Virtu Financial LLC Takes $672,000 Position in Bio-Rad Laboratories, Inc. $BIO

Virtu Financial LLC purchased a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,218 shares of the medical research company’s stock, valued at approximately $672,000.

Several other hedge funds also recently made changes to their positions in BIO. CWM LLC raised its holdings in Bio-Rad Laboratories by 26.7% in the fourth quarter. CWM LLC now owns 256 shares of the medical research company’s stock worth $78,000 after purchasing an additional 54 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in Bio-Rad Laboratories by 1.9% during the third quarter. OneDigital Investment Advisors LLC now owns 2,954 shares of the medical research company’s stock valued at $828,000 after buying an additional 55 shares during the period. Meeder Advisory Services Inc. boosted its holdings in shares of Bio-Rad Laboratories by 9.0% during the 4th quarter. Meeder Advisory Services Inc. now owns 813 shares of the medical research company’s stock valued at $246,000 after buying an additional 67 shares in the last quarter. RK Asset Management LLC boosted its holdings in shares of Bio-Rad Laboratories by 0.5% during the 4th quarter. RK Asset Management LLC now owns 14,573 shares of the medical research company’s stock valued at $4,415,000 after buying an additional 71 shares in the last quarter. Finally, Itau Unibanco Holding S.A. grew its position in shares of Bio-Rad Laboratories by 57.6% in the 4th 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. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Trading Down 0.5%

Bio-Rad Laboratories stock opened at $280.92 on Tuesday. Bio-Rad Laboratories, Inc. has a 12 month low of $228.40 and a 12 month high of $343.12. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 46.28 and a beta of 1.08. The business’s fifty day simple moving average is $284.62 and its two-hundred day simple moving average is $289.24. The company has a current ratio of 3.21, a quick ratio of 2.37 and a debt-to-equity ratio of 0.12.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on BIO. Weiss Ratings lowered shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $375.00 to $300.00 in a research note on Tuesday, April 7th. Wells Fargo & Company cut their price objective on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Finally, Royal Bank Of Canada began coverage on shares of Bio-Rad Laboratories in a research note on Friday, May 15th. They set an “outperform” rating and a $320.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Bio-Rad Laboratories currently has an average rating of “Hold” and an average target price of $303.33.

About Bio-Rad Laboratories

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.