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.

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.