“Index Effects” Do Not Disappoint Its Believers; This is What Hedge Funds Have to Say about S&P 500’s New Addition

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Finally, we will discuss the recent deal between Thoratec Corporation (NASDAQ:THOR) and St. Jude Medical Inc. (NYSE:STJ), which stands behind the latest developments. St. Jude’s move represents an attempt to tackle and step over its sluggish revenue growth. Thoratec is a leading manufacturer of medical devices that are used for mechanical circulatory support for the treatment of heart failure patients, so St. Jude intends to penetrate a very promising market considering that roughly 6 million people in the U.S. suffer from heart failure. Meanwhile, David Stemerman’s Conatus Capital Management represents one of the largest shareholders in St. Jude Medical Inc. (NYSE:STJ) among the hedge funds observed by the Insider Monkey team, holding 1.38 million shares.

Disclosure: None

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