Hedge Funds Are Betting On Bio-Rad Laboratories, Inc. (BIO)

Consequently, key money managers were leading the bulls’ herd. Corvex Capital, managed by Keith Meister, created the biggest position in Bio-Rad Laboratories, Inc. (NYSE:BIO). Clint Murray’s Lodge Hill Capital also made a $21.4 million investment in the stock during the quarter. The following funds were also among the new BIO investors: James Dondero’s Highland Capital Management, Ed Bosek’s BeaconLight Capital, and Joseph Edelman’s Perceptive Advisors.

Let’s check out hedge fund activity in other stocks similar to Bio-Rad Laboratories, Inc. (NYSE:BIO). These stocks are Techne Corporation (NASDAQ:TECH), HollyFrontier Corp (NYSE:HFC), Store Capital Corp (NYSE:STOR), and BOK Financial Corporation (NASDAQ:BOKF). This group of stocks’ market values resemble BIO’s market value.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $222 million. That figure was $563 million in BIO’s case. HollyFrontier Corp (NYSE:HFC) is the most popular stock in this table. On the other hand Store Capital Corp (NYSE:STOR) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Bio-Rad Laboratories, Inc. (NYSE:BIO) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none.