Should You Invest in St. Jude Medical, Inc. (STJ)?

On the other hand, John Orrico’s Water Island Capital sold off the biggest investment of the 700 funds followed by Insider Monkey, valued at an estimated $55.3 million in stock. Gordy Holterman and Derek Dunn’s fund, Overland Advisors, also dropped its stock, about $38.5 million worth.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as St. Jude Medical, Inc. (NYSE:STJ) but similarly valued. These stocks are Discover Financial Services (NYSE:DFS), Corning Incorporated (NYSE:GLW), Mylan Inc. (NASDAQ:MYL), and Aviva Plc (ADR) (NYSE:AV). This group of stocks’ market valuations resemble STJ’s market valuation.

As you can see these stocks had an average of 30 funds with bullish positions and the average amount invested in these stocks was $789 million. That figure was $3.18 billion in STJ’s case. Mylan Inc. (NASDAQ:MYL) is the most popular stock in this table. On the other hand Aviva Plc (ADR) (NYSE:AV) is the least popular one with only five bullish hedge fund positions. Compared to these stocks St. Jude Medical, Inc. (NYSE:STJ) 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.