Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Funds Are Betting On Hologic, Inc. (HOLX)

With a general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. PDT Partners, managed by Peter Muller, created the largest position in Hologic, Inc. (NASDAQ:HOLX). PDT Partners had $22.8 million invested in the company at the end of the quarter. Joel Greenblatt’s Gotham Asset Management also initiated an $22 million position during the quarter. The following funds were also among the new HOLX investors: Clifford Fox’s Columbus Circle Investors, Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital, and Steve Cohen’s Point72 Asset Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Hologic, Inc. (NASDAQ:HOLX) but similarly valued. We will take a look at Mosaic Co (NYSE:MOS), Church & Dwight Co., Inc. (NYSE:CHD), XL Group plc (NYSE:XL), and Xilinx, Inc. (NASDAQ:XLNX). This group of stocks’ market caps match HOLX’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MOS 39 505581 -8
CHD 18 294634 -4
XL 37 913532 8
XLNX 23 1200643 -2

As you can see these stocks had an average of 29 hedge funds with bullish positions and the average amount invested in these stocks was $729 million. That figure was $2035 million in HOLX’s case. Mosaic Co (NYSE:MOS) is the most popular stock in this table. On the other hand Church & Dwight Co., Inc. (NYSE:CHD) is the least popular one with only 18 bullish hedge fund positions. In comparison, Hologic, Inc. (NASDAQ:HOLX), with 38 bullish hedge fund positions, is not the most popular stock in this group but still it has attracted attention from investors. Although this may indicate it a good buying opportunity, we’d rather spend our time focusing on stocks that hedge funds are collectively most bullish on, such as MOS, in this particular case, which might represent a better candidate to consider a long position.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...