NWQ Investment Management Company LLC lessened its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 257,083 shares of the medical research company’s stock after selling 30,493 shares during the period. NWQ Investment Management Company LLC owned about 0.86% of Bio-Rad Laboratories worth $61,358,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in shares of Bio-Rad Laboratories by 297.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 560 shares of the medical research company’s stock valued at $134,000 after buying an additional 419 shares during the period. Timber Hill LLC purchased a new position in shares of Bio-Rad Laboratories during the third quarter valued at approximately $214,000. Private Advisor Group LLC purchased a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $248,000. Macquarie Group Ltd. purchased a new position in shares of Bio-Rad Laboratories during the third quarter valued at approximately $255,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Bio-Rad Laboratories by 42.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,165 shares of the medical research company’s stock valued at $278,000 after buying an additional 350 shares during the period. Institutional investors and hedge funds own 64.51% of the company’s stock.
BIO has been the subject of several recent analyst reports. TheStreet upgraded Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $290.00 price target (up previously from $250.00) on shares of Bio-Rad Laboratories in a research note on Wednesday, November 29th. Zacks Investment Research raised shares of Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $291.00 price target for the company in a research note on Wednesday, December 13th. CL King downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating in a research note on Friday, February 16th. Finally, Citigroup lifted their price target on shares of Bio-Rad Laboratories to $325.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $295.20.
Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) opened at $274.11 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.93. Bio-Rad Laboratories, Inc. has a 12 month low of $194.01 and a 12 month high of $279.59. The firm has a market cap of $8,158.33, a P/E ratio of 71.94, a PEG ratio of 2.34 and a beta of 0.89.
Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Tuesday, February 27th. The medical research company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.22. Bio-Rad Laboratories had a net margin of 5.31% and a return on equity of 3.63%. The firm had revenue of $620.43 million during the quarter, compared to the consensus estimate of $618.89 million. sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 5.86 EPS for the current fiscal year.
Bio-Rad Laboratories declared that its Board of Directors has approved a share repurchase program on Tuesday, November 28th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
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Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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