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|
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.