OP Asset Management Ltd Makes New $1.83 Million Investment in Bio-Rad Laboratories, Inc. $BIO

OP Asset Management Ltd acquired a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,552 shares of the medical research company’s stock, valued at approximately $1,826,000.

Several other large investors have also recently modified their holdings of BIO. Assenagon Asset Management S.A. lifted its stake in shares of Bio-Rad Laboratories by 6,586.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 147,834 shares of the medical research company’s stock valued at $41,209,000 after acquiring an additional 145,623 shares during the last quarter. SG Americas Securities LLC grew its position in Bio-Rad Laboratories by 253.3% during the 1st quarter. SG Americas Securities LLC now owns 66,985 shares of the medical research company’s stock worth $18,672,000 after acquiring an additional 48,027 shares during the last quarter. Corient Private Wealth LLC increased its stake in Bio-Rad Laboratories by 30.3% in the 4th quarter. Corient Private Wealth LLC now owns 1,864 shares of the medical research company’s stock worth $565,000 after purchasing an additional 434 shares during the period. Rehmann Capital Advisory Group purchased a new position in Bio-Rad Laboratories in the 4th quarter worth approximately $201,000. Finally, Virtu Financial LLC bought a new stake in Bio-Rad Laboratories in the fourth quarter valued at approximately $672,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Down 0.2%

BIO opened at $300.15 on Monday. Bio-Rad Laboratories, Inc. has a one year low of $236.73 and a one year high of $343.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.21 and a quick ratio of 2.37. The business has a 50 day simple moving average of $284.52 and a two-hundred day simple moving average of $288.42. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 49.45 and a beta of 1.08.

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 for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.08). Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 6.52%.The business had revenue of $592.10 million during the quarter, compared to the consensus estimate of $589.91 million. During the same quarter in the prior year, the business posted $2.54 earnings per share. Bio-Rad Laboratories’s quarterly revenue was up 1.1% compared to the same quarter last year. Analysts predict that Bio-Rad Laboratories, Inc. will post 9.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $375.00 to $300.00 in a research note on Tuesday, April 7th. Wells Fargo & Company decreased 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 note on Friday, May 1st. 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. Finally, Royal Bank Of Canada started coverage on shares of Bio-Rad Laboratories in a research report on Friday, May 15th. They set an “outperform” rating and a $320.00 price target for the company. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Bio-Rad Laboratories presently has a consensus 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.