Is Opko Health Inc. (OPK) A Good Stock To Buy?

Seeing as Opko Health Inc. (NYSE:OPK) has experienced a declining sentiment from the smart money, logic holds that there lies a certain “tier” of hedge funds that decided to sell off their full holdings by the end of the third quarter. It’s worth mentioning that Renaissance Technologies dropped the largest stake of all the hedgies monitored by Insider Monkey, valued at an estimated $30.7 million in stock, and Robert Emil Zoellner’s Alpine Associates was right behind this move, as the fund dropped about $13.8 million worth of shares. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest dropped by 6 funds by the end of the third quarter.

Let’s now review hedge fund activity in other stocks similar to Opko Health Inc. (NYSE:OPK). These stocks are ABIOMED, Inc. (NASDAQ:ABMD), Bright Horizons Family Solutions Inc (NYSE:BFAM), Eaton Vance Corp (NYSE:EV), and West Pharmaceutical Services Inc. (NYSE:WST). This group of stocks’ market values matches Opko Health Inc. (NYSE:OPK)’s market value.

As you can see, these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $212 million. That figure was $94 million in Opko Health Inc. (NYSE:OPK)’s case. ABIOMED, Inc. (NASDAQ:ABMD) is the most popular stock in this table. On the other hand, West Pharmaceutical Services Inc. (NYSE:WST) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks, Opko Health Inc. (NYSE:OPK) 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.