Techne Corporation (TECH): Here is What Hedge Funds and Insiders Think About

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Is Techne Corporation (NASDAQ:TECH) a good investment?

In the eyes of many of your fellow readers, hedge funds are viewed as useless, outdated investment vehicles of an era lost to time. Although there are more than 8,000 hedge funds in operation currently, this site aim at the moguls of this club, about 525 funds. Analysts calculate that this group oversees the majority of the smart money’s total capital, and by watching their highest performing equity investments, we’ve uncovered a few investment strategies that have historically outperformed the market. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points annually for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outperformed the S&P 500 index by 33 percentage points in 11 months (explore the details and some picks here).

Techne Corporation (NASDAQ:TECH)

Equally as necessary, bullish insider trading activity is a second way to look at the financial markets. Just as you’d expect, there are lots of motivations for an executive to sell shares of his or her company, but only one, very clear reason why they would initiate a purchase. Various empirical studies have demonstrated the useful potential of this strategy if “monkeys” understand where to look (learn more here).

Thus, it’s important to study the newest info about Techne Corporation (NASDAQ:TECH).

What does the smart money think about Techne Corporation (NASDAQ:TECH)?

In preparation for the third quarter, a total of 14 of the hedge funds we track held long positions in this stock, a change of 0% from one quarter earlier. With hedgies’ sentiment swirling, there exists a few noteworthy hedge fund managers who were increasing their stakes meaningfully.

According to our 13F database, Renaissance Technologies, managed by Jim Simons, holds the largest position in Techne Corporation (NASDAQ:TECH). Renaissance Technologies has a $62.1 million position in the stock, comprising 0.2% of its 13F portfolio. On Renaissance Technologies’s heels is Chuck Royce of Royce & Associates, with a $31.8 million position; 0.1% of its 13F portfolio is allocated to the company. Other peers that hold long positions include Ken Griffin’s Citadel Investment Group, Glenn Russell Dubin’s Highbridge Capital Management and John Overdeck and David Siegel’s Two Sigma Advisors.

Judging by the fact that Techne Corporation (NASDAQ:TECH) has faced bearish sentiment from the top-tier hedge fund industry, it’s safe to say that there was a specific group of fund managers who were dropping their positions entirely heading into Q2. At the top of the heap, Shane Finemore’s Manikay Partners said goodbye to the largest position of the “upper crust” of funds we watch, valued at an estimated $3.4 million in stock, and Matthew Tewksbury of Stevens Capital Management was right behind this move, as the fund cut about $0.5 million worth. These bearish behaviors are important to note, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Insider trading activity in Techne Corporation (NASDAQ:TECH)

Insider buying made by high-level executives is particularly usable when the company we’re looking at has experienced transactions within the past six months. Over the last six-month time frame, Techne Corporation (NASDAQ:TECH) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll also take a look at the relationship between both of these indicators in other stocks similar to Techne Corporation (NASDAQ:TECH). These stocks are Sirona Dental Systems, Inc. (NASDAQ:SIRO), Mine Safety Appliances (NYSE:MSA), Align Technology, Inc. (NASDAQ:ALGN), STERIS Corp (NYSE:STE), and Opko Health Inc. (NYSE:OPK). All of these stocks are in the medical appliances & equipment industry and their market caps are similar to TECH’s market cap.

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