Is Smart Money Gaining Confidence In Bio-Rad Laboratories, Inc. (BIO)?

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As aggregate interest increased, key money managers were breaking ground themselves. Point72 Asset Management, managed by Steve Cohen, created the largest position in Bio-Rad Laboratories, Inc. (NYSE:BIO). Point72 Asset Management had $9.9 million invested in the company at the end of the quarter. George Hall’s Clinton Group also made an $0.6 million investment in the stock during the quarter. The other funds with new positions in the stock are Ray Dalio’s Bridgewater Associates, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, and Soros Fund Management.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Bio-Rad Laboratories, Inc. (NYSE:BIO) but similarly valued. These stocks are Lincoln Electric Holdings, Inc. (NASDAQ:LECO), Godaddy Inc (NYSE:GDDY), Siliconware Precision Industries (ADR) (NASDAQ:SPIL), and Team Health Holdings LLC (NYSE:TMH). All of these stocks’ market caps are similar to Bio-Rad Laboratories, Inc. (NYSE:BIO)’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
LECO 22 276662 -1
GDDY 21 130451 2
SPIL 10 14103 0
TMH 25 524520 3

As you can see, these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $236 million, compared to $477 million in Bio-Rad Laboratories, Inc. (NYSE:BIO)’s case. Team Health Holdings LLC (NYSE:TMH) is the most popular stock in this table with 25 long positions. On the other hand, Siliconware Precision Industries (ADR) (NASDAQ:SPIL) is the least popular one. 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 acquire a long stake.

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