Select Equity Group L.P. Has $151.33 Million Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Select Equity Group L.P. lowered its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 35.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 460,658 shares of the medical research company’s stock after selling 247,794 shares during the quarter. Select Equity Group L.P. owned 1.65% of Bio-Rad Laboratories worth $151,331,000 at the end of the most recent quarter.

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

Bio-Rad Laboratories Stock Performance

Shares of NYSE:BIO opened at $248.45 on Friday. The business’s fifty day moving average price is $243.46 and its two-hundred day moving average price is $298.74. Bio-Rad Laboratories, Inc. has a fifty-two week low of $215.38 and a fifty-two week high of $387.99. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of -3.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company decreased their price objective on Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. UBS Group decreased their price objective on Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Citigroup decreased their price objective on Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. StockNews.com lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Royal Bank of Canada decreased their price objective on Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.40.

About Bio-Rad Laboratories

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.