Here is What Hedge Funds Think About Allscripts Healthcare Solutions Inc (MDRX)

Due to the fact that Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) has experienced unchanged interest from the entirety of the hedge funds we track, we must take a look at a sect of fund managers that slashed their positions entirely in the third quarter. Interestingly, Jean-Marie Eveillard’s First Eagle Investment Management said goodbye to the largest stake of the “upper crust” of funds followed by Insider Monkey, worth close to $60.6 million in stock, and Israel Englander’s Millennium Management was right behind this move, as the fund dropped about $14.2 million worth of MDRX shares. These bearish behaviors are interesting, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) but similarly valued. We will take a look at Lexington Realty Trust (NYSE:LXP), Lexmark International Inc (NYSE:LXK), United Natural Foods, Inc. (NASDAQ:UNFI), and The Medicines Company (NASDAQ:MDCO). This group of stocks’ market caps match that of MDRX.

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $276 million. That figure was $553 million in MDRX’s case. The Medicines Company (NASDAQ:MDCO) is the most popular stock in this table. On the other hand Lexington Realty Trust (NYSE:LXP) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) 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.