SG Americas Securities LLC Raises Stock Position in Bio-Rad Laboratories, Inc. $BIO

SG Americas Securities LLC boosted its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 253.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,985 shares of the medical research company’s stock after acquiring an additional 48,027 shares during the period. SG Americas Securities LLC owned 0.25% of Bio-Rad Laboratories worth $18,672,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital Research Global Investors acquired a new position in Bio-Rad Laboratories during the third quarter worth $117,303,000. Massachusetts Financial Services Co. MA grew 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 worth $120,956,000 after buying an additional 390,593 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Bio-Rad Laboratories by 2,271.3% in the 3rd 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. Boston Partners purchased a new stake in Bio-Rad Laboratories during the 4th quarter worth about $75,037,000. Finally, Mangrove Partners IM LLC acquired a new position in Bio-Rad Laboratories in the third quarter valued at approximately $35,568,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $298.46 on Friday. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 49.17 and a beta of 1.08. The stock has a 50 day simple moving average of $284.42 and a 200-day simple moving average of $288.48. Bio-Rad Laboratories, Inc. has a 12-month low of $236.73 and a 12-month high of $343.12. 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 posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.08). The business had revenue of $592.10 million during 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 firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.54 earnings per share. On average, equities analysts forecast that Bio-Rad Laboratories, Inc. will post 9.42 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Citigroup lowered 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. Royal Bank Of Canada initiated coverage on shares of 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 shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company reduced 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 research note on Friday, May 1st. One analyst has rated the stock with a Buy rating, three 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 has an average rating of “Hold” and a consensus 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.