Blue Jay Capital Management sold 15% of its ABIOMED, Inc. (NASDAQ:ABMD) shares during the second quarter, ending the period with 104,920 shares of the company, whose total worth was over $11.46 million at the end of June. ABIOMED’s shares delivered a return of 17.7% in the three-month period ended September 30. Heading into the third quarter of 2016, a total of 29 of the hedge funds tracked by Insider Monkey were bullish on this stock, 21% higher than from the previous quarter. Palo Alto Investors was the largest shareholder of ABIOMED, Inc. (NASDAQ:ABMD), with a stake worth $225.9 million reported as of the end of June. Trailing Palo Alto Investors was Renaissance Technologies, which amassed a stake valued at $67.9 million. Sectoral Asset Management, Arrowstreet Capital, and Polar Capital were other shareholders of the company.
Boston Scientific Corporation (NYSE:BSX) was a new pick of Blue Jay Capital in the second quarter, as the fund acquired 469,900 Class A shares of the company, with those shares being worth $10.98 million at the end of June. The stock however returned a scant 1.8% during the third quarter, so this was one of the fund’s rare underperforming picks. Blue Jay was one of many hedge funds in our system to jump into the stock in Q2. BSX was in 47 hedge funds’ portfolios at the end of June, up from just 35 at the end of the previous quarter. OrbiMed Advisors was the largest shareholder of Boston Scientific Corporation (NYSE:BSX), with a stake worth $540.5 million reported as of the end of June. Trailing OrbiMed Advisors was Citadel Investment Group, which amassed a stake valued at $343.4 million. Millennium Management, Renaissance Technologies, and Diamond Hill Capital also held valuable positions in the company.