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Allergan, Inc. (AGN) Receives Good News from Japan

Key money managers were leading the bulls’ herd into Allergan during the first quarter. Lone Pine Capital, managed by Stephen Mandel, created the most valuable position in Allergan, Inc. (NYSE:AGN). Lone Pine Capital had $479.6 million invested in the company at the end of the quarter. Seth Klarman’s Baupost Group also initiated a $461.4 million position during the quarter. The other funds with new positions in the stock are Alec Litowitz and Ross Laser’s Magnetar Capital, Elliott Management, and Rob Citrone’s Discovery Capital Management.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Allergan, Inc. (NYSE:AGN) but similarly valued. We will take a look at Sanofi SA (ADR) (NYSE:SNY), Mastercard Inc (NYSE:MA), NIKE, Inc. (NYSE:NKE), and BP plc (ADR) (NYSE:BP). This group of stocks’ market valuations are similar to AGN’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SNY 30 813530 -1
MA 80 6217221 0
NKE 64 3648837 1
BP 34 685461 2

As you can see these stocks had an average of 52 hedge funds with bullish positions and the average amount invested in these stocks was $2.84 billion. That figure was $20.11 billion in AGN’s case. Mastercard Inc (NYSE:MA) is the most popular stock in this table. On the other hand Sanofi SA (ADR) (NYSE:SNY) is the least popular one with only 30 bullish hedge fund positions. Compared to these stocks Allergan, Inc. (NYSE:AGN) is far 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.

Disclosure: None

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