The healthcare sector is usually very attractive to investors, since the companies involved in it have a great potential to grow. According to Morningstar data, the healthcare sector has a return of 39% year-to-date, being outrun by Consumer Cyclical and Technology sectors, which gained 40.6% and 54.61% respectively. Over this week, hedge funds have made several particularly interesting moves in companies from the healthcare sector. Since we have proven that tracking hedge fund activity can help retail investors to beat the market, we suggest you take a look at the list we have compiled below.
Arthur Cohen and Joseph Healey‘s Healthcor Management, has trimmed its stake in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX), and now it owns 10 million shares, down by 1.0 million since the end of September. Healthcor holds an activist position in the company, which still amasses around 5.6% of its common stock.
Earlier this week, Julian Baker and Felix Baker‘s hedge fund Baker Bros. Advisors upped their stake in Seattle Genetics, Inc. (NASDAQ:SGEN) to a total of 20.9 million, from 20.5 million disclosed last week. Overall, Baker Bros. owns 17.1% of Seattle Genetics’ common stock.
Stephen DuBois‘ Camber Capital reported adding to its position in CONMED Corporation (NASDAQ:CNMD), raising the holding to 5.02% of stock. The stake amasses 1.4 million shares, and has been increased from 1.0 million shares owned by the fund at the end of September.
Orexigen Therapeutics, Inc. (NASDAQ:OREX) has been the target of Christopher Medlock James‘ Partner Fund Management. The fund revealed upping its position to 5.3 million shares, from 3.6 million held earlier. The passive stake amasses 5.2% of the company’s common stock.
The last on our list comes Jim Roumell‘s fund Roumell Asset Management, which in a letter sent to Transcept Pharmaceuticals Inc (NASDAQ:TSPT) disclosed that it salutes the company’s latest efforts. It also stated that Roumell will have a representative on Transcept’s Board. Roumell currently holds almost 2.18 million shares, reducing the position from 2.25 million shares owned at the end of September via several transactions.