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

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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.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TECH 17 409164 4
HFC 25 203946 6
STOR 11 142506 -6
BOKF 12 130391 1

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.

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