Investment

Chart of the Month: US Healthcare sector, an appealing opportunity?

by Sébastien Poiret

US Healthcare sector : an appealing opportunity?

Source: Bloomberg
Source: Bloomberg

The US Healthcare sector is comprised of Pharmaceutical, Biotech, Medical Equipment and Hospital companies.

Due to Hilary Clinton’s Tweet in 3Q15 to restrict pricing policies, this sector has corrected with high volatility. Despite that, earnings continue to grow steadily: +12% annualized growth over the last 3 years and expected to grow on average +10% per year in 2017 and 2018.

This sector now trades at a Price/Earnings Ratio of 14.4 which is 13% cheaper that the S&P500 Index itself (16.5 times), and such with higher earnings growth!

Hilary Clinton is now likely to win the White House but the House is likely to remain on the Republican side. She therefore won’t be in a position to implement some of her feared changes.

If this is the case, less uncertainty will soon be reflected with higher share prices, as long as earnings don’t disappoint!

Large Biotech companies could be of particular interest.

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Antonio Mira
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Antonio Mira joined NS Partners in 2006 as Group Chief Financial Officer. He heads the corporate functions and is involved in coordinating and implementing the decisions of the Executive Committee.
An experienced bank auditor, Antonio started his career in 1995 with Arthur Andersen, where he worked for some 7 years before joining Ernst & Young in 2002 as a Senior Manager.
Antonio is a Swiss chartered accountant and a Business graduate of Lausanne University (HEC).

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Sébastien Poiret joined NS Partners in 2008 and manages funds of hedge funds and private client mandates. He also oversees the development of the Group’s offices in Mauritius.

Prior to joining NS Partners, he served as a Trader, Head of Manager research and Portfolio Manager in the USA and Switzerland for a single hedge fund (1998-2004) and for Optimal (2004-2008), Grupo Santander’s fund-of-hedge funds operations.

Sébastien holds a Bachelor’s degree in Corporate Finance from the ESPEME Business School (EDHEC Group) and an MBA in Finance and Economics from the Institute of Business Administration, both in Nice.

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Abir Oreibi joined the Board of the NS Partners Group in 2018, where she brings her truly international perspective and rich experience.
Among many other ventures, Abir set up Alibaba.com’s first European office. After living and working in Shanghai, Hong Kong, Bangkok and London, she now lives in Geneva, where she is CEO of Lift Events, an organization that identifies technology trends, their business and social impact through the organization of events and open innovation programs. Issues related to the challenges and opportunities created by new technologies as well as the strategic responses from organizations are at the heart of Lift’s activities.
Abir holds a BA in Political Sciences from the University of Geneva. She is an investor, and member of advisory and innovation boards.

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He started his financial career in 2005 as Head of Quantitative Analysis for a Swiss Family Office, selecting funds and managing portfolio allocation. In 2008, he switched to the alternative world and joined Peak Partners as hedge funds analyst.
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