Bridger Management’s Top Picks

As of June 30, Bridger Management owns 649,903 shares of Laboratory Corp. of America Holdings (NYSE:LH) valued at $78.78 million.  This $12.47 billion company is an independent clinical laboratory in the United States. Thus far in 2015 it has returned 16.25%, partially due to better than expected EPS of $2.09 for the second quarter, beating estimates by $0.06, on revenue of $2.22 billion, in line with analysts’ estimates. On August 3, market experts from Canaccord Genuity confirmed their target price for the company at $145, while maintaining their ‘Buy’ rating. The firm’s price target suggests about 16% upside for the stock. Among the other funds that we track, Jacob Gottlieb’s Visium Asset Management held 3.37 million shares of Laboratory Corp. of America Holdings (NYSE:LH), valued at $24.46 million.

Bridger Management acquired some 2,787 shares of Alnylam Pharmaceuticals Inc (NASDAQ:ALNY) during the second quarter. The fund’s total stake in the $9.9 billion market cap company now stands at 623,880 shares with a market value of $74.78 million. Over the last five years the company has failed to post a profit, with its most recent net income margin approaching negative 800%. Some analysts believe that the top medicines from Alnylam Pharmaceuticals Inc (NASDAQ:ALNY)’s product portfolio are still at least three years away from a potential launch. One of the many reasons that keeps this particular company, and many others in the industry as well, in the billion-dollar-plus valuation range is investors’ enthusiasm for their growth potential. Only time will tell whether Alnylam Pharmaceuticals was ever deserving of such an honor. David E. Shaw’s D E Shaw held 204,027 shares of Alnylam Pharmaceuticals Inc (NASDAQ:ALNY) valued at $24,46 million on June 30. During the second quarter the fund increased its stake in the company by some 24%.

Disclosure: None