Glenview Capital Sells Lowe, Visa, Walgreens, Exits Humana

Larry Robbins' largest 3rd-quarter sales

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Nov 24, 2017
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Glenview Capital Management was founded and is managed by hedge fund billionaire Larry Robbins (Trades, Portfolio). The fund reported solid returns in the last year. The performance of the first six months of 2017 is up 14.8% compared to 9.3% for the S&P 500 Index. During the same period its assets value has risen to $11.5 billion. The following stocks were sold during the third quarter.

The Lowe's Companies Inc. (LOW) holding was trimmed by 36.69%, impacting the portfolio by -1.22%.

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The company has a market cap of $67.12 billion and an enterprise value of $81.39 billion. Through its stores it sells products and services for home repair, decoration and remodeling.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity (ROE) of 48.88% and return on assets (ROA) of 8.48% are outperforming 80% of the companies in the Global Home Improvement Stores industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.11 is below the industry median of 0.99.

Barrow, Hanley, Mewhinney & Strauss is the largest shareholder of the company among the gurus, with 1.82% of outstanding shares followed by Robbins with 0.5% and Pioneer Investments (Trades, Portfolio) with 0.3%.

The investor closed his position in Humana Inc. (HUM). The trade had an impact of -1.12% on the portfolio.

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The company has a market cap of $33.77 billion and an enterprise value of $20.39 billion. It offers insurance products and health care services.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The ROE of 17.13% and ROA of 6.14% are outperforming 59% of the companies in the Global Health Care Plans industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 1.93 is above the industry median of 1.51.

The largest shareholder of the company among the gurus is Jim Simons (Trades, Portfolio) with 2.56% of outstanding shares followed by Jeremy Grantham (Trades, Portfolio) with 0.37% and Vanguard Health Care Fund (Trades, Portfolio) with 0.15%.

The E.I. du Pont de Nemours & Co. (DD) position was closed. The transaction had an impact of -0.94% on the portfolio.

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The science and technology company has a market cap of $72.83 billion and an enterprise value of $80.61 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The ROE of 20.72% and ROA of 5.34% are outperforming 67% of the companies in the Global Agricultural Inputs industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.46 is below the industry median of 0.50.

The guru's holding of Walgreens Boots Alliance Inc. (WBA) was almost closed with a reduction of 97.17% and an impact of -0.86% on the portfolio.

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The company operates retail pharmacy stores in the Unites States. It has a market cap of $71.84 billion and an enterprise value of $82.28 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 13.84% and ROA of 5.71% are outperforming 69% of the companies in the Global Pharmaceutical Retailers industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.26 is below the industry median of 0.51.

The largest shareholder of the company among the gurus is Vanguard Health Care Fund (Trades, Portfolio) with 0.8% of outstanding shares followed by Bill Gates (Trades, Portfolio) with 0.34%, Tom Gayner (Trades, Portfolio) with 0.21% and Simons with 0.12%.

Robbins cut his Cigna Corp. (CI) stake by 17.62%. The trade had an impact of -0.72% on the portfolio.

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The company offers insurance products in the healthcare industry. It has a market cap of $49.8 billion and an enterprise value of $51.32 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. While the ROE of 16.66% is outperforming the sector, ROA of 3.86% is underperforming 59% of the companies in the Global Health Care Plans industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.68 is below the industry median of 1.51.

Dodge & Cox is the largest shareholder of the company among the gurus with 5.28% of outstanding shares followed by Vanguard Health Care Fund (Trades, Portfolio) with 2.53%, Robbins with 1.25%, Barrow, Hanley, Mewhinney & Strauss with 0.8% and Richard Pzena (Trades, Portfolio) with 0.55%.

FMC Corp. (FMC)’s stake was reduced by 9.78%, impacting the portfolio by -0.6%.

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The diversified chemical company has a market cap of $12.68 billion and an enterprise value of $14.31 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 1.03% and ROA of 0.35% are underperforming 80% of the companies in the Global Chemicals industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.06 is below the industry median of 0.83.

The largest shareholder of the company among the gurus is Robbins with 8.73% of outstanding shares followed by Daniel Loeb (Trades, Portfolio) with 1.64%, Steven Cohen (Trades, Portfolio) with 0.38% and Barrow, Hanley, Mewhinney & Strauss with 0.25%.

The Realogy Holdings Corp. (RLGY)’s position was reduced by 38.16%. The trade had an impact of -0.51% on the portfolio.

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The company offers Real Estate services in the U.S. It has a market cap of $3.56 billion and an enterprise value of $6.92 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The ROE of 9.56% and ROA of 3.14% are outperforming 56% of the companies in the Global Real Estate Services industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.09 is below the industry median of 0.35.

John Paulson (Trades, Portfolio) is another notable shareholder of the company among the gurus with 0.74% of outstanding shares followed by Pioneer Investments (Trades, Portfolio) with 0.66%, Chuck Royce (Trades, Portfolio) with 0.13% and Paul Tudor Jones (Trades, Portfolio) with 0.04%.

Robbins also reduced his holding of Visa Inc Class A (V) by 23.59%, impacting the portfolio by -0.38%.

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The company that operates in the credit services industry has a market cap of $252.86 billion and an enterprise value of $263.31 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The ROE of 20.92% and ROA of 10.38% are outperforming 85% of the companies in the Global Credit Services industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.73 is below the industry median of 2.52.

The largest shareholder of the company among the gurus is Frank Sands (Trades, Portfolio) with 0.97% of outstanding shares followed by Ken Fisher (Trades, Portfolio) with 0.7% and Warren Buffett (Trades, Portfolio) with 0.46%.

The AbbVie Inc. (ABBV)’s position was reduced by 12.58%, impacting the portfolio by -0.36%.

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The biopharmaceutical company has a market cap of $151.15 billion and an enterprise value of $179.39 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 114.74% and ROA of 9.95% are outperforming 77% of the companies in the Global Drug Manufacturers - Major industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.25 is below the industry median of 2.89.

Simons is another notable shareholder of the company among the gurus with 0.09% of outstanding shares followed by Fisher with 0.04%, Joel Greenblatt (Trades, Portfolio) with 0.02%, Manning & Napier Advisors, Inc with 0.02% and Robert Bruce (Trades, Portfolio) with 0.01%.

Disclosure: I do not own any shares of any stocks mentioned in this article.