Healthcare Business

UBS Makes August Changes to Equity Focus List Portfolio

Allergan PLC (NYSE: AGN) has been a strong portfolio holding for the Equity Focus list. The company recently made a huge splash when it sold its generics portfolio to Teva for a whopping $40.5 billion. Allergan markets a portfolio of best-in-class products that provide valuable treatments for the central nervous system, eye care, medical aesthetics, gastroenterology, women’s health, urology, cardiovascular and anti-infective therapeutic categories, and it operates the world’s third-largest global generics business. Allergan is an industry leader in research and development, with one of the broadest development pipelines in the pharmaceutical industry and a leading position in the submission of generic product applications globally.

The UBS price target is $365, and the consensus target is $362.59. The stock closed Monday at $334.92.

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Medtronic PLC (NYSE: MDT) is now based in Ireland after the gigantic combination with Covidien, and many on Wall Street see this historical merger, one of the largest in the medtech industry, as a momentous event, leading to the creation of a unique company that combines the extensive and innovative abilities of both Medtronic and Covidien. The combined company, with officially joint forces of over 85,000 employees present in more than 160 countries and annual revenues of $27.4 billion in 2014, will now expedite Medtronic’s three fundamental strategies of therapy innovation, globalization and economic value.

Medtronic investors are paid a 1.95% dividend. The UBS price target is $90, the consensus target is lower at $87.03. Shares closed Monday at $77.98.

Merck & Co. Inc. (NYSE: MRK) remains a leading health care company that is on the focus lists of many of the top firms we cover. Its numerous prescription medicines, vaccines, biologic therapies and consumer care and animal health products are provided to customers in more than 140 countries. Merck is the world’s fourth-biggest drugmaker by revenue and boosted its annual profit forecast after the company beat first-quarter earnings and sales estimates, fueled by higher demand for vaccines and diabetes treatments.

Merck shareholders are paid a solid 3.05% dividend. The UBS price target is $68, and the consensus is posted at $65.47. Shares closed Monday at $59.05.

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The UBS portfolio managers have done an outstanding job of combining growth with relative value. While they are slightly overweight technology, the balance in the portfolio is what has worked well over the years for clients.

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