Since Thermo Fisher Scientific Inc. (NYSE:TMO) has faced a decline in interest from the entirety of the hedge funds we track, it’s safe to say that there lies a certain “tier” of hedgies who were dropping their full holdings by the end of the third quarter. Interestingly, Arthur B Cohen and Joseph Healey’s Healthcor Management LP sold off the biggest position of all the hedgies monitored by Insider Monkey, comprising close to $34.5 million in stock. Barry Dargan’s fund, Intermede Investment Partners, also dumped its stock, about $23 million worth.
Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Thermo Fisher Scientific Inc. (NYSE:TMO) but similarly valued. We will take a look at Time Warner Inc (NYSE:TWX), American Express Company (NYSE:AXP), Abbott Laboratories (NYSE:ABT), and Occidental Petroleum Corporation (NYSE:OXY). This group of stocks’ market caps are similar to TMO’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| TWX | 56 | 3316284 | -7 |
| AXP | 49 | 12341242 | 1 |
| ABT | 52 | 1816762 | 5 |
| OXY | 40 | 1044119 | 2 |
As you can see these stocks had an average of 49 funds holding long positions and the average amount invested in these stocks was $4.63 billion. That figure was $2.92 billion in Thermo Fisher Scientific’s case. Time Warner Inc (NYSE:TWX) is the most popular stock in this table with 56 funds holding shares. On the other hand Occidental Petroleum Corporation (NYSE:OXY) is the least popular one with only 40 bullish hedge fund positions. Thermo Fisher Scientific Inc. (NYSE:TMO) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Time Warner Inc (NYSE:TWX) might be a better candidate to consider a long position.
