Glenview Capital Management, the firm founded by Larry Robbins (Trades, Portfolio), disclosed in regulatory filings that it boosted during February its holdings in Myriad Genetics Inc. (MYGN, Financial) and Butterfly Network Inc. (BFLY, Financial) according to GuruFocus Real-Time Picks, a Premium feature.
During the fourth quarter, the firm also established new holdings in Universal Health Services Inc. (UHS, Financial) and Meta Platforms Inc. (META, Financial) while shuttering its holding in Amazon.com Inc. (AMZN, Financial).
The New York-based firm seeks long-term capital appreciation by investing in stocks based on deep fundamental research and individual security selection. The firm splits its capital into Glenview Funds and Glenview Opportunity Funds; both funds invest primarily in U.S. stocks with a small concentration in Western Europe securities.
As of December 2022, the firm’s $4.51 billion 13F equity portfolio contains 53 stocks, with nine new positions and a quarterly turnover ratio of 14%. The top four sectors in terms of weight are health care, technology, industrials and basic materials, which represent 40.24%, 20.61%, 8.38% and 5.87% of the equity portfolio.
Investors should be aware 13F filings do not give a complete picture of a firm’s holdings as the reports only include its positions in U.S. stocks and American depository receipts, but they can still provide valuable information. Further, the reports only reflect trades and holdings as of the most-recent portfolio filing date, which may or may not be held by the reporting firm today or even when this article was published.
Investors must also be aware that Glenview’s trades in Myriad and Butterfly Network are not part of the firm’s fourth-quarter 13F filing, but real-time picks that took place during the first quarter. If a guru makes a trade in a company he or she has more than 5% of total shares outstanding, the guru must file a Schedule 13D / 13G filing within 10 business days of the trade.
Myriad Genetics
The firm added 1,214,363 shares of Myriad Genetics (MYGN, Financial), boosting the position by 39.2% and its equity portfolio by 0.50%.
Shares of Myriad Genetics traded around $18.54 on the Feb. 24 transaction date; the stock is fairly valued based on its price-to-GF Value ratio of 1.01 as of Thursday.
The Salt Lake City-based genetic research company has a GF Score of 73 out of 100 based on a profitability rank of 6 out of 10, a growth rank of 2 out of 10 and a rank of 7 out of 10 for financial strength, momentum and GF Value.
Myriad Genetics’ financial strength ranks 7 out of 10 on the back of a high Altman Z-score of 3.15 and a debt-to-equity ratio that outperforms more than 60% of global competitors. Despite this, the company has a low Piotroski F-score of 3 out of 9.
Butterfly Network
Glenview purchased 11,944,403 shares of Butterfly Network (BFLY, Financial), expanding the position by 218.57% and its equity portfolio by 0.63%. Shares of Butterfly Network traded around $2.39 on the Feb. 13 transaction date.
The Gilford, Connecticut-based innovative digital health company has a financial strength rank of 6 out of 10 on the back of cash-to-debt and debt-to-equity ratios outperforming more than 64% of global competitors.
Despite good financial strength, Butterfly Network does not have enough data to compute ranks for growth, profitability, GF Value and momentum and thus, the GF Score of 18 out of 100 may give an incomplete picture of the stock’s potential.
Universal Health Services
The firm purchased 905,748 shares of Universal Health Services (UHS, Financial), giving the position 2.83% equity portfolio weight. Shares averaged $118.04 during the fourth quarter.
GuruFocus’ GF Value Line labeled the King of Prussia, Pennsylvania-based acute care hospital service company modestly undervalued based on the company’s price-to-GF Value ratio of 0.79 as of Thursday.
Universal Health Services has a GF Score of 93 out of 100 based on a growth rank of 10 out of 10, a profitability rank of 9 out of 10, a GF Value rank of 7 out of 10, a momentum rank of 6 out of 10 and a financial strength rank of 5 out of 10.
The company’s profitability ranks 9 out of 10 based on several positive investing signs, which include a five-star business predictability rank, a high Piotroski F-score of 7 out of 9 and a gross profit margin that outperforms more than 90% of global competitors.
Meta Platforms
The firm invested in 526,142 shares of Meta Platforms (META, Financial), giving the position 1.40% equity portfolio weight. Shares of Meta averaged $117.43 during the fourth quarter.
GuruFocus’ GF Value Line labeled the Menlo Park, California-based social media giant’s stock significantly undervalued based on the company’s price-to-GF Value ratio of 0.46 as of Thursday.
Meta has a GF Score of 90 out of 100 based on a growth rank of 10 out of 10, a profitability rank of 9 out of 10, a financial strength rank of 8 out of 10 and a rank of 4 out of 10 for momentum and GF Value.
Amazon.com
The firm sold all 1,152,511 shares of Amazon.com (AMZN, Financial), trimming 3.26% of its equity portfolio. Shares averaged $98.78 during the fourth quarter.
GuruFocus’ GF Value Line labeled the Seattle-based e-commerce giant a possible value trap based on its low price-to-GF Value ratio of 0.46 as of Thursday and a poor momentum rank of 4 out of 10.
Despite low momentum, Amazon.com has a GF Score of 86 out of 100 based on a growth rank of 10 out of 10, a profitability rank of 8 out of 10, a financial strength rank of 6 out of 10 and a GF Value rank of 4 out of 10.
