Billionaire John Paulson’s Most Bullish Q3 Moves: Biogen (BIIB), eBay Inc. (EBAY) & More

Billionaire John Paulson‘s Paulson & Company is an alternative investment management company. It was founded in 1994 and is based out of New York. The investment company follows event driven strategy for managing its portfolio. Its goal is to offer above average return over the long run while keeping low correlation with the market.

Paulson & Company holds a diversified equity portfolio that is worth $9.23 billion as of the end of September with pronounced leaning towards Health care stocks, which account for 59% of the value. During the September quarter, Paulson & Company retained a bullish stance and among its prominent purchases during the quarter were Hewlett Packard Enterprise Co (NYSE:HPE), Biogen Inc. (NASDAQ:BIIB), Steris Plc Ordinary Shares (NYSE:STE), and eBay Inc. (NASDAQ:EBAY).

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Hewlett Packard Enterprise Co (NYSE:HPE)’s stock has gained 54% so far this year. Meanwhile Paulson & Co. initiated a stake in the company during the third quarter, amassing 5.96 million shares worth $135.66 million at the end of September. Of the hedge funds in our database, 63 funds held $2.72 billion worth of Hewlett Packard Enterprise shares in aggregate at the end of June. The company is scheduled to release its fiscal fourth quarter results tomorrow and analysts expect EPS of $0.61 on revenue of $12.85 billion.

In Biogen Inc. (NASDAQ:BIIB), the investor boosted its holding by 150% to 308,000 shares worth $96.41 million during the third quarter. The position was increased as Biogen’s stock advanced by over 29% between July and September, although it’s just 4.2% in the green year-to-date. Among the funds we track, 73 funds amassed $4.04 billion worth of Biogen’s stock in aggregate at the end of the second quarter. The company recently has announced that its SPINRAZA^TM medication test that children receiving SPINRAZA experienced a highly statistically significant improvement in motor function compared to those who did not receive treatment.

As, Steris Plc Ordinary Shares (NYSE:STE)’s stock advanced by 6.8% during the third quarter, Paulson & Co. initiated a stake in the company and held 311,800 shares worth $22.79 million at the end of September. At the end of June, 30 funds from our database had positions in Steris worth $647 million, accounting for around 10.90% of the company’s outstanding stock. Steris reported fiscal second-quarter earnings at $0.89 per share, lagging behind street expectation of $0.90 per share, while its revenue of $646.42 million, up by 32% on the year, was $23.8 million lower than the consensus estimate. Another fund that added Steris Plc Ordinary Shares (NYSE:STE) during the third quarter, is Cliff Asness’ AQR Capital Management, which held 189,843 shares at the end of September.

eBay Inc. (NASDAQ:EBAY) is another company that captured Paulson’s attention last quarter. The fund initiated a stake between July and September, having added 628,100 shares worth $20.66 million, according to its latest 13F. Other investors that are bullish on the company include Stephen Mandel’s Lone Pine Capital and AQR Capital Management, both of which also initiated stakes containing 33.16 million shares and 11.13 million shares, respectively, during the third quarter. eBay Inc. (NASDAQ:EBAY) recently has introduced a smart personal shopping assistant ‘Shopbot’. The bot is in beta mode and being tested through Facebook messenger. The assistant will help buyers in locating appropriate products by taking their taste and budget into consideration.

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