Capital Research Global Investors Acquires 76,117 Shares of Bio-Rad Laboratories, Inc. $BIO

Capital Research Global Investors increased its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 18.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 494,472 shares of the medical research company’s stock after buying an additional 76,117 shares during the period. Capital Research Global Investors owned 1.83% of Bio-Rad Laboratories worth $149,820,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in shares of Bio-Rad Laboratories by 4,534.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 399,207 shares of the medical research company’s stock worth $120,956,000 after acquiring an additional 390,593 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Bio-Rad Laboratories by 2,271.3% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 397,171 shares of the medical research company’s stock valued at $111,363,000 after purchasing an additional 380,422 shares during the last quarter. Mangrove Partners IM LLC acquired a new stake in shares of Bio-Rad Laboratories in the third quarter valued at approximately $35,568,000. Norges Bank acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at approximately $34,600,000. Finally, Scopia Capital Management LP bought a new position in Bio-Rad Laboratories in the 2nd quarter worth approximately $22,862,000. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $291.73 on Tuesday. The stock has a market cap of $7.81 billion, a PE ratio of 48.06 and a beta of 1.08. The stock has a 50-day moving average of $282.42 and a 200-day moving average of $291.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.21 and a quick ratio of 2.37. Bio-Rad Laboratories, Inc. has a one year low of $219.94 and a one year high of $343.12.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, April 30th. The medical research company reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.08). The firm had revenue of $592.10 million for 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 firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.54 EPS. As a group, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 9.42 earnings per share for the current year.

Analysts Set New Price Targets

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

Bio-Rad Laboratories Company 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.