Worldquant Millennium Advisors LLC Boosts Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Worldquant Millennium Advisors LLC boosted its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 43.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,752 shares of the medical research company’s stock after buying an additional 3,257 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in Bio-Rad Laboratories were worth $3,597,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp acquired a new stake in shares of Bio-Rad Laboratories during the second quarter worth $180,040,000. First Eagle Investment Management LLC boosted its holdings in shares of Bio-Rad Laboratories by 32,296.9% during the second quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock worth $173,773,000 after purchasing an additional 634,311 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Bio-Rad Laboratories during the third quarter worth $83,681,000. Dimensional Fund Advisors LP boosted its holdings in shares of Bio-Rad Laboratories by 64.4% during the second quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company’s stock worth $135,081,000 after purchasing an additional 193,700 shares during the last quarter. Finally, Select Equity Group L.P. boosted its holdings in shares of Bio-Rad Laboratories by 26.2% during the second quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock worth $177,391,000 after purchasing an additional 134,856 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Up 1.0 %

NYSE:BIO opened at $325.50 on Friday. The business’s 50-day moving average is $341.22 and its two-hundred day moving average is $319.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52. Bio-Rad Laboratories, Inc. has a 12 month low of $262.12 and a 12 month high of $387.99. The firm has a market capitalization of $9.11 billion, a PE ratio of -11.91 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.16 by $0.85. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The company had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. During the same period last year, the company posted $2.33 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. Research analysts predict that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 target price on the stock. Finally, Royal Bank of Canada increased their target price on Bio-Rad Laboratories from $446.00 to $469.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $391.80.

Bio-Rad Laboratories Company 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.