Do Hedge Funds Love Baxalta Inc (BXLT)?

With a general bullishness amongst the heavyweights, some big names were leading the bulls’ herd. The other funds with brand new Baxalta Inc (NYSE:BXLT) positions are Point State Capital, GLG Partners, and Phill Gross and Robert Atchinson’s Adage Capital Management.

Let’s check out hedge fund activity in other stocks similar to Baxalta Inc (NYSE:BXLT). These stocks are Public Service Enterprise Group Inc. (NYSE:PEG), Ryanair Holdings plc (ADR) (NASDAQ:RYAAY), Southern Copper Corp (NYSE:SCCO), and Canadian Natural Resource Ltd (USA) (NYSE:CNQ). This group of stocks’ market valuations is similar to Baxalta Inc (NYSE:BXLT)’s market valuation.

As you can see, these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $508 million. That figure was $717 million in Baxalta Inc (NYSE:BXLT)’s case. Canadian Natural Resource Ltd (USA) (NYSE:CNQ) is the most popular stock in this table. On the other hand, Southern Copper Corp (NYSE:SCCO) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks, Baxalta Inc (NYSE:BXLT) 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.