Conan Laughlin’s North Tide Capital Loves These Stocks

Boston-based North Tide Capital was founded by Conan Laughlin in 2011. The fund focuses on the healthcare industry and has an estimated about $850 million in assets. Prior to North Tide Capital, Conan served as a portfolio manager at Israel Englander‘s Millennium Management LLC from 2005-2011. He graduated from the College of William and Mary in 1995.

Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA)

In its latest 13F, North Tide Capital revealed a total of 28 positions as held at the end of the fourth quarter of 2013. The value of the fund’s equity portfolio amounted to around $1.1 billion, up from $953.3 million disclosed in the third quarter. From North Tide Capital’s 13F, we have picked the top five largest holdings in term of value.

On the top position is Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), in which North Tide Capital boosted its stake to 2.75 million shares from 2.33 million. The value of holding was $110.2 million. Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) develops, produces and markets generic drugs in all treatment categories. Jeffrey Altman’s Owl Creek Asset Management, in its most recent 13F, disclosed initiating a new position in Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), acquiring 1.18 million shares of the company.

The fund trimmed its position in WellPoint Inc (NYSE:WLP) to 900,000 shares from 1.05 million held previously. The company is one of the leading health benefits companies in the United States, and had a market cap of $27.6 billion. Jean-Marie Eveillard’s First Eagle Investment Management is one of the largest shareholders of the company, owning 5.28 million shares.

WellPoint Inc (NYSE:WLP) reported fourth-quarter 2013 net income of $148.2 million, or $0.49 per share, compared to $464.2 million, or $1.51 per share in the same period in 2012. Full-year 2013 net income totaled about $2.5 billion, or $8.20 per share, compared to $2.7 billion, or $8.18 per share, in 2012.

For full-year 2014, the company expects net income to be greater than $8.20 per share, driven by growth of 1.0 to 1.3 million net new medical members and mid-single digit percent increases in both operating revenue and operating gain, according to a statement.

North Tide Capital liked Select Medical Holdings Corporation (NYSE:SEM) as the fund raised its stake in the company to 7.0 million shares, worth $81.3 million, from 4.0 million shares held previously. Select Medical Holdings Corporation (NYSE:SEM) operates specialty hospitals in the United States, and as of December 31, 2013, it operated 108 long-term acute care hospitals and 15 acute medical rehabilitation hospitals in 28 states. Another investor Chuck Royce’s Royce & Associates disclosed owning 1.40 million shares of the company at the end of 2013.

In January 2014, Select Medical Holdings Corporation (NYSE:SEM) announced its business outlook for calendar year 2014. The company said it expects consolidated net operating revenues for the full year 2014 to be in the range of $3.05 billion to $3.15 billion. It expects net income before interest, income taxes, depreciation and amortization, stock compensation expense, other income/(expense), and equity in earnings/(losses), or adjusted EBITDA for the full year 2014 to be in the range of $365 million to $385 million. The company forecasts fully diluted income per common share for the full year 2014 to be between $0.84 and $0.93.

In Actavis plc (NYSE:ACT), North Tide Capital disclosed ownership of 450,000 shares, with a reported value of $75.6 million. The stake represents an increase from 100,000 shares the fund held previously. Actavis plc (NYSE:ACT) is a global, integrated specialty pharmaceutical company focused on developing, manufacturing and distributing generic, brand and biosimilar products. The company’s net revenue increased 59% to $2.8 billion for the fourth quarter ended December 31, 2013, compared to $1.8 billion in the fourth quarter 2012. For the full-year 2013, net revenue increased 47% to $8.7 billion, compared to net revenue of $5.9 billion for full year 2012, according to a statement.

North Tide Capital was bullish on Healthways Inc. (NASDAQ:HWAY), raising its position to 3.85 million shares from 2.80 million shares. The value of holding was $59.1 million. Healthways Inc. (NASDAQ:HWAY) is the largest independent global provider of well-being improvement solutions, and has a market cap of $565.1 million.

In addition, North Tide Capital sold out its stakes in Weight Watchers International Inc. (NYSE:WTW) and Volcano Corporation (NASDAQ:VOLC), previously owning 350,000 shares and 800,000 shares, respectively.

Disclosure: none

Recommended Reading:

North Tide Capital Increases Activist Position in Healthways, Inc. (HWAY) to 11%

Farallon Capital Management Sells 3.51 Mln Shares of Hudson Pacific Properties Inc (HPP)

Hedge Fund News: Phil Falcone, John Paulson & Thomas Kempner

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!