Baron Funds: “Roper (ROP) Held Up Better than the Broader Market”

Baron Funds, an asset management firm, published its “Baron Asset Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Baron Asset Fund (the “Fund”) fell 14.52% (Institutional Shares), while the Russell Midcap Growth Index (the “Index”) fell 12.58%. The S&P 500 Index, which comprises both growths and value-oriented large-cap stocks, fell 4.60%. Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Baron Asset Fund mentioned Roper Technologies, Inc. (NYSE:ROP) and explained its insights for the company. Founded in 1890, Roper Technologies, Inc. (NYSE:ROP) is a diversified industrial company based in Sarasota, Florida with a $45.5 billion market capitalization. Roper Technologies, Inc. (NYSE:ROP) delivered a -12.51% return since the beginning of the year, while its 12-month returns are down by -1.83%. The stock closed at $430.33 per share on May 13, 2022.

Here is what Baron Asset Fund has to say about Roper Technologies, Inc. (NYSE:ROP) in its Q1 2022 investor letter:

“Outperformance of the Fund’s investments in Communication Services, Financials, and Industrials and lower exposure to the lagging Consumer Discretionary sector added the most value. Strength in Industrials was driven by diversified technology company Roper Technologies Inc. (NYSE:ROP). Roper’s stock held up better than the broader market after its fiscal year 2022 guidance exceeded Wall Street expectations.”

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Our calculations show that Roper Technologies, Inc. (NYSE:ROP) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Roper Technologies, Inc. (NYSE:ROP) was in 41 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 25 funds in the previous quarter. Roper Technologies, Inc. (NYSE:ROP) delivered a -1.71% return in the past 3 months.

In October 2021, we also shared another hedge fund’s views on Roper Technologies, Inc. (NYSE:ROP) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.