Arrowpoint Investment Partners Singapore Pte. Ltd. Invests $572,000 in Bio-Rad Laboratories, Inc. $BIO

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,888 shares of the medical research company’s stock, valued at approximately $572,000.

Several other hedge funds have also recently bought and sold shares of the business. First Eagle Investment Management LLC increased its position in Bio-Rad Laboratories by 2.0% during the fourth quarter. First Eagle Investment Management LLC now owns 2,570,473 shares of the medical research company’s stock worth $778,828,000 after buying an additional 50,154 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Bio-Rad Laboratories by 6.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,062,938 shares of the medical research company’s stock worth $298,019,000 after buying an additional 63,370 shares during the last quarter. Earnest Partners LLC increased its position in Bio-Rad Laboratories by 0.6% during the third quarter. Earnest Partners LLC now owns 609,284 shares of the medical research company’s stock worth $170,837,000 after buying an additional 3,398 shares during the last quarter. Bank of America Corp DE increased its position in Bio-Rad Laboratories by 1.7% during the third quarter. Bank of America Corp DE now owns 459,887 shares of the medical research company’s stock worth $128,948,000 after buying an additional 7,754 shares during the last quarter. Finally, Capital Research Global Investors acquired a new position in Bio-Rad Laboratories during the third quarter worth $117,303,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Trading Up 0.8%

Shares of NYSE:BIO opened at $307.39 on Friday. The company has a market cap of $8.23 billion, a P/E ratio of 50.64 and a beta of 1.08. The stock’s 50-day moving average is $281.70 and its 200-day moving average is $291.68. Bio-Rad Laboratories, Inc. has a 52-week low of $218.14 and a 52-week high of $343.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.37 and a current ratio of 3.21.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.08). The business had revenue of $592.10 million during the quarter, compared to analyst estimates of $589.91 million. Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.54 earnings per share. Equities research analysts predict that Bio-Rad Laboratories, Inc. will post 9.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $375.00 to $300.00 in a research report on Tuesday, April 7th. Wall Street Zen downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Wells Fargo & Company lowered their target price on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Royal Bank Of Canada assumed coverage on shares of Bio-Rad Laboratories in a research report on Friday, May 15th. They set an “outperform” rating and a $320.00 target price on the stock. Finally, Weiss Ratings downgraded Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $303.33.

About Bio-Rad Laboratories

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.