Receptos Inc (RCPT), Centene Corp (CNC): Paul Sinclair Flying High With New Fund’s Top Healthcare Picks

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Cooper Companies Inc (NYSE:COO) was another one of Sinclair’s holdings that ticked the return’s needle in the right direction as the company’s stock rose by 15.65% over the first quarter. The fund held some 75,000 shares valued at $12.16 million of the medical devices company. The company operates through two segments, CooperSurgical, which provides solutions relating to women’s healthcare, and CooperVision, focused on vision care. The latter segment recently reported that the demand of its newly launched clariti 1 day silicone hydrogel contact lenses has exceeded the company’s expectations. Stephen Mandel‘s Lone Pine Capital initiated a significant stake in the company during the fourth quarter, containing some 1.75 million shares valued at $283.70 million.

Centene Corp (NYSE:CNC) was the highest gainer in this list as it climbed up by about 36.15% during the first quarter. Blue Jay’s stake in the company amounted to 230,000 shares valued at $11.94 million. The provider of Medicare coverage could be another acquisition target according to an article on Bloomberg, which claims that the increasing enrollment of Americans under Obamacare has made these smaller medicare companies very attractive for the big boys in the insurance industry who do not have enough Medicare and Medicaid exposure. Louis Navellier‘s Navellier Associates massively increased its exposure in Centene Corp (NYSE:CNC) during the fourth quarter to about 368,000 shares valued at $38.22 million.

Biogen Inc (NASDAQ:BIIB) also posted double-digit gains during Q1 as it rose by 24.39%. The stake marks Blue Jay’s bet on two opposing sides in the $17 billion multiple sclerosis market. While Receptos Inc (NASDAQ:RCPT)’s drug is still in the developmental phase, which many expect will remain the case until 2017, Biogen’s Avonex is currently a market leader and added about $3.01 billion to the company’s top line last year. Biogen Inc (NASDAQ:BIIB) is also one of the top picks of Samuel Isaly’s Orbimed Advisors, according to the latest 13F filing.

Mallinckrodt PLC  (NYSE:MNK) also posted a strong performance over the quarter as it appreciated by 27.89%. Blue Jay’s stake in the $14.73 billion pharmaceutical company amounted to 100,000 shares valued at $9.90  million. The company recently entered into a definitive agreement to buy Ikaria for about $2.3 billion.  Jonathan Savitz‘s Greywolf Capital Management was the largest shareholder in Mallinckrodt PLC  (NYSE:MNK) among the funds that we track.

Disclosure: None

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