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Healthcare-Focused Michael Castor Added These Stocks to His Portfolio Last Quarter

Hill-Rom Holdings, Inc. (NYSE:HRC)

– Shares held by Sio Capital (as of June 30): 83,600

– Value of Sio Capital’s stake (as of June 30): $4.22 million

Hill-Rom Holdings, Inc. (NYSE:HRC) is another major bet undertaken by Sio Capital in the previous quarter. The smart money investors from our database held a positive outlook for the medical technology company, as the number of funds long the stock went to 31 from 28 during the second quarter. Healthcor Management LP, lead by Arthur B Cohen and Joseph Healey, was among the top funds to initiate a new position in Hill-Rom Holdings, Inc. (NYSE:HRC) as it held 815,603 shares at the end of June. The medical technology firm announced its results for the fiscal third quarter (ended June 30) on August 4, reporting a 39% year-over-year growth in its worldwide revenue to $655 million, while its adjusted EPS increased by 31% on the year to $0.81.

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Medtronic PLC (NYSE:MDT)

– Shares held by Sio Capital (as of June 30): 75,000

– Value of Sio Capital’s stake (as of June 30): $6.51 million

Medtronic PLC (NYSE:MDT) was the second largest healthcare position added to Sio Capital’s equity portfolio in the second quarter. Dmitry Balyasny’s Balyasny Asset Management was another fund in our database to initiate a long position in the medical technology company, owning 797,149 shares worth $69.17 million at the end of June. In August, Medtronic PLC (NYSE:MDT) announced the financial results for its fiscal 2017 first quarter, which ended on July 29. Its net revenue stood at $7.2 billion, 1% lower than the prior-year quarter, whereas its GAAP EPS rose by 16% over the year to $0.66.

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Biogen Inc (NASDAQ:BIIB)

– Shares held by Sio Capital (as of June 30): 61,000

– Value of Sio Capital’s stake (as of June 30): $14.75 million

Biogen Inc (NASDAQ:BIIB) topped the list of new healthcare positions initiated by Sio Capital in the previous quarter, representing 7.54% of the overall portfolio value as of June 30. Among the hedge funds that we track at Insider Monkey, Healthcor Management LP topped the list of funds introducing a new stake in the company, with a stake worth $114.87 million containing 475,000 shares. Earlier this month, the FDA granted fast track designation to Biogen Inc (NASDAQ:BIIB)’s Alzheimer treatment, Aducanumab.

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Disclosure: none

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