PRHSX – Fund Analysis – T. Rowe Price Health Sciences | Morningstar

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Will PRHSX outperform in the future?

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Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PRHSX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar

The People Pillar is our evaluation of the PRHSX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar

The Parent Pillar is our rating of PRHSX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A leadership change tests a proven process.

Associate Analyst Natalia Arrigoni

Natalia Arrigoni

Associate Analyst

Summary

An impending lead-manager change creates uncertainty for this otherwise strong healthcare strategy, prompting a downgrade of the People Pillar to Average from Above Average. Longtime lead manager Ziad Bakri announced in December 2025 that he will leave T. Rowe Price in July 2026 after a decade at the helm. His departure is certainly a loss, but incoming lead manager Jeff Holford knows the process well and plans to stick with it, supporting the decision to maintain an Above Average Process rating.

by Natalia Arrigoni

Rated on Apr 27, 2026 Published on Apr 27, 2026

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