Southeastern Asset Management Inc. TN Reduces Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Southeastern Asset Management Inc. TN lessened its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 308,469 shares of the medical research company’s stock after selling 9,867 shares during the period. Bio-Rad Laboratories makes up 4.8% of Southeastern Asset Management Inc. TN’s holdings, making the stock its 8th biggest holding. Southeastern Asset Management Inc. TN’s holdings in Bio-Rad Laboratories were worth $101,335,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Bio-Rad Laboratories by 33.4% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,909 shares of the medical research company’s stock worth $627,000 after acquiring an additional 478 shares in the last quarter. ProShare Advisors LLC boosted its position in Bio-Rad Laboratories by 8.0% in the fourth quarter. ProShare Advisors LLC now owns 901 shares of the medical research company’s stock valued at $296,000 after buying an additional 67 shares during the last quarter. Quantinno Capital Management LP raised its position in Bio-Rad Laboratories by 552.0% during the 4th quarter. Quantinno Capital Management LP now owns 7,850 shares of the medical research company’s stock worth $2,579,000 after buying an additional 6,646 shares during the last quarter. Man Group plc purchased a new position in Bio-Rad Laboratories during the 4th quarter worth approximately $2,535,000. Finally, Nomura Holdings Inc. purchased a new position in Bio-Rad Laboratories during the 4th quarter worth approximately $1,004,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Up 2.5%

Bio-Rad Laboratories stock opened at $242.94 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85. The business has a 50 day simple moving average of $243.51 and a 200-day simple moving average of $299.31. The stock has a market capitalization of $6.80 billion, a PE ratio of -3.74 and a beta of 1.00. Bio-Rad Laboratories, Inc. has a 12 month low of $215.38 and a 12 month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.81. The firm had revenue of $585.40 million for the quarter, compared to analyst estimates of $573.01 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. The business’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.30 earnings per share. On average, analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Citigroup reduced their price target on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Royal Bank of Canada reduced their price target on Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. UBS Group cut their price objective on Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company cut their price objective on Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Finally, StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $327.40.

Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.