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Envision Healthcare Holdings Inc (EVHC): Are Hedge Funds Right About This Stock?

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The Insider Monkey team has completed processing the quarterly 13F filings for the September quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors endured a torrid quarter, which certainly propelled them to adjust their equity holdings so as to maintain the desired risk profile. As a result, the relevancy of these public filings and their content is indisputable, as they may reveal numerous high-potential stocks. The following article will discuss the smart money sentiment towards Envision Healthcare Holdings Inc (NYSE:EVHC).

Envision Healthcare Holdings Inc (NYSE:EVHC) investors should pay attention to an increase in activity from the world’s largest hedge funds of late. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Harman International Industries Inc./DE/ (NYSE:HAR), IDEXX Laboratories, Inc. (NASDAQ:IDXX), and KT Corporation (ADR) (NYSE:KT) to gather more data points.

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In the eyes of most traders, hedge funds are seen as unimportant, old financial tools of yesteryear. While there are greater than 8000 funds in operation today, Our researchers look at the moguls of this group, about 700 funds. These investment experts direct bulk of the hedge fund industry’s total asset base, and by observing their highest performing equity investments, Insider Monkey has revealed many investment strategies that have historically beaten Mr. Market. Insider Monkey’s small-cap hedge fund strategy defeated the S&P 500 index by 12 percentage points annually for a decade in their back tests.

With all of this in mind, we’re going to view the latest action surrounding Envision Healthcare Holdings Inc (NYSE:EVHC).

How have hedgies been trading Envision Healthcare Holdings Inc (NYSE:EVHC)?

At the end of the third quarter, a total of 32 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 10% from the second quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their holdings substantially (or already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Viking Global, managed by Andreas Halvorsen, holds the largest position in Envision Healthcare Holdings Inc (NYSE:EVHC). Viking Global has a $362.6 million position in the stock, comprising 1.4% of its 13F portfolio. The second largest stake is held by Hitchwood Capital Management, managed by James Crichton, which holds a $165.6 million position; the fund has 5.8% of its 13F portfolio invested in the stock. Some other hedge funds and institutional investors that hold long positions comprise David Gallo’s Valinor Management LLC, Robert Pohly’s Samlyn Capital and Alan Fournier’s Pennant Capital Management.

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