Yahoo Finance Eaton Vance Worldwide Health Sciences Fund Bolsters Position in IDEXX Laboratories
Insightful N-PORT Filing Reveals Strategic Moves in Health Sciences Investments
Eaton Vance Worldwide Health Sciences Fund (Trades, Portfolio), known for its strategic investments in the health care sector, has disclosed its first-quarter portfolio for 2024. The fund focuses on companies engaged in health-related scientific advancements, leveraging demographic trends, innovation, and rising global incomes to identify growth opportunities. With a keen eye for value and potential market share gains, the fund's latest N-PORT filing showcases its investment acumen, particularly in IDEXX Laboratories Inc, which now represents a significant portion of its portfolio.
Summary of New Buy
Eaton Vance Worldwide Health Sciences Fund (Trades, Portfolio) has expanded its portfolio with a new addition:
IDEXX Laboratories Inc (NASDAQ:IDXX), with 20,159 shares, now constitutes 1.14% of the portfolio, amounting to a total value of $11.6 million.
Key Position Increases
The fund has also strategically increased its stakes in several companies:
The Cooper Companies Inc (NASDAQ:COO) saw an addition of 29,112 shares, bringing the total to 204,940 shares. This represents a 16.56% increase in share count and a 0.27% impact on the current portfolio, valued at $19,182,380.
CSL Ltd (ASX:CSL) received an additional 13,833 shares, totaling 115,187 shares. This adjustment marks a 13.65% increase in share count, with a total value of A$21,443,700.
Summary of Sold Out Positions
The fund has completely divested from two holdings in the first quarter of 2024:
Agiliti Inc (NYSE:AGTI) saw the sale of all 702,673 shares, impacting the portfolio by -0.6%.
Envista Holdings Corp (NYSE:NVST) was liquidated of all 206,075 shares, causing a -0.49% impact on the portfolio.
Key Position Reductions
Reductions were made in eight stocks, with notable changes including:
Humana Inc (NYSE:HUM) was reduced by 21,822 shares, leading to a -44.62% decrease in shares and a -1.12% impact on the portfolio. The stock traded at an average price of $420.81 during the quarter and has seen a -22.14% return over the past three months and -31.56% year-to-date.
Zimmer Biomet Holdings Inc (NYSE:ZBH) was cut by 78,270 shares, resulting in a -53.05% reduction in shares and a -0.96% impact on the portfolio. The stock's average trading price was $122.12 during the quarter, with a 1.67% return over the past three months and a 0.68% year-to-date return.
Portfolio Overview
As of the first quarter of 2024, Eaton Vance Worldwide Health Sciences Fund (Trades, Portfolio)'s portfolio comprises 40 stocks. The top holdings include 9.5% in Eli Lilly and Co (NYSE:LLY), 6.95% in UnitedHealth Group Inc (NYSE:UNH), 6.62% in Novo Nordisk A/S (OCSE:NOVO B), 5.47% in AbbVie Inc (NYSE:ABBV), and 5.16% in Thermo Fisher Scientific Inc (NYSE:TMO). The investments are predominantly concentrated in the Healthcare sector, reflecting the fund's specialized focus.
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This article first appeared on GuruFocus.
