Portolan Capital Management LLC Sells 16,344 Shares of Bio-Rad Laboratories, Inc. $BIO

Portolan Capital Management LLC reduced its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 26.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 46,440 shares of the medical research company’s stock after selling 16,344 shares during the quarter. Portolan Capital Management LLC’s holdings in Bio-Rad Laboratories were worth $13,021,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Quent Capital LLC bought a new stake in Bio-Rad Laboratories in the 3rd quarter valued at approximately $25,000. Farther Finance Advisors LLC grew its stake in shares of Bio-Rad Laboratories by 52.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock worth $29,000 after acquiring an additional 36 shares in the last quarter. Geneos Wealth Management Inc. raised 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 during the last quarter. CWM LLC raised its holdings in shares of Bio-Rad Laboratories by 82.0% in the third quarter. CWM LLC now owns 202 shares of the medical research company’s stock valued at $57,000 after purchasing an additional 91 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Bio-Rad Laboratories by 24.0% in the third quarter. UMB Bank n.a. now owns 207 shares of the medical research company’s stock worth $58,000 after purchasing an additional 40 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BIO has been the subject of several recent research reports. Wall Street Zen cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Bio-Rad Laboratories has a consensus rating of “Hold” and an average target price of $358.50.

Bio-Rad Laboratories Stock Up 0.4%

BIO stock opened at $262.91 on Friday. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 9.42 and a beta of 1.18. Bio-Rad Laboratories, Inc. has a twelve month low of $211.43 and a twelve month high of $343.12. The business has a 50 day moving average price of $292.06 and a two-hundred day moving average price of $300.22. The company has a quick ratio of 4.19, a current ratio of 5.62 and a debt-to-equity ratio of 0.16.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, February 12th. The medical research company reported $2.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.06). The company had revenue of $693.20 million for the quarter, compared to the consensus estimate of $694.64 million. Bio-Rad Laboratories had a return on equity of 3.86% and a net margin of 29.42%.The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.90 EPS. Analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS 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.