Tikvah Management LLC Cuts Stake in Bio-Rad Laboratories, Inc. $BIO

Tikvah Management LLC lessened its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 29.9% in the 2nd quarter, Holdings Channel reports. The firm owned 68,604 shares of the medical research company’s stock after selling 29,230 shares during the quarter. Bio-Rad Laboratories accounts for 6.1% of Tikvah Management LLC’s portfolio, making the stock its 7th biggest holding. Tikvah Management LLC’s holdings in Bio-Rad Laboratories were worth $20,143,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new position in Bio-Rad Laboratories during the second quarter worth $27,000. Hollencrest Capital Management acquired a new stake in shares of Bio-Rad Laboratories in the first quarter worth about $28,000. Geneos Wealth Management Inc. boosted its stake 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 worth $34,000 after acquiring an additional 76 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Bio-Rad Laboratories during the 4th quarter worth about $47,000. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of Bio-Rad Laboratories by 57.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 197 shares of the medical research company’s stock valued at $60,000 after acquiring an additional 72 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BIO has been the topic of a number of recent analyst reports. Citigroup raised their price objective on Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded Bio-Rad Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Royal Bank Of Canada lifted their price target on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Zacks Research raised shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company raised their target price on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bio-Rad Laboratories has an average rating of “Hold” and an average target price of $343.33.

Bio-Rad Laboratories Price Performance

NYSE BIO opened at $377.66 on Thursday. Bio-Rad Laboratories, Inc. has a twelve month low of $236.73 and a twelve month high of $396.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.33 and a current ratio of 3.14. The stock has a market capitalization of $10.10 billion, a PE ratio of 45.78 and a beta of 1.07. The stock has a 50-day simple moving average of $341.46 and a 200 day simple moving average of $302.00.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.87. The firm had revenue of $651.00 million for the quarter, compared to analyst estimates of $623.99 million. Bio-Rad Laboratories had a return on equity of 3.54% and a net margin of 8.59%.The company’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $2.61 EPS. Research analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.28 EPS for the current year.

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.