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Is WebMD Health Corp. (WBMD) A Good Stock To Buy?

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A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended September 30, so let’s proceed with the discussion of the hedge fund sentiment on WebMD Health Corp. (NASDAQ:WBMD).

Is WebMD Health Corp. (NASDAQ:WBMD) the right investment to pursue these days? Prominent investors are getting more bullish. The number of long hedge fund positions moved up by 2 recently. 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 Cepheid (NASDAQ:CPHD), New Gold Inc. (USA) (NYSEAMEX:NGD), and Visteon Corp (NYSE:VC) to gather more data points.

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At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.

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Hedge fund activity in WebMD Health Corp. (NASDAQ:WBMD)

Heading into the fourth quarter of 2016, a total of 29 of the hedge funds tracked by Insider Monkey were long this stock, an increase of 7% from the second quarter of 2016, and the third-straight quarter with an increase in hedge fund ownership of the stock. With hedge funds’ sentiment swirling, there exists a select group of notable hedge fund managers who were increasing their holdings substantially (or already accumulated large positions).

HedgeFundSentimentChart

According to Insider Monkey’s hedge fund database, Michael Lowenstein’s Kensico Capital has the number one position in WebMD Health Corp. (NASDAQ:WBMD), worth close to $253.7 million, accounting for 4.6% of its total 13F portfolio. Sitting at the No. 2 spot is Shannon River Fund Management, managed by Spencer M. Waxman, which holds a $31.1 million position; 8.7% of its 13F portfolio is allocated to the stock. Some other peers with similar optimism contain Israel Englander’s Millennium Management, Lei Zhang’s Hillhouse Capital Management, and David E. Shaw’s D E Shaw.

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