayward, Calif.-based pharmaceutical company, for an average price of $45.1 per share. The deal had a 9.86% impact on Bass’ portfolio.

Impax has a market cap of $3.14 billion and an enterprise value of $3.24 billion. It has a P/E of 119.8, a forward P/E of 19, a P/B of 3.1 and a P/S of 4.5. GuruFocus has given Impax a Financial Strength rating of 9/10 and a Profitability and Growth rating of 5/10.

Alan Fournier (Trades, Portfolio), NWQ Managers (Trades, Portfolio), John Hussman (Trades, Portfolio), Steven Cohen (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) have shares of Impax in their portfolios.

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Impax Laboratories sold for $44.57 per share Friday.

Bass acquired a 464,101-share stake in CF Industries Holdings Inc. (NYSE:CF), a Deerfield, Ill.-based manufacturer and distributor of agricultural fertilizers, for an average price of $58.16 per share. The deal had a 9.62% impact on Bass’ portfolio.

CF Industries has a market cap of $10.51 billion and an enterprise value of $15.52 billion. It has a P/E of 11.8, a forward P/E of 10.5, a P/B of 2.6 and a P/S of 2.4. GuruFocus has given CF Industries a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.

John Burbank (Trades, Portfolio), First Eagle Investment (Trades, Portfolio), Jim Simons (Trades, Portfolio), John Hussman (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio) and David Dreman (Trades, Portfolio) have shares of CF Industries in their portfolios.

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On Friday CF Industries sold for $45.11 per share.

Bass bought a 210,715-share stake in GW Pharmaceuticals PLC (NASDAQ:GWPH), a British pharmaceutical company, for an average price of $111.19 per share. The transaction had a 8.89% impact on Bass’ portfolio.

GW Pharmaceuticals has a market cap of $1.67 billion and an enterprise value of $1.45 billion. It has a P/B of 4.5 and a P/S of 37.1. GuruFocus has given GW Pharmaceuticals a Financial Strength rating of 5/10 and a Profitability and Growth rating of 2/10.

Jim Simons (Trades, Portfolio) has shares of GW Pharmaceuticals in his portfolio.

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GW Pharmaceuticals sold for $84.9 per share Friday.

Bass raised his stake in NMI Holdings Inc. (NASDAQ:NMIH), an Emeryville, Calif.-based provider of private mortgage guaranty insurance services, by more than 34%, acquiring 1,875,000 shares for an average price of $8.2 per share. The deal had a 6.58% impact on Bass’ portfolio.

NMI Holdings has a market cap of $421.8 million and an enterprise value of $289.01 million. It has a forward P/E of 80, a P/B of 1.0 and a P/S of 9.8. GuruFocus has given NMI Holdings a Financial Strength rating of 5/10 and a Profitability and Growth rating of 3/10.

Bass is NMI Holdings’ leading shareholder among the gurus. Howard Marks (Trades, Portfolio), Jim Simons (Trades, Portfolio), Signature Select Canadian Fund (Trades, Portfolio) and Chuck Royce (Trades, Portfolio) also have shares of NMI Holdings in their portfolios.

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On Friday NMI Holdings sold for $7.18 per share.

Bass increased his stake in Biomarin Pharmaceutical Inc. (NASDAQ:BMRN), a San Rafael, Calif.-based pharmaceutical company, by nearly 1,210%. Bass bought 119,615 shares for an average price of $133.58 per share. The transaction had a 5.82% impact on Bass’ portfolio.

Biomarin Pharmaceutical has a market cap of $15.55 billion and an enterprise value of $15.59 billion. It has a P/B of 6.8 and a P/S of 16.9. GuruFocus has given Biomarin a Financial Strength rating of 7/10 and a Profitability and Growth rating of 4/10.

Frank Sands (Trades, Portfolio), PRIMECAP Management (Trades, Portfolio), John Griffin (Trades, Portfolio), Jim Simons (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Signature Select Canadian Fund (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) have shares of Biomarin in their portfolios.

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Biomarin sold for $96.45 per share Friday.

Bass raised his stake in Vertex Pharmaceuticals Inc. (NASDAQ:VRTX), a Boston-based pharmaceutical company, by nearly 1,018% with the purchase of 91,051 shares for an average price of $128.47 per share. The deal had a 4.38% impact on Bass’ portfolio.

Vertex has a market cap of $32.7 billion and an enterprise value of $32.65 billion. It has a forward P/E of 37, a P/B of 35.5 and a P/S of 42.1. GuruFocus has given Vertex a Financial Strength rating of 7/10 and a Profitability and Growth rating of 5/10.

Vanguard Health Care Fund (Trades, Portfolio), Andreas Halvorsen (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Steven Cohen (Trades, Portfolio) and Ken Fisher (Trades, Portfolio) have shares of Vertex in their portfolios.

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On Friday Vertex sold for $133.06 per share.

Bass reduced his stake in Mylan NV (NASDAQ:MYL), a West Virginia-based pharmaceutical company, by nearly 90%. Bass sold 701,346 shares for an average price of $55.75 per share. The transaction had a -5.62% impact on Bass’ portfolio.

Mylan has a market cap of $25.44 billion and an enterprise value of $31.27 billion. It has a P/E of 29.5, a forward P/E of 10.4, a P/B of 2.6 and a P/S of 2.7. GuruFocus has given Mylan a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.

Vanguard Health Care Fund (Trades, Portfolio), John Paulson (Trades, Portfolio), Jim Simons (Trades, Portfolio), Larry Robbins (Trades, Portfolio), David Tepper (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Scott Black (Trades, Portfolio), Louis Moore Bacon (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), John Keeley (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio) and Tom Russo (Trades, Portfolio) have shares of Mylan in their portfolios.

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Mylan sold for $51.74 Friday.

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About the author:

David Goodloe
I'm a journalist by training. I grew up in Arkansas and earned my B.A. at the University of Arkansas. I earned my master's degree at the University of North Texas. My background includes stints at newspapers in Arkansas and Texas and teaching news writing and news editing to students at the University of Oklahoma and Richland College here in Dallas. I'm a writer/editor at GuruFocus.

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