Billionaire Larry Robbins’ Big Q4 Moves in Humana Inc. (HUM), CIGNA Corporation (CI) and Others

The New York-based hedge fund firm was extremely bullish on HCA Holdings Inc. (NYSE:HCA) in the December quarter, as it increased its position in HCA by 8.79 million shares to 14.30 million shares, valued at $967.15 million at the end of 2015. The shares of the owner and operator of hospitals and related healthcare entities are 2% in the green year-to-date. The company’s revenue for 2015 totaled $39.68 billion, which represented an increase from the $36.92 billion that it reported for 2014. HCA Holdings Inc. (NYSE:HCA)’s net income also rose to $2.13 billion or $4.99 per diluted share in 2015, up from $1.88 billion or $4.16 per diluted share reported for 2014. It should be noted that the stock trades at a forward P/E of 10.18, which is below the average of 14.10 for the Healthcare industry. HCA’s management anticipates 2016 revenue to be in the range of $41.5 billion to $42.5 billion. Samuel Isaly’s Orbimed Advisors increased its position in HCA Holdings Inc. (NYSE:HCA) by 3% during the October-to-December period, to 5.96 million shares.

Glenview Capital did not share the same optimism when it came to Thermo Fisher Scientific Inc. (NYSE:TMO), as the investment firm trimmed its stake in the company by 2.58 million shares during the December quarter, to 5.93 million shares. The stake was worth $841.64 million at the end of December 2015. The scientific-equipment maker has seen its shares decline by 8% since the beginning of 2016 and the stock currently trades at a forward P/E multiple of 14.97, which is below the multiple of 17.66 for competitor Agilent Technologies Inc. (NYSE:A). Thermo Fisher Scientific Inc. (NYSE:TMO)’s target markets include pharmaceutical and biotech companies, hospitals, universities, research institutions and government agencies. Congress approved a $2 billion increase to the budget for the National Institutes of Health in December, which makes us believe that the increased budget could help improve the performance of Thermo Fisher in the coming year. Thermo Fisher reported revenue of $16.97 billion for 2015, up from $16.89 billion reported for 2014. Boykin Curry’s Eagle Capital Management reported owning 4.46 million shares of Thermo Fisher Scientific Inc. (NYSE:TMO) through its latest 13F.

Larry Robbins cut his fund’s holding in AbbVie Inc. (NYSE:ABBV) by 2.63 million shares during the final quarter of 2015, ending the year with 13.54 million shares valued at $802.40 million. The stock of the research-based biopharmaceutical company is down by 6% since the beginning of 2016. The company’s worldwide net revenue totaled $22.9 billion for 2015, up by 15% year-over-year. The increase was mainly attributable to the sustained strength of AbbVie Inc. (NYSE:ABBV)’s primary product, HUMIRA, and the global launch of its interferon-free HCV treatment. HUMIRA accounted for roughly 61% of the company’s total net revenue in 2015. AbbVie is the top-ranked global pharmaceutical stock by Jefferies, which has a price target of $80 on the stock. Analysts at Jefferies have given the stock Top Global Pick status, citing its cheap valuation and strong catalysts in 2016. Neil Woodford’s Woodford Investment Management holds an 8.79 million-share position in AbbVie Inc. (NYSE:ABBV) as of the end of December.

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