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Insider Trading: HealthCor Management Bought More $EHTH

Arthur B Cohen And Joseph Healey’s HealthCor Management revealed on October 31st that the firm made three insider purchases in eHealth, Inc. (EHTH) after the second quarter. The Form 4 file shows that HealthCor Management added 100 thousand shares into its EHTH position over a 3-month period and now has 2.35 million shares. In detail, the firm bought 40 thousand shares on July 29th at $12.93, 10 thousand shares on September 30th at $13.92, and 50 thousand shares on October 26th at $13.91. EHTH has gained 4% year to date, and is now trading at $14.58.

Arthur B Cohen and Joseph Healey

In the second quarter, six hedge funds were bullish about EHTH. After HealthCor Management, Chuck Royce’s Royce & Associates had 1.3 million shares in the stock. David E. Shaw’s D E Shaw had 319 thousand shares, and Ken Griffin’s Citadel Investment Group had 19 thousand shares.

HealthCor Management is a $3 billion healthcare hedge fund founded by Arthur Cohen and Joseph Healey. Cohen graduated from the University of Virginia in 1983 with a B.A. degree in Commerce and received his M.B.A. in Banking and Finance from Hofstra University in 1986. He worked for Julian Robertson between 1995 and 2000. He was responsible for healthcare investments as a Managing Director at Tiger Management. He partnered with Joseph P. Healey in September 2005. The duo worked at Steven Cohen’s SAC until 2005. (See the full entry)

eHealth, Inc. is an Internet-based insurance agency services company. Per Yahoo! Finance, the company operates online platform to organize and present health insurance information in various formats, as well as enables individuals, families and small businesses to research, analyze, compare and purchase health insurance products. The company offers various medical health insurance coverage plans, and ancillary plans. The company was founded in 1997 and is based in Mountain View, California.

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