Quantinno Capital Management LP Buys 6,646 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Quantinno Capital Management LP boosted its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 552.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,850 shares of the medical research company’s stock after purchasing an additional 6,646 shares during the quarter. Quantinno Capital Management LP’s holdings in Bio-Rad Laboratories were worth $2,579,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Venturi Wealth Management LLC lifted its holdings in shares of Bio-Rad Laboratories by 2,175.0% in the fourth quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock worth $30,000 after buying an additional 87 shares in the last quarter. GeoWealth Management LLC lifted its stake in Bio-Rad Laboratories by 342.9% in the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company’s stock worth $31,000 after purchasing an additional 72 shares in the last quarter. Picton Mahoney Asset Management boosted its holdings in Bio-Rad Laboratories by 55.6% in the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 35 shares during the period. Asset Planning Inc bought a new position in Bio-Rad Laboratories in the 4th quarter valued at $33,000. Finally, UMB Bank n.a. grew its position in shares of Bio-Rad Laboratories by 41.6% during the 4th quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock valued at $36,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $246.78 on Wednesday. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of -3.79 and a beta of 1.00. The business has a 50 day moving average of $243.42 and a 200 day moving average of $296.91. 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, Inc. has a 1-year low of $215.38 and a 1-year high of $387.99.

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

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.