Insightful Portfolio Adjustments Highlight Growth Opportunities in Healthcare
Eaton Vance Worldwide Health Sciences Fund (Trades, Portfolio), a distinguished investment entity focusing on global health care advancements, has recently disclosed its N-PORT filing for the third quarter of 2024. The fund strategically invests in companies at the forefront of health care innovation, including biotechnology, pharmaceuticals, and medical equipment. With a keen eye on demographic trends and technological breakthroughs, the fund aims to capitalize on the increasing global health care expenditure driven by an aging population and rising incomes. Managed from Boston and London, the fund's portfolio managers are adept at identifying stocks with substantial growth potential relative to their fundamental value.
New Strategic Acquisitions
Eaton Vance Worldwide Health Sciences Fund (Trades, Portfolio) expanded its portfolio by acquiring shares in two notable companies during the third quarter of 2024:
- Humana Inc (HUM, Financial) emerged as a significant new addition with 55,766 shares, representing 1.78% of the portfolio and a total investment of $19.77 million.
- Waystar Holding Corp (WAY, Financial) was also added with 246,999 shares, accounting for approximately 0.6% of the portfolio, valued at $6.72 million.
Key Position Increases
The fund also strategically increased its stakes in several companies, reinforcing its commitment to promising health care investments:
- Coloplast AS (OCSE:COLO B, Financial) saw an addition of 26,625 shares, bringing the total to 81,388 shares. This adjustment marks a 48.62% increase in share count, impacting the portfolio by 0.33%, with a total value of kr11.08 million.
- The iShares Global Healthcare ETF (IXJ, Financial) also experienced a significant boost with an additional 28,476 shares, resulting in a total of 77,212 shares. This adjustment represents a 58.43% increase in share count, valued at $7.82 million.
Strategic Reductions in Holdings
Conversely, the fund reduced its positions in several stocks, aligning its portfolio more closely with its strategic vision:
- Intuitive Surgical Inc (ISRG, Financial) was reduced by 18,718 shares, a decrease of 18.29%, impacting the portfolio by -0.74%. The stock traded at an average price of $447.73 during the quarter and has seen a 13.94% return over the past three months and 53.67% year-to-date.
- Stryker Corp (SYK, Financial) saw a reduction of 21,343 shares, a 23.55% decrease, impacting the portfolio by -0.72%. The stock traded at an average price of $339 during the quarter, with an 8.25% return over the past three months and 23.82% year-to-date.
Portfolio Overview and Sector Focus
As of the third quarter of 2024, Eaton Vance Worldwide Health Sciences Fund (Trades, Portfolio)'s portfolio comprised 43 stocks. The top holdings included 10.78% in Eli Lilly and Co (LLY, Financial), 7.62% in UnitedHealth Group Inc (UNH, Financial), 7.06% in Novo Nordisk AS (OCSE:NOVO B, Financial), 5.26% in AbbVie Inc (ABBV, Financial), and 5% in AstraZeneca PLC (LSE:AZN, Financial). The investments are predominantly concentrated in the healthcare sector, reflecting the fund's specialized focus.
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