In this article, we take a look at the 5 healthcare and software stocks to buy according to Michel Massoud’s Melqart Asset Management. If you are interested in reading about Melqart Asset Management’s history, investment philosophy, and hedge fund preference, head over to the 10 Healthcare and Software Stocks to Buy According to Michel Massoud’s Melqart Asset Management.
5. Talend S.A. (NASDAQ:TLND)
Melqart Asset Management’s Stake Value: $61.024 million
Percentage of Melqart Asset Management’s 13F Portfolio: 2.74%
Number of Hedge Fund Holders: 36
Talend S.A. (NASDAQ: TLND) provides software solutions for big data, data management, application integration, and data quality to businesses.
As of the end of the second quarter of 2021, Melqart Asset Management owns 930,247 shares in the company which amounts to over $61 million. Out of the 873 hedge funds that are on Insider Monkey’s database, 36 held stakes in Talend S.A. (NASDAQ: TLND) by the end of Q2 2021. This is as compared to 45 hedge funds that held stakes in the company at the end of Q1 2021.
4. Proofpoint Inc (NASDAQ:PFPT)
Melqart Asset Management’s Stake Value: $61.410 million
Percentage of Melqart Asset Management’s 13F Portfolio: 2.75%
Number of Hedge Fund Holders: 48
Founded in 2002 and headquartered in Sunnyvale, California, Proofpoint Inc (NASDAQ: PFPT) is a software company that specializes in mobile devices, digital risk, email encryption, outbound data loss prevention, and inbound email security. Of the 873 hedge funds that are on Insider Monkey’s database, 48 held stakes in Proofpoint Inc (NASDAQ: PFPT) by the end of Q2 2021, with a total value of over $2.5 billion. This is as compared to 22 hedge funds that held stakes in the company at the end of Q1 2021 which had a combined value of $455 million.
3. Nuance Communications Inc. (NASDAQ:NUAN)
Melqart Asset Management’s Stake Value: $114.372 million
Percentage of Melqart Asset Management’s 13F Portfolio: 5.13%
Number of Hedge Fund Holders: 72
Nuance Communications Inc. (NASDAQ: NUAN) is a multinational computer software technology corporation that is famous for its clinical speech recognition and artificial intelligence software, both of which are used widely by hospitals throughout the United States. The company is headquartered in Burlington, Massachusetts, and was founded in 2018.
Artisan Partners, a high value-added investment management firm, published its ‘Artisan Mid Cap Fund’ second quarter 2021 investor letter in which it mentioned Nuance Communications Inc. (NASDAQ: NUAN). Here is what the letter said about Nuance Communications Inc. (NASDAQ: NUAN) in its Q2 2021 investor letter:
“We ended our campaign in Nuance Communications. Nuance Communications is a leader in automated voice transcription technologies enabling physicians to document patient encounters more efficiently, accurately and consistently. We believe the company’s DAX product is in the very early stages of its launch with a meaningful profit cycle opportunity ahead. However, the company announced early in Q2 it was being acquired by Microsoft. Thus, we harvested our GardenSM position.”
2. Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN)
Melqart Asset Management’s Stake Value: $162.654 million
Percentage of Melqart Asset Management’s 13F Portfolio: 7.3%
Number of Hedge Fund Holders: 69
Founded in 2017 and headquartered in Boston, Massachusetts, Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) deals with treatments for rare diseases. By the end of the second quarter of 2021, Melqart Asset Management owned 885,384 shares of Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) worth over $162 million, which comprised 7.3% of the fund’s portfolio.
On July 21, AstraZeneca plc (NYSE:AZN) announced its acquisition of Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) for $13.3 billion.
ClearBridge Investments, an investment management firm, mentioned Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) in its “Large Cap Growth Strategy” first quarter 2021 investor letter and shared its insights on the company. Here is what the fund said about Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) in its Q1 2021 investor letter:
“We also sold biotechnology holding Alexion Pharmaceuticals ahead of its acquisition by AstraZeneca but expect to redouble our efforts in health care through the rest of the year. We see good growth potential in the sector and after full due diligence, have been busy populating our wish list with new names we would like to own.”
1. Slack Technologies Inc (NYSE:WORK)
Melqart Asset Management’s Stake Value: $170.620 million
Percentage of Melqart Asset Management’s 13F Portfolio: 7.66%
Number of Hedge Fund Holders: 61
Melqart Asset Management owns over 3 million shares in Slack Technologies Inc (NYSE: WORK). The investment covers 7.66% of the fund’s portfolio which amounts to a worth of over $114 million. During Q2 2021, Melqart Asset Management increased its stake in the company by 33%. At the end of the second quarter, there were 61 hedge funds in Insider Monkey’s database that held stakes in Slack Technologies Inc (NYSE: WORK) with a combined worth of over $5 billion.
In contrast, 60 hedge funds at the end of the first quarter held shares of Slack Technologies Inc (NYSE: WORK) that were roughly worth $4.26 billion in total.
You can also take a peek at the 15 Dividend Stocks People Buy for Early Retirement and 10 Best Tech ETFs to Buy According to Reddit.
