Below is the list of 5 pharmaceutical stocks to buy according to Efrem Kamen’s Pura Vida Investments hedge fund. For a detailed discussion about Efrem Kamen’s investment philosophy and portfolio management strategies please see 10 Pharmaceutical Stocks to Buy According to Efrem Kamen’s Pura Vida Investments.
5. Inspire Medical Systems, Inc. (NYSE:INSP)
Number of Hedge Fund Holders: 29
Efrem Kamen’s Pura Vida Investments has been holding a position in Inspire Medical Systems, Inc. (NYSE:INSP) since the second quarter of 2018. The firm benefited from its long-running position in a medical technology company. The share price of Inspire Medical Systems has soared from its IPO price of $24 in early 2018 to around $220 at present. The share price performance is backed by robust financial growth. The company’s third-quarter revenue of $61.69 million grew 72% year over year and topped the consensus estimate by $6.24 million.
Of the 867 elite funds tracked by Insider Monkey, 29 were bullish about the company. Like Efrem Kamen’s Pura Vida Investments, D E Shaw and Marshall Wace LLP are among the leading stakeholder in the company.
4. LivaNova PLC (NASDAQ:LIVN)
Number of Hedge Fund Holders: 32
Shares of LivaNova PLC (NASDAQ:LIVN) surged more than 40% in the last twelve months, thanks to strong financial growth. The company’s third-quarter revenue and earnings exceeded forecasts while updated earnings guidance beat the consensus. The company expects earnings per share in the range of $2.00 – $2.10.
In the third quarter investor letter, Diamond Hill Capital, an investment management firm, mentioned LivaNova. Here is what Diamond Hill Capital stated:
“Our health care holdings were negative in aggregate, but outpaced index peers, which boosted relative performance along with our below-benchmark positioning On an individual holdings’ basis, we exited global medical technology company LivaNova as shares approached our estimate of intrinsic value.”
3. NanoString Technologies, Inc. (NASDAQ:NSTG)
Number of Hedge Fund Holders: 26
NanoString Technologies, Inc. (NASDAQ:NSTG) is among the long-running stock holdings of Pura Vida Investments. The firm lifted its position in the company by 26% during the September quarter to capitalize on the share price selloff. NanoString shares are down 28% in the last six months. The company generated revenue of $37.15 million in the third quarter, up 16.66% year over year.
NanoString Technologies was in 26 hedge funds’ portfolios as of September. Marshall Wace LLP and ARK Investment Management were among the leading stakeholders in the company.
2. Establishment Labs Holdings Inc. (NASDAQ:ESTA)
Number of Hedge Fund Holders: 18
Efrem Kamen’s Pura Vida Investments has been holding a position in Establishment Labs Holdings Inc. (NASDAQ:ESTA) since the third quarter of 2018. The firm benefitted from its position as shares rallied sharply in the past two years. The global medical technology company posted sales of $29.0 million in the third quarter, an increase of 27.6% year-over-year. It expects full-year sales in the range of $124 million to $128 million, reflecting a 46% to 51% increase from the past year.
Hedge funds sentiment increased in Establishment Labs Holdings Inc. (NASDAQ:ESTA) during the third quarter. The number of long hedge funds’ positions jumped to 18 as of September. Joseph Edelman’s Perceptive Advisors and Efrem Kamen’s Pura Vida Investments were the leading stakeholders in the company.
1. ViewRay, Inc. (NASDAQ:VRAY)
Number of Hedge Fund Holders: 17
ViewRay, Inc. (NASDAQ:VRAY) is the largest pharmaceutical stock holding of Efrem Kamen’s Pura Vida Investments, according to 13F filings tracked by Insider Monkey. The demand for its products continues to grow at a hefty pace. The company received seven new orders totaling $39.4 million for its MRIdian systems, bringing the total backlog to $295.1 million as of September from $238.9 million in the previous year period.
ViewRay, Inc. (NASDAQ:VRAY) was in 17 hedge funds’ portfolios as of September. Hudson Executive Capital and Millennium Management were among the leading stakeholders in the company.
You can also take a look at 10 Pharmaceutical Stocks to Buy Under $20 According to Jeremy Green’s Redmile Group and 10 Dividend Stocks to Buy According to Hoon Kim’s Quantinno Capital.
