OP Asset Management Ltd Takes Position in Bio-Rad Laboratories, Inc. $BIO

OP Asset Management Ltd purchased a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 6,552 shares of the medical research company’s stock, valued at approximately $1,826,000.

A number of other institutional investors also recently bought and sold shares of the stock. Capital Research Global Investors bought a new stake in Bio-Rad Laboratories during the 3rd quarter valued at approximately $117,303,000. Massachusetts Financial Services Co. MA raised its position in shares of Bio-Rad Laboratories by 4,534.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 399,207 shares of the medical research company’s stock worth $120,956,000 after acquiring an additional 390,593 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Bio-Rad Laboratories by 2,271.3% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 397,171 shares of the medical research company’s stock valued at $111,363,000 after purchasing an additional 380,422 shares during the period. Boston Partners purchased a new position in shares of Bio-Rad Laboratories in the 4th quarter valued at approximately $75,037,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Bio-Rad Laboratories by 6,586.3% during the first quarter. Assenagon Asset Management S.A. now owns 147,834 shares of the medical research company’s stock valued at $41,209,000 after purchasing an additional 145,623 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BIO shares. Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $375.00 to $300.00 in a report on Tuesday, April 7th. Wells Fargo & Company dropped their target price 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. Weiss Ratings downgraded shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada started 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 for the company. One 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. Based on data from MarketBeat, Bio-Rad Laboratories currently has a consensus rating of “Hold” and a consensus price target of $303.33.

Bio-Rad Laboratories Stock Down 0.2%

BIO stock opened at $300.15 on Monday. Bio-Rad Laboratories, Inc. has a twelve month low of $236.73 and a twelve month 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 has a market cap of $8.03 billion, a PE ratio of 49.45 and a beta of 1.08. The business has a 50 day moving average of $284.52 and a 200 day moving average of $288.42.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, April 30th. The medical research company reported $1.89 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 company had revenue of $592.10 million during the quarter, compared to the consensus estimate of $589.91 million. During the same period last year, the firm posted $2.54 earnings per share. The company’s revenue was up 1.1% compared to the same quarter last year. On average, research analysts forecast that Bio-Rad Laboratories, Inc. will post 9.42 EPS for the current fiscal year.

Bio-Rad Laboratories Company 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.