The wave of consolidations in the health space is attracting top hedge fund billionaires, with biotech stocks being some of the most popular.
As recently reported by our sister publication Healthcare Global, Forbes recently compiled a list of the stocks the richest hedge fund billionaires are looking at, based on those either bought or sold in at least 10,000 shares.
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With M&A deals seeing a spike in 2015, the interest in certain stocks shifted. Teva Pharmaceutical, for instance, was one stock that drew “votes of confidence” from investors. Actavis, however, was on both the buying and selling list as hedge fund billionaires can’t seem to agree on whether the latest merger is good or bad news for the company.
Top stocks being bought
3. Endo International
4. Teva Pharmaceutical
5. Boston Scientific
Actavis is 24 percent owned by hedge funds. The debate on whether to buy or sell this stock stems from the merger between the Dublin-based drug giant and Botox maker Allergan.
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Top stocks being sold
1. HCA Holdings
HCA Holdings comes at No. 1 on Forbes’ list, as nine hedge fund billionaires cut back their positions at the end of Q1 after the hospital operator’s positive stock return over the past year. The stock, however, jumped 9 percent in June as the Supreme Court ruled to uphold an important part of the Affordable Care Act, benefitting hospital operations.
To see the complete list, visit Forbes.
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