Daniel Loeb (Trades, Portfolio) founded Third Point LLC in 1995 and leads the firm’s research activities, portfolio and risk management. During the second quarter the guru's largest sales were as follows:
The guru exited his stake in Amgen Inc. (AMGN) with an impact of -4.14% on the portfolio.
It is a biotechnology company that discovers, develops, manufactures and delivers human therapeutics, which is its sole business segment. Second-quarter revenues increased 6% versus the second quarter of 2015, and GAAP earnings per share (EPS) increased 15%. The company reported 11% for non-GAAP EPS.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10 with ROE of 26.11% and ROA of 10.11% that are outperforming 95% of the companies in the Global Biotechnology industry. Financial strength has a rating of 6 out of 10 with cash to debt of 1.06 that is far below the industry median of 58.74.
The largest shareholder among the gurus is PRIMECAP Management (Trades, Portfolio) with 3.83% of outstanding shares followed by Vanguard Health Care Fund (Trades, Portfolio) with 0.69%, Jim Simons (Trades, Portfolio) with 0.16%, First Eagle Investment (Trades, Portfolio) with 0.13% and Joel Greenblatt (Trades, Portfolio) with 0.08%.
The guru reduced his stake in Dow Chemical Co. (DOW) by 20% with an impact of -2.34% on the portfolio.
It is an integrated science and technology company. The company operates in five segments: Agricultural Sciences, Consumer Solutions, Infrastructure Solutions, Performance Materials & Chemicals and Performance Plastics. During the last quarter earnings per share was $2.61, or operating earnings per share of 95 cents; this compares with earnings per share of 97 cents in the second quarter of a year before, or operating earnings per share of 91 cents.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with ROE of 31.64% and ROA of 11.83% that are outperforming 85% of the companies in the Global Chemicals industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.34 that is below the industry median of 0.82.
Larry Robbins (Trades, Portfolio) is the second-largest shareholder among the gurus with 0.49% of outstanding shares followed by Pioneer Investments (Trades, Portfolio) with 0.26%, Leon Cooperman (Trades, Portfolio) with 0.18% and PRIMECAP Management (Trades, Portfolio) with 0.14%.
The investor closed his stake in Roper Technologies Inc. (ROP) with an impact of -2.27% on the portfolio.
The company designs and develops software both software-as-a-service and licensed and engineered products and solutions for health care, transportation, food, energy, water, education and academic research markets. Second quarter GAAP revenue increased 5% to $932 million and adjusted revenue grew 5%. GAAP gross margin increased to 60.9% and adjusted gross margin increased 90 basis points to 61.0%. The company reported an increase of 4% for EBITDA.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 12.83% and ROA of 6.90% that are outperforming 74% of the companies in the Global Diversified Industrials industry. Financial strength has a rating of 6 out of 10 with cash to debt of 0.20 that is below the industry median of 1.11.
The largest shareholder among the gurus is Chuck Akre (Trades, Portfolio) with 1.54% of outstanding shares followed by Steven Cohen (Trades, Portfolio) with 0.49%, Ron Baron (Trades, Portfolio) with 0.25%, Simons with 0.24% and Caxton Associates (Trades, Portfolio) with 0.12%.
The guru closed his stake in Time Warner Cable Inc. (TWC) with an impact of -2.26% on the portfolio.
The company provides video, high-speed data and voice services. It also offers security and home management services, networking and transport services and enterprise-class, cloud-enabled hosting, managed applications and services.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 21.33% and ROA of 3.84% that are outperforming 59% of the companies in the Global Pay TV industry. Financial strength has a rating of 4 out of 10 with cash to debt of 0.06 that is below the industry median of 0.45.
The investor closed his stake in Baxalta Inc. (BXLT) with an impact of -2.23% on the portfolio.
The company offers biopharmaceuticals for the treatment of hemophilia, bleeding disorders, immune deficiencies, alpha-1 antitrypsin deficiency and other chronic conditions. During the second quarter worldwide sales totaled $2.6 billion, an increase of 4% on a reported basis and 6% on a constant currency basis as compared to the prior-year period. It reported income from continuing operations of $1.2 billion, or $2.19 per diluted share, on a GAAP (Generally Accepted Accounting Principles) basis.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10 with ROE of 18.66% and ROA of 7.04% that are outperforming 87% of the companies in the Global Biotechnology industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.16 that is far below the industry median of 58.75.
The largest shareholder among the gurus is Martin Whitman (Trades, Portfolio) with 0.07% of outstanding shares.
The investor closed his stake in Broadcom Ltd. (AVGO) with an impact of -1.85% on the portfolio.
The company is engaged in designing, developing and supplying analog and digital semiconductor connectivity solutions. Its product portfolio serves four end markets wired infrastructure, wireless communications, enterprise storage and industrial and other. Second quarter net revenue had an increase of 100% the previous quarter and an increase of 119% from the same quarter last year. Gross margin was $1.046 billion, or 30% of net revenue. This compares with gross margin of $941 million, or 53% of net revenue in the prior quarter, and gross margin of $846 million, or 52% of net revenue in the same quarter last year.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of -6.36% and ROA of -2.56% that are underperforming 78% of the companies in the Global Semiconductors industry. Financial strength has a rating of 4 out of 10 with cash to debt of 0.14 that is below industry median of 1.67.
Andreas Halvorsen (Trades, Portfolio) is the largest shareholder of the company among the gurus with 2.58% of outstanding shares followed by Meridian Funds (Trades, Portfolio) with 0.3%, Cohen with 0.15%, Simons with 0.06% and RS Investment Management (Trades, Portfolio) with 0.04%.
The guru reduced his stake in Alphabet Inc. Class AĂ‚ (GOOGL) by 42.86% with an impact of -2.11% on the portfolio.
The company through its subsidiary Google is engaged in improving the ways people connect with information & products including Search, Android, YouTube, Apps, Maps & Ads. It also produces internet-connected home devices and provides Internet services.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10 with ROE of 14.99% and ROA of 12.24 that are outperforming 71% of the companies in the Global Internet Content & Information industry. Financial strength has a rating of 8 out of 10 with cash to debt of 18.67 that is above the industry median of 9.27.
The largest shareholder among the gurus is PRIMECAP Management (Trades, Portfolio) with 0.37% of outstanding shares followed by Spiros Segalas (Trades, Portfolio) with 0.32%, Frank Sands (Trades, Portfolio) with 0.27%, Halvorsen with 0.27% and Ken Fisher (Trades, Portfolio) with 0.14%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
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