Bio-Rad Laboratories, Inc. $BIO Shares Purchased by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC boosted its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 388.9% in the 4th quarter, Holdings Channel reports. The firm owned 15,415 shares of the medical research company’s stock after purchasing an additional 12,262 shares during the period. Brandywine Global Investment Management LLC’s holdings in Bio-Rad Laboratories were worth $4,671,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC increased its holdings in Bio-Rad Laboratories by 67.1% in the 3rd quarter. Natixis Advisors LLC now owns 65,069 shares of the medical research company’s stock valued at $18,245,000 after purchasing an additional 26,119 shares during the last quarter. Mangrove Partners IM LLC acquired a new stake in Bio-Rad Laboratories in the 3rd quarter valued at approximately $35,568,000. Gotham Asset Management LLC increased its holdings in Bio-Rad Laboratories by 41.8% in the 3rd quarter. Gotham Asset Management LLC now owns 124,626 shares of the medical research company’s stock valued at $34,944,000 after purchasing an additional 36,763 shares during the last quarter. TD Asset Management Inc increased its holdings in Bio-Rad Laboratories by 461.0% in the 3rd quarter. TD Asset Management Inc now owns 8,988 shares of the medical research company’s stock valued at $2,520,000 after purchasing an additional 7,386 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in Bio-Rad Laboratories by 36.0% in the 3rd quarter. Assetmark Inc. now owns 28,808 shares of the medical research company’s stock valued at $8,077,000 after purchasing an additional 7,633 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

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

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $291.63 on Thursday. The company has a fifty day simple moving average of $283.48 and a two-hundred day simple moving average of $291.36. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 48.04 and a beta of 1.08. The company has a quick ratio of 2.37, a current ratio of 3.21 and a debt-to-equity ratio of 0.12. Bio-Rad Laboratories, Inc. has a 52 week low of $222.80 and a 52 week high of $343.12.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.89 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 return on equity of 3.56% and a net margin of 6.52%.The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.54 EPS. As a group, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.42 earnings per share for the current fiscal year.

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.