Should You Follow Hedge Funds Into These Healthcare Stocks?

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#1. Allergan plc Ordinary Shares (NYSE:AGN)

As of the end of the fourth quarter of 2016, 97 hedge funds in our database were long Allergan plc Ordinary Shares (NYSE:AGN), down from 115 funds a quarter earlier. Nonetheless, it remained the most popular healthcare stock among hedge funds, and has rewarded those bullish investors with gains of 23% over the past six months. Last month, the company said that has received market authorization from the FDA for its TrueTear Intranasal Tear Neurostimulator, the first and only FDA-approved device developed to temporarily increase tear production during neurostimulation. Citigroup analyst Liav Abraham recently said in a report that Allergan plc Ordinary Shares (NYSE:AGN)’s pipeline is “overlooked and undervalued” by Wall Street. The analyst has a ‘Buy’ rating on the stock.

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hin255/Shutterstock.com

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