Bio-Rad Laboratories, Inc. $BIO Stake Boosted by Assetmark Inc.

Assetmark Inc. increased its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 36.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 28,808 shares of the medical research company’s stock after buying an additional 7,633 shares during the period. Assetmark Inc.’s holdings in Bio-Rad Laboratories were worth $8,077,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in Bio-Rad Laboratories by 3.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 134,767 shares of the medical research company’s stock valued at $40,154,000 after buying an additional 4,262 shares in the last quarter. Sector Gamma AS raised its stake in shares of Bio-Rad Laboratories by 28.0% in the 3rd quarter. Sector Gamma AS now owns 22,827 shares of the medical research company’s stock valued at $6,400,000 after acquiring an additional 4,998 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Bio-Rad Laboratories by 54.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 21,580 shares of the medical research company’s stock worth $6,051,000 after purchasing an additional 7,648 shares during the last quarter. GAM Holding AG bought a new stake in Bio-Rad Laboratories during the second quarter worth approximately $724,000. Finally, Boston Trust Walden Corp acquired a new position in Bio-Rad Laboratories during the third quarter valued at approximately $26,763,000. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $256.87 on Tuesday. The firm has a market capitalization of $6.93 billion, a PE ratio of 9.20 and a beta of 1.18. The company has a quick ratio of 4.19, a current ratio of 5.62 and a debt-to-equity ratio of 0.16. Bio-Rad Laboratories, Inc. has a 12-month low of $211.43 and a 12-month high of $343.12. The firm has a 50-day moving average price of $304.44 and a 200 day moving average price of $301.63.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, February 12th. The medical research company reported $2.51 earnings per share for the quarter, missing the consensus estimate of $2.57 by ($0.06). The firm had revenue of $693.20 million for the quarter, compared to the consensus estimate of $694.64 million. Bio-Rad Laboratories had a return on equity of 3.86% and a net margin of 29.42%.Bio-Rad Laboratories’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.90 earnings per share. Research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citigroup upped their price target on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Wells Fargo & Company increased their target price on Bio-Rad Laboratories from $265.00 to $340.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bio-Rad Laboratories in a report on Monday, December 29th. Finally, Wall Street Zen lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Bio-Rad Laboratories currently has a consensus rating of “Hold” and an average target price of $358.50.

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.