Hedge Funds Are Buying Sirona Dental Systems, Inc. (NASDAQ:SIRO)

Is Sirona Dental Systems, Inc. (NASDAQ:SIRO) a buy, sell, or hold? Prominent investors are taking a bullish view. The number of bullish hedge fund positions improved by 1 recently.

According to most stock holders, hedge funds are seen as underperforming, old investment tools of years past. While there are greater than 8000 funds trading at the moment, we look at the upper echelon of this club, around 450 funds. It is estimated that this group controls the majority of all hedge funds’ total capital, and by monitoring their top investments, we have identified a number of investment strategies that have historically outstripped the broader indices. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points annually for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have topped the S&P 500 index by 25 percentage points in 6.5 month (check out a sample of our picks).

Sirona Dental Systems, Inc. (NASDAQ:SIRO)

Equally as key, positive insider trading sentiment is a second way to break down the financial markets. Just as you’d expect, there are a variety of motivations for an insider to downsize shares of his or her company, but just one, very obvious reason why they would buy. Many empirical studies have demonstrated the useful potential of this method if you know where to look (learn more here).

Now, let’s take a peek at the recent action surrounding Sirona Dental Systems, Inc. (NASDAQ:SIRO).

How are hedge funds trading Sirona Dental Systems, Inc. (NASDAQ:SIRO)?

At year’s end, a total of 23 of the hedge funds we track held long positions in this stock, a change of 5% from one quarter earlier. With hedge funds’ capital changing hands, there exists an “upper tier” of key hedge fund managers who were upping their stakes considerably.

Of the funds we track, Eminence Capital, managed by Ricky Sandler, holds the largest position in Sirona Dental Systems, Inc. (NASDAQ:SIRO). Eminence Capital has a $95 million position in the stock, comprising 2.8% of its 13F portfolio. Sitting at the No. 2 spot is Christopher Medlock James of Partner Fund Management, with a $48 million position; 0% of its 13F portfolio is allocated to the stock. Other peers that are bullish include David Stemerman’s Conatus Capital Management, Donald Chiboucis’s Columbus Circle Investors and Ken Griffin’s Citadel Investment Group.

As one would reasonably expect, some big names have been driving this bullishness. Renaissance Technologies, managed by Jim Simons, established the most valuable position in Sirona Dental Systems, Inc. (NASDAQ:SIRO). Renaissance Technologies had 7 million invested in the company at the end of the quarter. Drew Cupps’s Cupps Capital Management also initiated a $3 million position during the quarter. The following funds were also among the new SIRO investors: Neil Chriss’s Hutchin Hill Capital, Cliff Asness’s AQR Capital Management, and Glenn Russell Dubin’s Highbridge Capital Management.

How have insiders been trading Sirona Dental Systems, Inc. (NASDAQ:SIRO)?

Insider buying is at its handiest when the company in question has seen transactions within the past six months. Over the latest six-month time period, Sirona Dental Systems, Inc. (NASDAQ:SIRO) has experienced zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).

With the results exhibited by our research, everyday investors should always pay attention to hedge fund and insider trading activity, and Sirona Dental Systems, Inc. (NASDAQ:SIRO) is no exception.

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Insider Monkey’s small-cap strategy returned 29.2% between September 2012 and February 2013 versus 8.7% for the S&P 500 index. Try it now by clicking the link above.

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