Cramer Rosenthal Mcglynn LLC lowered its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 61.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,420 shares of the medical research company’s stock after selling 170,874 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned 0.36% of Bio-Rad Laboratories worth $25,399,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BIO. Westfield Capital Management Co. LP acquired a new position in Bio-Rad Laboratories during the third quarter valued at approximately $22,175,000. Wells Fargo & Company MN lifted its stake in Bio-Rad Laboratories by 16.7% in the fourth quarter. Wells Fargo & Company MN now owns 625,032 shares of the medical research company’s stock valued at $149,175,000 after buying an additional 89,347 shares in the last quarter. BlackRock Inc. lifted its stake in Bio-Rad Laboratories by 5.0% in the fourth quarter. BlackRock Inc. now owns 1,776,710 shares of the medical research company’s stock valued at $424,046,000 after buying an additional 85,176 shares in the last quarter. Deutsche Bank AG lifted its stake in Bio-Rad Laboratories by 228.5% in the fourth quarter. Deutsche Bank AG now owns 92,030 shares of the medical research company’s stock valued at $21,964,000 after buying an additional 64,016 shares in the last quarter. Finally, Claar Advisors LLC bought a new position in Bio-Rad Laboratories in the third quarter valued at approximately $13,333,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.
A number of research analysts have weighed in on the stock. Wells Fargo & Co cut their price target on shares of Bio-Rad Laboratories from $290.00 to $280.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Jefferies Group 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. 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. CL King lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating in a research note on Friday, February 16th. Finally, 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 on the stock in a research note on Wednesday, December 13th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $295.20.
Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) opened at $270.94 on Wednesday. The company has a quick ratio of 2.75, a current ratio of 3.93 and a debt-to-equity ratio of 0.15. The company has a market cap of $8,150.30, a price-to-earnings ratio of 71.11, a PEG ratio of 2.34 and a beta of 0.89. Bio-Rad Laboratories, Inc. has a 1 year low of $194.01 and a 1 year high of $279.59.
Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Tuesday, February 27th. The medical research company reported $1.50 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.22. The business had revenue of $620.43 million for the quarter, compared to analyst estimates of $618.89 million. Bio-Rad Laboratories had a net margin of 5.31% and a return on equity of 3.63%. research analysts forecast that Bio-Rad Laboratories, Inc. will post 5.86 EPS for the current year.
Bio-Rad Laboratories declared that its Board of Directors has authorized a share buyback program on Tuesday, November 28th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
TRADEMARK VIOLATION NOTICE: This piece was first posted by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of US & international copyright laws. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/03/14/cramer-rosenthal-mcglynn-llc-has-25-40-million-position-in-bio-rad-laboratories-inc-bio.html.
Bio-Rad Laboratories 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.
Want to see what other hedge funds are holding BIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bio-Rad Laboratories, Inc. (NYSE:BIO).
Receive News & Ratings for Bio-Rad Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Rad Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.