Bio-Rad Laboratories, Inc. (NYSE:BIO) Holdings Lowered by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 32.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 323,908 shares of the medical research company’s stock after selling 154,930 shares during the period. Geode Capital Management LLC’s holdings in Bio-Rad Laboratories were worth $108,124,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital Advisors Ltd. LLC boosted its position in shares of Bio-Rad Laboratories by 193.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 62 shares in the last quarter. UMB Bank n.a. lifted its stake in Bio-Rad Laboratories by 140.6% during the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 45 shares during the last quarter. Gladius Capital Management LP bought a new stake in Bio-Rad Laboratories during the third quarter worth approximately $32,000. Headlands Technologies LLC acquired a new position in shares of Bio-Rad Laboratories in the 2nd quarter worth $51,000. Finally, Point72 Hong Kong Ltd purchased a new position in Bio-Rad Laboratories in the 3rd quarter worth about $55,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Down 4.1 %

Shares of NYSE:BIO opened at $323.94 on Thursday. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $9.07 billion, a PE ratio of -11.85 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a 1 year low of $262.12 and a 1 year high of $387.99. The firm has a fifty day moving average price of $341.06 and a 200 day moving average price of $322.09.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $628.18 million. During the same quarter in the prior year, the company posted $2.33 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. Analysts expect that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current fiscal year.

Analyst Ratings Changes

BIO has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company assumed coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price target on the stock. Citigroup lifted their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $394.20.

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.