Do Hedge Funds Love Opko Health Inc. (OPK)?

With a general bullishness amongst the heavyweights, specific money managers have been driving this bullishness. Renaissance Technologies established the most valuable position in Opko Health Inc. (NYSE:OPK). Ken Griffin’s Citadel Investment Group also made a $3.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Michael Platt and William Reeves’ BlueCrest Capital Mgmt., Israel Englander’s Millennium Management, and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Opko Health Inc. (NYSE:OPK) but similarly valued. We will take a look at Axis Capital Holdings Limited (NYSE:AXS), TIM Participacoes SA (ADR) (NYSE:TSU), Qiagen NV (NASDAQ:QGEN), and H&R Block, Inc. (NYSE:HRB). All of these stocks’ market caps match OPK’s market cap.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $316 million. That figure was $56 million in OPK’s case. Qiagen NV (NASDAQ:QGEN) is the most popular stock in this table. On the other hand Axis Capital Holdings Limited (NYSE:AXS) is the least popular one with only 13 bullish hedge fund positions. Opko Health Inc. (NYSE:OPK) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard QGEN might be a better candidate to consider taking a long position in.

Disclosure: None