#3. Triple-S Management Corp. (NYSE:GTS)
– Shares Owned by HealthInvest Partners AB (as of June 30): 532,876
– Value of HealthInvest Partners AB’s Holding (as of June 30): $13.02 Million
The fund management company co-founded by Carl Bennet and Anders Hallberg increased its holding in Triple-S Management Corp. (NYSE:GTS) by 5% during the April-to-June period, ending the second quarter with 532,876 shares. The upped position was worth $13.02 million and constituted 6.0% of the value of the firm’s U.S. equity portfolio. Triple-S Management, one of the most significant players in the managed care industry in Puerto Rico, has seen its shares gain 7% thus far in 2016. The company also participates in the life insurance market and property insurance market. Triple-S Management’s net consolidated premiums earned for the first quarter of 2016 grew by 38.7% year-over-year to $738.5 million, reflecting the change in the Medicaid delivery model from an Administrative Services Only (ASO) model to a risk-based one. Richard S. Pzena’s Pzena Investment Management had 1.42 million shares of Triple-S Management Corp. (NYSE:GTS) among its holdings on March 31.
#2. GNC Holdings Inc. (NYSE:GNC)
– Shares Owned by HealthInvest Partners AB (as of June 30): 681,955
– Value of HealthInvest Partners AB’s Holding (as of June 30): $16.57 Million
HealthInvest Partners AB had 681,955 shares of GNC Holdings Inc. (NYSE:GNC) in its portfolio at the end of June, 95,000 shares more than it did at the end of March. The increased position was valued at $16.57 million on June 30. The health and nutrition products retailer has had 34% of its market value erased since the beginning of 2016, as the company suspended its guidance for the year and its CEO stepped down after a failed turnaround attempt. The fresh resignation of CEO Michael G. Archbold and the appointment of Director Robert F. Moran as interim CEO suggests that the nutritional-supplement specialist is struggling to turn its business around. GNC Holdings saw its second quarter same-store sales decrease by 3.7% year-over-year in domestic company-owned stores. The company sells products through a worldwide network of more than 9,000 locations, but the fast-increasing power of e-commerce seems to have put massive pressure on GNC’s performance. Glenn Russell Dubin’s Highbridge Capital Management owned roughly 738,000 shares of GNC Holdings Inc. (NYSE:GNC) at the end of the first quarter.
Top Stock Pick: Anika Therapeutics Inc. (NASDAQ:ANIK)
– Shares Owned by HealthInvest Partners AB (as of June 30): 412,588
– Value of HealthInvest Partners AB’s Holding (as of June 30): $22.14 Million
Anika Therapeutics Inc. (NASDAQ:ANIK) was the largest equity holding in the Swedish investment firm’s pool of holdings at the end of the June quarter, accounting for 10.2% of the value of the firm’s equity portfolio. HealthInvest Partners AB trimmed its Anika stake by 15% during the second quarter to 412,588 shares, which was valued at $22.14 million on June 30. The shares of the integrated orthopedic medicines company are 28% in the green year-to-date. The company’s orthopedic medicine portfolio comprises Orthovisc and Monivisc, two products designed to alleviate pain and restore joint function by replenishing depleted hyaluronic acid. In early June, Anika Therapeutics announced the commercial launch of Cingal, the company’s third-generation viscosupplement, in the European Union. Cingal was already available in Canada and the company continues to pursue regulatory approval of the product in the United States as well. The company’s second quarter revenue jumped by 16% year-over-year to $26.6 million, after registering a year-over-year growth rate of 44% in the first quarter. Ken Fisher’s Fisher Asset Management has 57,719 shares of Anika Therapeutics Inc. (NASDAQ:ANIK) in its portfolio as of June 30.