Hedge Funds Are Betting On The Medicines Company (MDCO)

Now, some big names were breaking ground themselves. Partner Fund Management initiated the largest call position in The Medicines Company (NASDAQ:MDCO). Partner Fund Management had $11.1 million invested in the position at the end of the quarter. Michael Castor’s Sio Capital also made a $6.8 million investment in the stock during the quarter. The following funds were also among the new MDCO investors: Brad Farber’s Atika Capital, Ken Griffin’s Citadel Investment Group, and Vishal Saluja and Pham Quang’s Endurant Capital Management.

Let’s now take a look at hedge fund activity in other stocks similar to The Medicines Company (NASDAQ:MDCO). These stocks are SolarCity Corp (NASDAQ:SCTY), Owens & Minor, Inc. (NYSE:OMI), Fulton Financial Corp (NASDAQ:FULT), and Kite Realty Group Trust (NYSE:KRG). This group of stocks’ market values are closest to MDCO’s market value.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $70 million. That figure was $585 million in MDCO’s case. SolarCity Corp (NASDAQ:SCTY) is the most popular stock in this table. On the other hand Kite Realty Group Trust (NYSE:KRG) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks The Medicines Company (NASDAQ:MDCO) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None