Thomas Richard Carper, popularly known as Tom Carper, a Senior U.S. Senator from Delaware, has been trading (buying and selling) some interesting stocks lately. As per Capitol Trades, on October 17, the Democratic party member sold shares of communications services provider Verizon Communications Inc. (NYSE:VZ), media powerhouse The Walt Disney Co. (NYSE:DIS), and chip maker Intel Corp. (NASDAQ:INTC).
At the same time, Carper bought shares of healthcare companies CVS Health (NYSE:CVS) and Abbott Laboratories (NYSE:ABT), as well as shares of famed chip maker Taiwan Semiconductor Manufacturing (NYSE:TSM). Let’s take a look at each of these companies and their recent performances.
CVS Health (NYSE:CVS)
CVS Health runs a pharmacy retail chain named CVS Pharmacy, a pharmacy benefits manager CVS Caremark, and health insurance provider Aetna. On November 2, CVS beat Q3FY22 earnings expectations. Since the date of trade, CVS stock has gained 7.6%.
Is CVS a Buy, Hold, or Sell?
With 13 unanimous Buys, CVS Health stock has a Strong Buy consensus rating. On TipRanks, the average CVS Health price target of $120.85 implies 23.6% upside potential to current levels. Meanwhile, CVS stock has lost 4% so far this year.
Abbott Laboratories (NYSE:ABT)
Abbott Laboratories offers a diverse range of healthcare products. On October 19, after Carper bought ABT shares, Abbott posted solid Q3FY22 results that beat expectations and raised its guidance. However, the results were followed by an unprecedented sell-off in Abbott’s share price. Unfortunately for Carper, since the date of the trade, ABT stock has lost 6.8%.
Is Abbott Labs a Buy, Sell, or Hold?
On TipRanks, Abbott Laboratories stock commands a Strong Buy consensus rating. This is based on ten Buys versus three Hold ratings during the past three months. The average Abbott Laboratories price forecast of $116.08 implies 20.4% upside potential to current levels. Meanwhile, year-to-date, ABT stock has lost 29.5%.
Taiwan Semiconductor Manufacturing (NYSE:TSM)
Taiwan Semi manufactures and sells integrated circuits (ICs) and wafer semiconductor devices. On October 13, TSM posted robust Q3 results, beating both earnings and revenue expectations. Similar to the ABT purchase, TSM stock has lost 7.1% since the date of the stock purchase.
Is TSM a Good Investment?
Wall Street analysts believe TSM to be a good investment. On TipRanks, Taiwan Semi has a Strong Buy consensus rating based on four Buys and one Hold. The average Taiwan Semiconductor stock prediction of $93 implies 54.3% upside potential to current levels. Meanwhile, TSM stock has lost 52.6% so far this year.
Carper’s recent buy views seem to have gone off the radar. Nonetheless, all three companies are just going through short-term rough patches. Should the politician hold on to the stocks for the long term, as analysts have a Strong Buy rating on them, these investments may turn out to be highly profitable for Carper.