Should You Buy DENTSPLY International Inc. (XRAY)?

Consequently, key money managers were leading the bulls’ herd. GLG Partners, managed by Noam Gottesman, assembled the biggest position in DENTSPLY International Inc. (NASDAQ:XRAY). GLG Partners had $15.2 million invested in the company at the end of the quarter. Greg Poole’s Echo Street Capital Management also initiated a $13.9 million position during the quarter. The following funds were also among the new XRAY investors: John Overdeck and David Siegel’s Two Sigma Advisors, Andreas Halvorsen’s Viking Global, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

Let’s now review hedge fund activity in other stocks similar to DENTSPLY International Inc. (NASDAQ:XRAY). We will take a look at The WhiteWave Foods Co (NYSE:WWAV), Torchmark Corporation (NYSE:TMK), CDW Corp (NASDAQ:CDW), and Brixmor Property Group Inc (NYSE:BRX). This group of stocks’ market caps match XRAY’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
WWAV 33 690741 3
TMK 24 547957 10
CDW 29 510900 2
BRX 9 95058 -5

As you can see these stocks had an average of 24 hedge funds with bullish positions and the average amount invested in these stocks was $461 million. That figure was $807 million in XRAY’s case. The WhiteWave Foods Co (NYSE:WWAV) is the most popular stock in this table. On the other hand Brixmor Property Group Inc (NYSE:BRX) is the least popular one with only 9 bullish hedge fund positions. DENTSPLY International Inc. (NASDAQ:XRAY) 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 most collectively bullish on. In this regard, WWAV might be a better candidate to consider a long position.