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Vanguard Health Care Fund Trims Positions in Vertex, Regeneron, Illumina

Fund's largest 3rd-quarter sales

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Nov 02, 2017
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Founded in 1984, the 

Vanguard Health Care Fund (Trades, Portfolio) is managed by Jean Hynes. During the third quarter, the fund reduced its positions in the following stocks:

The fund's Vertex Pharmaceuticals Inc. (

VRTX, Financial) holding was reduced by 16.93%, impacting the portfolio by -0.55%.

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The biotechnology company has a market cap of $36.07 billion and an enterprise value of $34.86 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity (ROE) of 13.68% and return on assets (ROA) of 6.55% are outperforming 90% of companies in the Global Biotechnology industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 3.09 is below the industry median of 51.38.

Another notable guru shareholder is

Spiros Segalas (Trades, Portfolio) with 3.82% of outstanding shares, followed by Manning & Napier Advisors Inc. with 0.64% and Pioneer Investments (Trades, Portfolio) with 0.52%.

Vanguard reduced its Regeneron Pharmaceuticals Inc. (

REGN, Financial) stake by 11.96%. The trade had an impact of -0.41% on the portfolio.

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The biopharmaceutical company has a market cap of $42.54 billion and an enterprise value of $41.97 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 24.67% and ROA of 16.07% are outperforming 95% of companies in the Global Biotechnology industry. Financial strength has a rating of 8 out of 10. The cash-debt ratio of 1.81 is below the industry median of 51.38.

Frank Sands (Trades, Portfolio) is another notable guru shareholder with 2.68% of outstanding shares, followed by Segalas with 0.49%, Manning & Napier with 0.28% and the  Eaton Vance Worldwide Health Sciences Fund (Trades, Portfolio) with 0.04%.

The Bristol-Myers Squibb Co. (

BMY, Financial) position was trimmed 5.50%. The transaction had an impact of -0.35% on the portfolio.

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The drug manufacturer has a market cap of $101.74 billion and an enterprise value of $101.19 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The ROE of 27.94% and ROA of 12.60% are outperforming 86% of companies in the Global Drug Manufacturers - Major industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 0.84 is below the industry median of 2.89.

Dodge & Cox is another notable guru shareholder with 1.81% of the company's outstanding shares, followed by

Jim Simons (Trades, Portfolio) with 0.82%, Segalas with 0.59% and PRIMECAP Management (Trades, Portfolio) with 0.39%.

The fund's holding of Illumina Inc. (

ILMN, Financial) was reduced by 27.97%, with an impact of -0.28% on the portfolio.

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The manufacturer of medical equipment has a market cap of $30.33 billion and an enterprise value of $29.47 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 30.86% and ROA of 16.98% are outperforming 92% of companies in the Global Medical Instruments and Supplies industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 1.73 is above the industry median of 1.69.

The company's largest shareholder among the gurus is Sands with 3.57% of outstanding shares, followed by PRIMECAP Management with 1.39%, Vanguard with 1.32% and

Ron Baron (Trades, Portfolio) with 0.31%.

The fund curbed its Cigna Corp. (

CI, Financial) stake by 9.49%. The trade had an impact of -0.24% on the portfolio.

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The health insurance company has a market cap of $49.81 billion and an enterprise value of $50.83 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. While the ROE of 16.10% is outperforming the sector, the ROA of 3.72% is underperforming 59% of companies in the Global Health Care Plans industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.76 is below the industry median of 1.51.

Dodge & Cox is the company's largest shareholder among the gurus with 5.52% of outstanding shares, followed by

Larry Robbins (Trades, Portfolio) with 1.49%, Barrow, Hanley, Mewhinney & Strauss with 0.79% and Richard Pzena (Trades, Portfolio) with 0.71%.

The UnitedHealth Group Inc. (

UNH, Financial) stake was reduced by 3.65%, impacting the portfolio by -0.21%.

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The health insurer has a market cap of $203.59 billion and an enterprise value of $212.05 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 20.70% and ROA of 6.51% are outperforming 63% of companies in the Global Health Care Plans industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.68 is below the industry median of 1.51.

Another notable guru shareholder is Dodge & Cox with 1.04% of outstanding shares, followed by

Jeremy Grantham (Trades, Portfolio) with 0.37% and Andreas Halvorsen (Trades, Portfolio) with 0.27%.

The fund curbed its Aetna Inc. (

AET, Financial) position by 8.91%. The trade had an impact of -0.15% on the portfolio.

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The health care benefits company has a market cap of $57.05 billion and an enterprise value of $58.65 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 11.05% and ROA of 2.89% are underperforming 75% of companies in the Global Health Care Plans industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.87 is below the industry median of 1.51.

Chris Davis (Trades, Portfolio) is another notable guru shareholder with 1.22% of the company's outstanding shares, followed by Robbins with 1.02% and Diamond Hill Capital (Trades, Portfolio) with 0.5%.

Vanguard reduced its Intuitive Surgical Inc. (

ISRG, Financial) holding by 42.55%, impacting the portfolio by -0.14%.

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The medical devices manufacturer has a market cap of $42.13 billion and an enterprise value of $39.99 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 18.11% and ROA of 15.91% are outperforming 87% of companies in the Global Medical Devices industry. Financial strength has a rating of 9 out of 10 with no debt.

With 0.82% of outstanding shares, Simons is the company's largest guru shareholder, followed by Manning & Napier with 0.25%, Eaton Vance with 0.08%, Baron with 0.03% and

John Paulson (Trades, Portfolio) with 0.03%.

Disclosure: I do not own any stocks mentioned in this article.

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