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Here’s Why Medivation Inc (MDVN) Is in Spotlight Today

Amoong the funds tracked by Insider Monkey, Scopia Capital, managed by Matt Sirovich and Jeremy Mindich, created the largest position in Medivation Inc (NASDAQ:MDVN). Zach Schreiber’s Point State Capital also made a $95.1 million investment in the stock during the quarter. The other funds with new positions in the stock are Mitchell Blutt’s Consonance Capital Management, Stephen DuBois’s Camber Capital Management, and Andreas Halvorsen’s Viking Global.

Let’s now take a look at hedge fund activity in other stocks similar to Medivation Inc (NASDAQ:MDVN). These stocks are Marathon Oil Corporation (NYSE:MRO), NiSource Inc. (NYSE:NI), Vipshop Holdings Ltd – ADR (NYSE:VIPS), and Centene Corp (NYSE:CNC). This group of stocks’ market caps resemble MDVN’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MRO 33 641944 6
NI 26 352539 4
VIPS 42 879005 8
CNC 47 721953 20

As you can see these stocks had an average of 37 hedge funds with bullish positions and the average amount invested in these stocks was $649 million. That figure was $1.56 billion in MDVN’s case. Centene Corp (NYSE:CNC) is the most popular stock in this table. On the other hand NiSource Inc. (NYSE:NI) is the least popular one with only 26 bullish hedge fund positions. Compared to these stocks Medivation Inc (NASDAQ:MDVN) 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

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