Three of the healthcare equities that billionaire money manager Jeffrey Talpins has been selling in 2022 are Moderna, Inc., Thermo Fisher Scientific Inc., and Danaher Corporation. Jeffrey Talpins invested $250 million in the establishment of Element Capital Management in 2005. With the management of over $48 billion in assets, it has now expanded to become a dominant force in the sector. The New York-based hedge fund’s founder and chief investment officer is Talpins. Since 2008, Element Capital has been included in Barron’s Top 100 Hedge Funds. The fund outperformed the overall hedge fund sector during that time with annualized returns of an astounding 21%. Even while other macro trading hedge funds outperformed Element Capital in 2021, it still had a bad year, losing 9%. Element Asset Management has reduced its assets from $1.55 billion in the previous quarter to $200 million. During the first quarter, Talpins sold off 36 of his fund’s previous holdings, drastically cut his stake in all but one of his other positions, and added 125 new assets to Element’s portfolio.
Insider Monkey looks at ten healthcare stocks that Talpins fled from. In Q1, hedge funds started to pull away from Convey Health Solutions Holdings Inc. TPG Capital is buying the company outright for $10.50 per share. Following the announcement of the transaction, shares of CNVY increased by almost 135 percent. The hedge fund run by Jeffrey Talpins liquidated 98 percent of its previous investment in Pfizer Inc. Pfizer and Enanta Pharmaceuticals Inc., who just received a patent for their protease inhibitor COVID medication, are involved in a legal dispute. In the fourth quarter, Element Capital purchased 635,767 shares of Johnson & Johnson. JNJ’s first-quarter sales increased by 5% year over year to $23.43 billion. During the fourth quarter, Element Capital also acquired a sizeable investment in Eli Lilly and Company, which it swiftly sold off for $99 per share in the first three months of 2022. Since peaking in 2021, the percentage of LLY owned by hedge funds has decreased by 20%. In the first quarter after increasing its ownership in the company by a new quarter, Element Capital sold assets from its 13F portfolio. The revenue of Quest Diagnostics Incorporated is also declining, falling by 4% on a yearly basis to $2.61 billion. For more details, click Billionaire Jeffrey Talpins Just Fled From These 10 Healthcare Stocks.
