Is BIO-TECHNE Corp (TECH) a Good Stock To Buy?

Consequently, specific money managers have been driving this bullishness. James Dondero’s Highland Capital Management created the biggest position in BIO-TECHNE Corp (NASDAQ:TECH). Highland Capital Management had $7.2 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also initiated a $5.7 million position during the quarter. The following funds were also among the new TECH investors: Matthew Tewksbury’s Stevens Capital Management, Mike Vranos’s Ellington, and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as BIO-TECHNE Corp (NASDAQ:TECH) but similarly valued. These stocks are HollyFrontier Corp (NYSE:HFC), Store Capital Corp (NYSE:STOR), BOK Financial Corporation (NASDAQ:BOKF), and Life Storage Inc (NYSE:LSI). This group of stocks’ market caps resemble TECH’s market cap.

As you can see these stocks had an average of 16 hedge funds with bullish positions at the end of September and the average amount invested in these stocks was $200 million. That figure was $409 million in TECH’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 investors having reported long positions. BIO-TECHNE Corp (NASDAQ:TECH) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard HollyFrontier Corp (NYSE:HFC) might be a better candidate to consider taking a long position in.

Disclosure: none