Point72 Asset Management L.P. lowered its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 74.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,842 shares of the medical research company’s stock after selling 103,441 shares during the quarter. Point72 Asset Management L.P.’s holdings in Bio-Rad Laboratories were worth $12,893,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Bio-Rad Laboratories by 0.7% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,811 shares of the medical research company’s stock worth $1,410,000 after buying an additional 27 shares during the period. Advisory Services Network LLC boosted its holdings in Bio-Rad Laboratories by 21.3% during the 4th quarter. Advisory Services Network LLC now owns 194 shares of the medical research company’s stock valued at $72,000 after acquiring an additional 34 shares during the period. Global Retirement Partners LLC boosted its holdings in Bio-Rad Laboratories by 48.6% during the 4th quarter. Global Retirement Partners LLC now owns 110 shares of the medical research company’s stock valued at $41,000 after acquiring an additional 36 shares during the period. Bessemer Group Inc. grew its position in Bio-Rad Laboratories by 137.5% in the 4th quarter. Bessemer Group Inc. now owns 76 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 44 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its position in Bio-Rad Laboratories by 1.3% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 3,990 shares of the medical research company’s stock valued at $1,476,000 after acquiring an additional 50 shares in the last quarter. 63.32% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently issued reports on the stock. Wells Fargo & Co increased their price target on shares of Bio-Rad Laboratories from $430.00 to $440.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Barclays dropped their price objective on shares of Bio-Rad Laboratories from $435.00 to $430.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Citigroup cut their target price on shares of Bio-Rad Laboratories from $450.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, March 20th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Bio-Rad Laboratories currently has an average rating of “Buy” and an average target price of $414.00.
NYSE:BIO traded up $8.26 during midday trading on Thursday, reaching $341.26. The company had a trading volume of 247,889 shares, compared to its average volume of 214,049. The firm has a market capitalization of $10.27 billion, a price-to-earnings ratio of 5.86 and a beta of 1.07. The stock’s fifty day simple moving average is $367.71 and its 200-day simple moving average is $358.85. Bio-Rad Laboratories, Inc. has a 12-month low of $281.66 and a 12-month high of $413.02. The company has a current ratio of 2.41, a quick ratio of 1.80 and a debt-to-equity ratio of 0.03.
Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.44 by ($0.12). The company had revenue of $624.43 million for the quarter, compared to analysts’ expectations of $636.50 million. Bio-Rad Laboratories had a return on equity of 4.06% and a net margin of 76.08%. As a group, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 8.35 EPS for the current year.
Bio-Rad Laboratories Profile
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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