Tikvah Management LLC reduced its position in Bio-Rad Laboratories, Inc. (NYSE:BIO – Free Report) by 29.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,604 shares of the medical research company’s stock after selling 29,230 shares during the period. Bio-Rad Laboratories comprises approximately 6.1% of Tikvah Management LLC’s holdings, making the stock its 7th largest position. Tikvah Management LLC owned approximately 0.26% of Bio-Rad Laboratories worth $20,143,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in BIO. Integrated Wealth Concepts LLC acquired a new position in Bio-Rad Laboratories in the 2nd quarter worth approximately $27,000. Hollencrest Capital Management acquired a new stake in Bio-Rad Laboratories during the 1st quarter valued at $28,000. Geneos Wealth Management Inc. lifted its holdings in shares of Bio-Rad Laboratories by 115.2% in the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 76 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at $47,000. Finally, Itau Unibanco Holding S.A. boosted its position in shares of Bio-Rad Laboratories by 57.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 197 shares of the medical research company’s stock worth $60,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.
Analyst Upgrades and Downgrades
BIO has been the topic of several recent analyst reports. Zacks Research raised Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded Bio-Rad Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Wells Fargo & Company lifted their target price on Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Citigroup upped their target price on Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada increased their price target on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $343.33.
Bio-Rad Laboratories Trading Down 0.6%
NYSE BIO opened at $377.66 on Thursday. Bio-Rad Laboratories, Inc. has a 1-year low of $236.73 and a 1-year high of $396.23. The company has a current ratio of 3.14, a quick ratio of 2.33 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $10.10 billion, a PE ratio of 45.78 and a beta of 1.07. The firm’s fifty day simple moving average is $341.46 and its 200-day simple moving average is $302.00.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.87. Bio-Rad Laboratories had a return on equity of 3.54% and a net margin of 8.59%.The firm had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $623.99 million. During the same quarter last year, the firm earned $2.61 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.28 earnings per share 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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