Sivik Global Healthcare LLC reduced its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO – Free Report) by 20.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,000 shares of the medical research company’s stock after selling 2,000 shares during the period. Bio-Rad Laboratories accounts for about 1.9% of Sivik Global Healthcare LLC’s portfolio, making the stock its 26th largest holding. Sivik Global Healthcare LLC’s holdings in Bio-Rad Laboratories were worth $3,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in BIO. GAMMA Investing LLC boosted its stake in Bio-Rad Laboratories by 25.7% during the third quarter. GAMMA Investing LLC now owns 1,393 shares of the medical research company’s stock worth $526,000 after buying an additional 285 shares during the last quarter. Everhart Financial Group Inc. acquired a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth $276,000. Envestnet Portfolio Solutions Inc. increased its stake in shares of Bio-Rad Laboratories by 46.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,670 shares of the medical research company’s stock worth $784,000 after acquiring an additional 841 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Bio-Rad Laboratories during the 2nd quarter worth $27,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Bio-Rad Laboratories during the 2nd quarter worth $2,472,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently commented on BIO. Royal Bank Of Canada raised their price objective on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Bio-Rad Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Zacks Research raised shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Wells Fargo & Company boosted their price target on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Finally, Citigroup increased their price objective on Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $343.33.
Bio-Rad Laboratories Stock Down 0.2%
Shares of BIO stock traded down $0.59 during trading hours on Tuesday, reaching $363.83. 33,627 shares of the stock were exchanged, compared to its average volume of 311,414. Bio-Rad Laboratories, Inc. has a 12-month low of $236.73 and a 12-month high of $396.23. The business’s fifty day moving average is $372.18 and its two-hundred day moving average is $318.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.14 and a quick ratio of 2.33. The firm has a market capitalization of $9.73 billion, a P/E ratio of 44.10 and a beta of 1.07.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The medical research company reported $2.62 EPS for the quarter, topping the consensus estimate of $1.75 by $0.87. The company had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $623.99 million. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. The firm’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.61 EPS. As a group, research analysts expect that Bio-Rad Laboratories, Inc. will post 9.28 EPS for the current fiscal year.
Bio-Rad Laboratories Profile
Bio-Rad Laboratories, Inc is a global life science research and clinical diagnostics company headquartered in Hercules, California. Founded in 1952, the company develops, manufactures and sells products that support scientific research, biotechnology production, medical testing and quality assurance.
Its Life Science segment provides instruments, reagents, consumables and software used in areas such as genomics, proteomics, cell biology, digital PCR, electrophoresis, chromatography and biopharmaceutical manufacturing.
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