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The Eaton Vance Fund Exits Aetna, Bristol Myers

- By Tiziano Frateschi

The Eaton Vance Worldwide Health Sciences Fund (Trades, Portfolio), which provides advanced, customized solutions to forward-thinking investors, sold shares of the following stocks during the third quarter.


The fund closed its Aetna Inc. (AET) holding. The trade had an impact of -1.82% on the portfolio.

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The company, which offers health insurance products and related services, has a market cap of $69.64 billion and an enterprise value of $68.65 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 22.01% and return on assets of 6.38% are underperforming 68% of companies in the Global Health Care Plans industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.83 is below the industry median of 1.15.

The company's largest shareholder among the gurus is Chris Davis (Trades, Portfolio) with 1.4% of outstanding shares, followed by Larry Robbins' (Trades, Portfolio) Glenview Capital Management with 1.1%, Diamond Hill Capital (Trades, Portfolio) with 0.63% and David Abrams (Trades, Portfolio) with 0.25%.

The firm exited its position in Allergan PLC (AGN). The trade had an impact of -1.82% on the portfolio.

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The specialty pharmaceutical company has a market cap of $48.53 billion and an enterprise value of $70.42 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of -7.28% and return on assets of -4.65% are underperforming 67% of companies in the Global Drug Manufacturers - Specialty and Generic industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.08 is below the industry median of 2.03.

The largest shareholder of the company is Vanguard Health Care Fund (Trades, Portfolio) with 4.11% of outstanding shares, followed by Seth Klarman (Trades, Portfolio)'s Baupost Group with 1.47% and Mason Hawkins' (Trades, Portfolio) Southeastern Asset Management with 0.68%.

The guru exited a Bayer AG (BAYN) stake. The trade had an impact of -1.59% on the portfolio.

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The guru sold out of Alexion Pharmaceuticals Inc. (ALXN), impacting the portfolio by -1.50%.

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The biopharmaceutical company has a market cap of $27.07 billion and an enterprise value of $28.38 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 1.70% and return on assets of 1.12% are underperforming 76% of companies in the Global Biotechnology industry. Its financial strength is rated 7 out of 10. The cash-debt ratio of 0.54 is below the industry median of 64.02.

Spiros Segalas (Trades, Portfolio) is the company's largest shareholder among the gurus with 1.52% of outstanding shares, followed by Frank Sands (Trades, Portfolio) with 0.33%, Steven Cohen (Trades, Portfolio)'s Point72 Asset Management with 0.33% and David Carlson (Trades, Portfolio)'s Elfun Trusts with 0.29%.

The guru sold out its Bristol-Myers Squibb Co. (BMY) stake. The trade impacted the portfolio by -1.0%.

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The company, which develops and manufactures biopharmaceuticals products, has a market cap of $79.76 billion and an enterprise value of $80.35 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 37.93% and return on assets of 17.23% are underperforming 59% of companies in the Global Drug Manufacturers - Major industry. Its financial strength is rated 7 out of 10. The cash-debt ratio of 1.21 is below the industry median of 2.03.

The company's largest guru shareholder is Vanguard Health Care Fund (Trades, Portfolio) with 3.12% of outstanding shares, followed by Dodge & Cox with 2.02%, PRIMECAP Management (Trades, Portfolio) with 1.16% and Jim Simons' (Trades, Portfolio) Renaissance Technologies with 0.57%.

The Boston Scientific Corp. (BSX) holding was reduced 24.57%, impacting the portfolio by -0.60%.

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The company, which develops medical devices, has a market cap of $51.78 billion and an enterprise value of $58.24 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 8.89% and the return on assets of 3.46% are outperforming 51% of companies in the Global Medical Devices industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.03 is below the industry median of 2.32.

PRIMECAP Management (Trades, Portfolio) is the company's largest shareholder among the gurus with 3.24% of outstanding shares, followed by Andreas Halvorsen (Trades, Portfolio)'s Viking Global Investors with 0.23%.

The AbbVie Inc. (ABBV) position was trimmed 49.23%, impacting the portfolio by -0.55%.

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The manufacturer of pharmaceutical products that treat chronic autoimmune diseases has a market cap of $118.92 billion and an enterprise value of $150.65 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 312.63% and return on assets of 8.44% are outperforming 79% of companies in the Global Drug Manufacturers - Major industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of -0.04 is below the industry median of 0.64.

The largest guru shareholder of the company is Pioneer Investments (Trades, Portfolio) with 0.18% of outstanding shares, followed by the Simons' firm with 0.08%, Ken Fisher (Trades, Portfolio) with 0.05% and Joel Greenblatt (Trades, Portfolio) with 0.02%.

Disclosure: I do not own any stocks mentioned.

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This article first appeared on GuruFocus.