Should You Add Halyard Health Inc (HYH) To Your Portfolio?

With a general bullishness amongst the heavyweights, key money managers were breaking ground themselves. Cove Street Capital, led by Jeffrey Bronchick, established the largest position in Halyard Health Inc (NYSE:HYH). Cove Street Capital had $25.7 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also made a $10.5 million investment in the stock during the quarter. The other funds with brand new HYH positions are Glenn Russell Dubin’s Highbridge Capital Management, David Costen Haley’s HBK Investments, and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Halyard Health Inc (NYSE:HYH) but similarly valued. These stocks are HubSpot Inc (NYSE:HUBS), Proto Labs Inc (NYSE:PRLB), Exponent, Inc. (NASDAQ:EXPO), and Children’s Place Retail Stores, Inc. (NASDAQ:PLCE). This group of stocks’ market values are closest to HYH’s market value.

As you can see these stocks had an average of 16 funds with bullish positions and the average amount invested in these stocks was $127 million, compared to $89 million in HYH’s case. HubSpot Inc (NYSE:HUBS) is the most popular stock in this table. On the other hand Exponent, Inc. (NASDAQ:EXPO) is the least popular one with only eight investors reporting long positions. Halyard Health Inc (NYSE:HYH) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard HubSpot Inc (NYSE:HUBS) might be a better candidate to consider taking a long position in.

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Disclosure: None