Yahoo Finance Eaton Vance Worldwide Health Sciences Fund's Strategic Moves in Q2 2024: Spotlight on ...
Insightful Analysis of Recent Portfolio Adjustments and Their Market Implications
Eaton Vance Worldwide Health Sciences Fund (Trades, Portfolio), known for its strategic investments in the global health care sector, recently disclosed its N-PORT filing for the second quarter of 2024. The fund focuses on companies involved in health care advancements, including biotechnology, pharmaceuticals, and medical equipment. With a keen eye on demographic trends and innovation, the fund's investment strategy is geared towards entities that show potential for sustainable growth. Managed from Boston and London, the fund aims to identify stocks that are reasonably priced relative to their fundamental value, which are poised for growth irrespective of market volatilities.
Summary of New Buys
Eaton Vance Worldwide Health Sciences Fund (Trades, Portfolio) expanded its portfolio by adding four new stocks in the second quarter of 2024. Key new holdings include:
Mettler-Toledo International Inc (NYSE:MTD), with 8,857 shares, making up 1.22% of the portfolio and valued at $12.44 million.
Coloplast A/S (OCSE:COLO B), with 54,763 shares, representing 0.65% of the portfolio, valued at approximately kr6.59 million.
Option Care Health Inc (NASDAQ:OPCH), with 178,995 shares, accounting for 0.53% of the portfolio, valued at $5.34 million.
Key Position Increases
The fund also increased its stakes in several existing holdings, notably:
Zoetis Inc (NYSE:ZTS), with an additional 18,605 shares, bringing the total to 191,881 shares. This adjustment increased the share count by 10.74%, impacting the portfolio by 0.31%, with a total value of $32.54 million.
IDEXX Laboratories Inc (NASDAQ:IDXX), with an additional 5,748 shares, bringing the total to 25,907 shares. This represents a 28.51% increase in share count, valued at $12.87 million.
Summary of Sold Out Positions
The fund completely exited several positions during the quarter, including:
Humana Inc (NYSE:HUM), where all 27,083 shares were sold, impacting the portfolio by -0.93%.
Zimmer Biomet Holdings Inc (NYSE:ZBH), with all 69,275 shares liquidated, causing a -0.85% impact on the portfolio.
Key Position Reductions
Significant reductions were made in the following stocks:
Roche Holding AG (XSWX:ROG), reduced by 18,463 shares, resulting in a 13% decrease in shares and a -0.47% portfolio impact. The stock traded at an average price of CHF227.53 during the quarter.
Neurocrine Biosciences Inc (NASDAQ:NBIX), reduced by 31,916 shares, marking a 23.68% reduction and a -0.41% impact on the portfolio. The stock's average trading price was $138.29 during the quarter.
Portfolio Overview
As of the second quarter of 2024, Eaton Vance Worldwide Health Sciences Fund (Trades, Portfolio)'s portfolio included 41 stocks. Top holdings comprised 10.37% in Eli Lilly and Co (NYSE:LLY), 7.54% in Novo Nordisk A/S (OCSE:NOVO B), 7% in UnitedHealth Group Inc (NYSE:UNH), 5.39% in AstraZeneca PLC (LSE:AZN), and 5.02% in AbbVie Inc (NYSE:ABBV). The holdings are predominantly concentrated in the healthcare sector.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
