Bio-Rad Laboratories, Inc. $BIO Position Increased by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 2,098.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 72,555 shares of the medical research company’s stock after buying an additional 69,254 shares during the quarter. BNP Paribas Financial Markets’ holdings in Bio-Rad Laboratories were worth $21,983,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Danske Bank A S bought a new stake in shares of Bio-Rad Laboratories during the 4th quarter valued at about $30,000. Geneos Wealth Management Inc. grew its position in shares of Bio-Rad Laboratories by 115.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock valued at $34,000 after buying an additional 76 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Bio-Rad Laboratories by 76.9% during the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the medical research company’s stock valued at $56,000 after buying an additional 80 shares during the last quarter. UMB Bank n.a. grew its position in shares of Bio-Rad Laboratories by 24.0% during the 3rd quarter. UMB Bank n.a. now owns 207 shares of the medical research company’s stock valued at $58,000 after buying an additional 40 shares during the last quarter. Finally, Financial Management Professionals Inc. bought a new stake in shares of Bio-Rad Laboratories during the 4th quarter valued at about $61,000. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Stock Down 4.4%

NYSE:BIO opened at $294.01 on Friday. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 48.44 and a beta of 1.08. Bio-Rad Laboratories, Inc. has a 1-year low of $219.42 and a 1-year high of $343.12. The company has a current ratio of 3.21, a quick ratio of 2.37 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average price is $282.12 and its 200 day moving average price is $291.70.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($0.08). Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The business had revenue of $592.10 million for the quarter, compared to analyst estimates of $589.91 million. During the same period in the previous year, the firm posted $2.54 earnings per share. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 9.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BIO. Royal Bank Of Canada began coverage on shares of Bio-Rad Laboratories in a research report on Friday, May 15th. They set an “outperform” rating and a $320.00 price objective for the company. Citigroup downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $375.00 to $300.00 in a research report on Tuesday, April 7th. Wall Street Zen cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings cut Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company cut their target price on Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $303.33.

About Bio-Rad Laboratories

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.