Health care stocks with the largest net increases in hedge fund popularity – Goldman Sachs

[Medical industry stock market graph chart]
Rasi Bhadramani

Hedge funds increased their overweight positioning in health care (NYSEARCA:XLV [https://seekingalpha.com/symbol/XLV]) despite a 7% decline in the sector during the second quarter, according to Goldman Sachs’s Hedge Fund Trend Monitor.

The concentration was mostly seen in biotech and pharmaceuticals.

Also, vs. the Russell 3000 (IWB [https://seekingalpha.com/symbol/IWB]), health care saw a 458-basis-point change in tilt positioning by hedge funds.

[Subsector tilts and changes in tilts]
Subsector tilts and changes in tilts (FactSet, Goldman Sachs Global Investment Research)

Below are the most popular increases in health care based on the number of funds changing portfolio allocation during the second quarter:

* Thermo Fisher Scientific (TMO [https://seekingalpha.com/symbol/TMO]) - # of position increases minus decreases: 44
* UnitedHealth Group (UNH [https://seekingalpha.com/symbol/UNH]) - # of position increases minus decreases: 44
* Veeva Systems (VEEV [https://seekingalpha.com/symbol/VEEV]) - # of position increases minus decreases: 37
* Insmed Inc. (INSM [https://seekingalpha.com/symbol/INSM]) - # of position increases minus decreases: 36
* Becton, Dickinson, and Co. (BDX [https://seekingalpha.com/symbol/BDX]) - # of position increases minus decreases: 31
* Exact Sciences Corp. (EXAS [https://seekingalpha.com/symbol/EXAS]) - # of position increases minus decreases: 31
* Halozyme Therapeutics (HALO [https://seekingalpha.com/symbol/HALO]) - # of position increases minus decreases: 31
* NeoGenomics (NEO [https://seekingalpha.com/symbol/NEO]) - # of position increases minus decreases: 31
* Neogen Corp (NEOG [https://seekingalpha.com/symbol/NEOG]) - # of position increases minus decreases: 30
* Bristol-Myers Squibb Co. (BMY [https://seekingalpha.com/symbol/BMY]) - # of position increases minus decreases: 28

MORE ON THE HEALTH CARE SELECT SECTOR SPDR® FUND ETF:

* XLV: Life Expectancy, Patents, And A Positive Outlook Will Pave The Way [https://seekingalpha.com/article/4801594-xlv-life-expectancy-patents-and-a-positive-outlook-will-pave-the-way]
* XLV: The S&P 500's Most Discounted Sector? Uncover The Hidden Risk [https://seekingalpha.com/article/4799174-xlv-the-sp-500s-most-discounted-sector-uncover-the-hidden-risk]
* Understanding XLV: A Sector ETF Focused On U.S. Healthcare Giants [https://seekingalpha.com/article/4794183-understanding-xlv-sector-etf-focused-on-us-healthcare-giants]
* Health care stocks show signs of recovery after prolonged slump – Evercore ISI [https://seekingalpha.com/news/4487189-health-care-stocks-show-signs-of-recovery-after-prolonged-slump-evercore-isi]
* Oppenheimer Asset Management sector playbook as Wall Street trades near record highs [https://seekingalpha.com/news/4486676-oppenheimer-asset-management-sector-playbook-as-wall-street-trades-near-record-highs]