Westfield Capital Management Co. LP Boosts Position in Bio-Rad Laboratories, Inc. $BIO

Westfield Capital Management Co. LP grew its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 6.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 165,107 shares of the medical research company’s stock after buying an additional 9,583 shares during the period. Westfield Capital Management Co. LP’s holdings in Bio-Rad Laboratories were worth $50,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Danske Bank A S purchased a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at approximately $30,000. Geneos Wealth Management Inc. increased its holdings in shares of Bio-Rad Laboratories by 115.2% during the 2nd 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. Farther Finance Advisors LLC increased its holdings in shares of Bio-Rad Laboratories by 76.9% during the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the medical research company’s stock valued at $56,000 after purchasing an additional 80 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Bio-Rad Laboratories by 24.0% during the 3rd quarter. UMB Bank n.a. now owns 207 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 40 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at approximately $61,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Trading Down 4.4%

Shares of BIO opened at $294.01 on Friday. Bio-Rad Laboratories, Inc. has a 52-week low of $219.42 and a 52-week high of $343.12. The company has a quick ratio of 2.37, a current ratio of 3.21 and a debt-to-equity ratio of 0.12. The firm’s fifty day moving average is $282.12 and its two-hundred day moving average is $291.70. The stock has a market cap of $7.87 billion, a PE ratio of 48.44 and a beta of 1.08.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.08). Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 6.52%.The business had revenue of $592.10 million for the quarter, compared to analyst estimates of $589.91 million. During the same period last year, the firm earned $2.54 EPS. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts forecast that Bio-Rad Laboratories, Inc. will post 9.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BIO. Weiss Ratings lowered shares of 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 shares of Bio-Rad Laboratories in a research note on Friday, May 15th. They issued an “outperform” rating and a $320.00 price target on the stock. Wells Fargo & Company dropped their price target on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Wall Street Zen cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Citigroup cut shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their price target for the company from $375.00 to $300.00 in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bio-Rad Laboratories has a consensus rating of “Hold” and a consensus price target of $303.33.

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.