Northwestern Mutual Wealth Management Co. lifted its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO – Free Report) by 46,332.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 74,756 shares of the medical research company’s stock after purchasing an additional 74,595 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Bio-Rad Laboratories were worth $22,650,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. New York Life Investment Management LLC purchased a new stake in shares of Bio-Rad Laboratories during the 4th quarter worth about $501,000. ABC Arbitrage SA purchased a new stake in shares of Bio-Rad Laboratories during the 4th quarter worth about $351,000. First Eagle Investment Management LLC grew its holdings in shares of Bio-Rad Laboratories by 2.0% during the 4th quarter. First Eagle Investment Management LLC now owns 2,570,473 shares of the medical research company’s stock worth $778,828,000 after purchasing an additional 50,154 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of Bio-Rad Laboratories during the 4th quarter worth about $357,000. Finally, Ethic Inc. grew its holdings in shares of Bio-Rad Laboratories by 164.3% during the 4th quarter. Ethic Inc. now owns 1,919 shares of the medical research company’s stock worth $581,000 after purchasing an additional 1,193 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $375.00 to $300.00 in a report on Tuesday, April 7th. Wall Street Zen cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Royal Bank Of Canada started coverage on Bio-Rad Laboratories in a report on Friday, May 15th. They issued an “outperform” rating and a $320.00 price target for the company. Finally, Weiss Ratings cut Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $303.33.
Bio-Rad Laboratories Stock Down 0.4%
NYSE BIO opened at $280.56 on Wednesday. The stock has a market cap of $7.51 billion, a PE ratio of 46.22 and a beta of 1.06. Bio-Rad Laboratories, Inc. has a fifty-two week low of $211.43 and a fifty-two week high of $343.12. The business has a 50 day moving average price of $273.53 and a two-hundred day moving average price of $292.69. The company has a quick ratio of 2.37, a current ratio of 3.21 and a debt-to-equity ratio of 0.12.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.08). The company had revenue of $592.10 million during the quarter, compared to analysts’ expectations of $589.91 million. Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 6.52%.The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.54 EPS. As a group, sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.32 EPS for the current fiscal year.
Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.
Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.
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