Hedge Funds Are Betting On Alere Inc (ALR)

Now, some big names were breaking ground themselves. Alyeska Investment Group, managed by Anand Parekh, assembled the biggest position in Alere Inc (NYSE:ALR). Alyeska Investment Group had $35.8 million invested in the company at the end of the quarter. Jacob Gottlieb’s Visium Asset Management also made a $33.9 million investment in the stock during the quarter. The following funds were also among the new ALR investors: Brian Ashford-Russell and Tim Woolley’s Polar Capital, Millennium Management Subsidiary’s Decade Capital Management, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

Let’s check out hedge fund activity in other stocks similar to Alere Inc (NYSE:ALR). These stocks are Arista Networks Inc (NYSE:ANET), Columbia Sportswear Company (NASDAQ:COLM), Diamondback Energy Inc (NASDAQ:FANG), and Teradata Corporation (NYSE:TDC). This group of stocks’ market values resemble ALR’s market value.

As you can see these stocks had an average of 25 hedge funds with bullish positions and the average amount invested in these stocks was $471 million. That figure was $1344 million in ALR’s case. Diamondback Energy Inc (NASDAQ:FANG) is the most popular stock in this table. On the other hand Columbia Sportswear Company (NASDAQ:COLM) is the least popular one with only 19 bullish hedge fund positions. In comparison, Alere Inc (NYSE:ALR), with 39 bullish hedge fund positions, is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.