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Is Envision Healthcare Holdings Inc (NYSE:EVHC) ready to rally soon? The smart money seems to be in a pessimistic mood, as the number of bullish hedge fund positions declined by nine lately. At the end of this article we will also compare EVHC to other stocks including WellCare Health Plans, Inc. (NYSE:WCG), Patterson Companies, Inc. (NASDAQ:PDCO), and Phillips 66 Partners LP (NYSE:PSXP) to get a better sense of its popularity.
Follow Envision Healthcare Holdings Inc. (NYSE:EVHC)
Follow Envision Healthcare Holdings Inc. (NYSE:EVHC)
At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.
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Keeping this in mind, we’re going to take a look at the latest action encompassing Envision Healthcare Holdings Inc (NYSE:EVHC).
What does the smart money think about Envision Healthcare Holdings Inc (NYSE:EVHC)?
Heading into the fourth quarter of 2016, 34 funds tracked by Insider Monkey held shares of Envision Healthcare Holdings, which represents a decline of 21% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of key hedge fund managers who were increasing their holdings considerably (or already accumulated large positions).
Of the funds tracked by Insider Monkey, David Gallo’s Valinor Management LLC has the biggest position in Envision Healthcare Holdings Inc (NYSE:EVHC), worth close to $116.6 million, accounting for 4% of its total 13F portfolio. The second largest stake is held by Alpine Associates, led by Robert Emil Zoellner, holding a $102.1 million position; 3.7% of its 13F portfolio is allocated to the stock. Some other professional money managers that hold long positions consist of Andreas Halvorsen’s Viking Global, Scott Ferguson’s Sachem Head Capital and Keith Meister’s Corvex Capital.
