Geode Capital Management LLC lessened its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO – Free Report) by 3.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 338,328 shares of the medical research company’s stock after selling 11,888 shares during the quarter. Geode Capital Management LLC owned approximately 1.25% of Bio-Rad Laboratories worth $102,531,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Natixis Advisors LLC grew its position in Bio-Rad Laboratories by 67.1% in the 3rd quarter. Natixis Advisors LLC now owns 65,069 shares of the medical research company’s stock valued at $18,245,000 after acquiring an additional 26,119 shares during the last quarter. Mangrove Partners IM LLC bought a new position in Bio-Rad Laboratories in the 3rd quarter valued at $35,568,000. Gotham Asset Management LLC grew its position in Bio-Rad Laboratories by 41.8% in the 3rd quarter. Gotham Asset Management LLC now owns 124,626 shares of the medical research company’s stock valued at $34,944,000 after acquiring an additional 36,763 shares during the last quarter. TD Asset Management Inc grew its position in Bio-Rad Laboratories by 461.0% in the 3rd quarter. TD Asset Management Inc now owns 8,988 shares of the medical research company’s stock valued at $2,520,000 after acquiring an additional 7,386 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Bio-Rad Laboratories by 36.0% in the 3rd quarter. Assetmark Inc. now owns 28,808 shares of the medical research company’s stock worth $8,077,000 after buying an additional 7,633 shares during the period. Institutional investors own 65.24% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. Wall Street Zen cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings cut Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Royal Bank Of Canada assumed coverage on Bio-Rad Laboratories in a report on Friday, May 15th. They issued an “outperform” rating and a $320.00 target price for the company. Wells Fargo & Company lowered 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. Finally, Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $375.00 to $300.00 in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $303.33.
Bio-Rad Laboratories Trading Down 4.4%
BIO opened at $294.01 on Friday. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 48.44 and a beta of 1.08. The company has a current ratio of 3.21, a quick ratio of 2.37 and a debt-to-equity ratio of 0.12. Bio-Rad Laboratories, Inc. has a 12 month low of $219.42 and a 12 month high of $343.12. The stock has a fifty day moving average price of $282.12 and a 200-day moving average price of $291.70.
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 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.08). The company had revenue of $592.10 million during the quarter, compared to the consensus estimate of $589.91 million. Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 6.52%.The company’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.54 earnings per share. As a group, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.42 earnings per share for the current fiscal year.
Bio-Rad Laboratories 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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