CenterBook Partners LP Has $927,000 Holdings in Bio-Rad Laboratories, Inc. $BIO

CenterBook Partners LP cut its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 66.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,058 shares of the medical research company’s stock after selling 6,071 shares during the quarter. CenterBook Partners LP’s holdings in Bio-Rad Laboratories were worth $927,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital Research Global Investors acquired a new stake in Bio-Rad Laboratories in the third quarter valued at approximately $117,303,000. Massachusetts Financial Services Co. MA boosted its position in shares of Bio-Rad Laboratories by 4,534.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 399,207 shares of the medical research company’s stock valued at $120,956,000 after buying an additional 390,593 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 buying an additional 380,422 shares during the last quarter. Mangrove Partners IM LLC bought a new stake in Bio-Rad Laboratories during the third quarter worth $35,568,000. Finally, Norges Bank purchased a new position in Bio-Rad Laboratories in the fourth quarter worth $34,600,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Bio-Rad Laboratories Price Performance

BIO opened at $291.63 on Thursday. The stock has a market capitalization of $7.80 billion, a P/E ratio of 48.04 and a beta of 1.08. Bio-Rad Laboratories, Inc. has a 12-month low of $222.80 and a 12-month high of $343.12. The stock has a 50-day moving average price of $283.48 and a 200-day moving average price of $291.36. The company has a current ratio of 3.21, a quick ratio of 2.37 and a debt-to-equity ratio of 0.12.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($0.08). The company had revenue of $592.10 million for the quarter, compared to analysts’ expectations 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 was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.54 earnings per share. Equities analysts predict that Bio-Rad Laboratories, Inc. will post 9.42 earnings per share for the current fiscal year.

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.