Hedge Funds Are Crazy About Henry Schein, Inc. (HSIC)

As aggregate interest increased, some big names have jumped into Henry Schein, Inc. (NASDAQ:HSIC) headfirst. Alyeska Investment Group, managed by Anand Parekh, created the most outsized position in Henry Schein, Inc. (NASDAQ:HSIC), worth some $54.1 million at the end of the quarter. Jim Simons’s Renaissance Technologies also initiated a $12.5 million position during the quarter. The following funds were also among the new HSIC investors: Jacob Gottlieb’s Visium Asset Management, John Overdeck and David Siegel’s Two Sigma Advisors, and Ray Dalio’s Bridgewater Associates.

Let’s go over hedge fund activity in other stocks similar to Henry Schein, Inc. (NASDAQ:HSIC). We will take a look at Hologic, Inc. (NASDAQ:HOLX), Mosaic Co (NYSE:MOS), Church & Dwight Co., Inc. (NYSE:CHD), and XL Group plc (NYSE:XL). This group of stocks’ market values match HSIC’s market value.

As you can see these stocks had an average of 33 hedge funds with bullish positions and the average amount invested in these stocks was $937 million. That figure was a meager $388 million in HSIC’s case. Mosaic Co (NYSE:MOS) is the most popular stock in this table, whereas Church & Dwight Co., Inc. (NYSE:CHD) is the least popular one with only 18 bullish hedge fund positions. Henry Schein, Inc. (NASDAQ:HSIC) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard HOLX might be a better candidate to consider a long position.