Quantedge Capital Pte Ltd Sells 7,200 Shares of Bio-Rad Laboratories, Inc. $BIO

Quantedge Capital Pte Ltd lessened its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 50.9% during the first quarter, HoldingsChannel reports. The fund owned 6,940 shares of the medical research company’s stock after selling 7,200 shares during the quarter. Bio-Rad Laboratories accounts for about 1.1% of Quantedge Capital Pte Ltd’s investment portfolio, making the stock its 22nd biggest holding. Quantedge Capital Pte Ltd’s holdings in Bio-Rad Laboratories were worth $1,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its stake in shares of Bio-Rad Laboratories by 37.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 29,592 shares of the medical research company’s stock worth $8,966,000 after purchasing an additional 8,012 shares during the last quarter. SG Americas Securities LLC grew its holdings in Bio-Rad Laboratories by 195.6% during the fourth quarter. SG Americas Securities LLC now owns 18,958 shares of the medical research company’s stock worth $5,744,000 after buying an additional 12,544 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in 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 valued at $120,956,000 after buying an additional 390,593 shares during the last quarter. Virtu Financial LLC purchased a new stake in Bio-Rad Laboratories in the 4th quarter valued at $672,000. Finally, JPMorgan Chase & Co. lifted its stake in Bio-Rad Laboratories by 4.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 56,250 shares of the medical research company’s stock valued at $15,772,000 after acquiring an additional 2,519 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Down 0.2%

BIO stock opened at $301.26 on Wednesday. The stock’s fifty day simple moving average is $291.32 and its two-hundred day simple moving average is $287.47. 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, Inc. has a 1-year low of $236.73 and a 1-year high of $343.12. The stock has a market cap of $8.06 billion, a P/E ratio of 49.63 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). The business had revenue of $592.10 million for the quarter, compared to analysts’ expectations of $589.91 million. Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.54 earnings per share. Analysts expect that Bio-Rad Laboratories, Inc. will post 9.42 EPS for the current year.

Wall Street Analyst Weigh In

BIO has been the topic of a number of analyst reports. 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. Citigroup downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their target price for the company from $375.00 to $300.00 in a report on Tuesday, April 7th. Weiss Ratings lowered shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Zacks Research cut shares of Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Royal Bank Of Canada assumed coverage on shares of Bio-Rad Laboratories in a research report on Friday, May 15th. They issued an “outperform” rating and a $320.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Bio-Rad Laboratories currently has a consensus rating of “Reduce” and a consensus target price 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.