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Is Integra Lifesciences Holdings Corp (IART) A Good Stock To Buy?

Seeing as Integra Lifesciences Holdings Corp (NASDAQ:IART) has witnessed a declination in interest from the entirety of the hedge funds we track, logic holds that there exists a select few fund managers that decided to sell off their entire stakes in the third quarter. Interestingly, Arthur B Cohen and Joseph Healey’s Healthcor Management LP cut the biggest investment of all the hedgies followed by Insider Monkey, valued at close to $26 million in stock. Christian Leone’s fund, Luxor Capital Group, also cut its stock, about $18.2 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest dropped by 3 funds in the third quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Integra Lifesciences Holdings Corp (NASDAQ:IART) but similarly valued. These stocks are AVX Corporation (NYSE:AVX), Chico’s FAS, Inc. (NYSE:CHS), SM Energy Co. (NYSE:SM), and Asbury Automotive Group, Inc. (NYSE:ABG). This group of stocks’ market values are closest to IART’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AVX 11 197975 -2
CHS 23 398590 4
SM 22 229140 0
ABG 27 808240 6

As you can see these stocks had an average of 20.75 hedge funds with bullish positions and the average amount invested in these stocks was $408 million. That figure was $135 million in IART’s case. Asbury Automotive Group, Inc. (NYSE:ABG) is the most popular stock in this table. On the other hand AVX Corporation (NYSE:AVX) is the least popular one with only 11 bullish hedge fund positions. Integra Lifesciences Holdings Corp (NASDAQ:IART) 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 ABG might be a better candidate to consider a long position.

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