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Marshall Wace’s Return, AUM, and Holdings (Part II)

Read the beginning of this article here.

At the end of March 2019, Marshall Wace held the most valuable position in Zoetis Inc. (NYSE:ZTS), the biggest producer of vaccinations and medicine for livestock and pets that was once a part of the world’s biggest drug maker, Pfizer. The company has a market cap of $54.81 billion, while trading at a P/E ratio of 40.04. Year-to-date, its stock price gained 34.43%, and on July 1st, it had a closing price of $113.57. For the first quarter of 2019, Zoetis reported revenues of $1.46 billion and diluted EPS of $0.65, compared to revenues of $1.37 billion and diluted EPS of $0.72 for the same quarter of 2018. On July 1st, Bank of America downgraded its rating on the stock to ‘Neutral’ from ‘Buy’ with a price target of $120.00, while about a week earlier Craig Hallum increased its price target to $132.00 from $114.00 with a ‘Buy’ rating on it. At the end of the quarter, Marshall Wace held 3.78 million Zoetis shares that were worth $380.51 million, comprising 2.39% of its 13F portfolio.

Boston Scientific Corporation (NYSE:BSX) was the fund second biggest holding at the end of the quarter, worth $345.52 million, counting 9 million shares outstanding. This position amassed 2.17% of its diversified portfolio. Boston Scientific Corporation is a medical device manufacturer with a market cap of $59.24 billion. Over the last 12 months, its stock gained 27.64% and on July 1st it closed with a price of $42.90. Its P/E ratio is 33.29. In its last financial report for Q1 2019, the company reported net sales of $2.49 billion and net income per common share-assuming dilution of $0.30, versus net sales of $2.38 billion and net income per common share-assuming dilution of $0.21 in the first quarter of the prior year. On June 27, Stifel Nicolaus raised its price target on the stock to $46.00 from $44.00 with ‘In-Line’ rating on the stock.

The third largest stake the fund held in Pfizer Inc. (NYSE:PFE) worth $315.64 million, counting 7.43 million shares, accounting for 1.98% of the fund’s equity portfolio.

Marshall Wace’s most valuable quarterly portfolio addition was bluebird bio, Inc. (NASDAQ:BLUE) in which the fund attained $74.88 million worth a position, by obtaining 475,962 shares. Bluebird bio is a clinical-stage biotechnology company that works on inventing new changing gene therapies for treating cancer and various genetic illnesses. The company has a market cap of $7.14 billion, and over the last six months, its stock gained 28.94%, closing with $128.30 on July 1st. The second in the line of big new positions during Q1 2019, was Takeda Pharmaceutical Company Limited (NYSE:TAK), one of the world’s biggest pharmaceutical companies by revenue and the largest in Asia.  Takeda has a market cap of $55.02 billion, and it is trading at a P/E ratio of 21.76. Since the beginning of the year, its stock has gained 4.93%, and on July 1st it had a closing price of $17.65. During Q1 2019, Marshall Wace purchased 1.96 million Takeda’s shares, establishing in that manner a position that was worth $60.38 million, comprising 0.37% of its 13F portfolio. The third biggest addition to its portfolio was Worldpay, Inc. (NYSE:WP), a Cincinnati, Ohio-based payment processing company with a market cap of $39.41 billion. The fund acquired 530,533 Worldpay’s shares with a value of $60.22 million.

Disclosure: None

This article was originally published at Insider Monkey.

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