Assetmark Inc. Acquires 6,224 Shares of Bio-Rad Laboratories, Inc. $BIO

Assetmark Inc. lifted its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 19.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,989 shares of the medical research company’s stock after buying an additional 6,224 shares during the period. Assetmark Inc.’s holdings in Bio-Rad Laboratories were worth $10,868,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Danske Bank A S purchased a new position in Bio-Rad Laboratories in the 4th quarter worth about $30,000. Geneos Wealth Management Inc. grew its position in Bio-Rad Laboratories by 115.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock worth $34,000 after purchasing an additional 76 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Bio-Rad Laboratories in the 4th quarter worth $47,000. Farther Finance Advisors LLC boosted its stake in shares of Bio-Rad Laboratories by 76.9% in the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the medical research company’s stock worth $56,000 after buying an additional 80 shares during the last quarter. Finally, Itau Unibanco Holding S.A. grew its holdings in shares of Bio-Rad Laboratories by 57.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 197 shares of the medical research company’s stock worth $60,000 after acquiring an additional 72 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company reduced their price objective on Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Zacks Research cut shares of Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. 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. Royal Bank Of Canada initiated coverage on Bio-Rad Laboratories in a research note on Friday, May 15th. They issued an “outperform” rating and a $320.00 price objective for the company. Finally, Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their target price 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, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $303.33.

Bio-Rad Laboratories Price Performance

Shares of NYSE:BIO opened at $301.93 on Tuesday. The company has a market capitalization of $8.08 billion, a P/E ratio of 49.74 and a beta of 1.08. Bio-Rad Laboratories, Inc. has a 1-year low of $236.73 and a 1-year high of $343.12. The firm’s 50 day simple moving average is $290.13 and its two-hundred day simple moving average is $287.48. 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 (NYSE:BIO) last announced 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 during the quarter, compared to analysts’ expectations 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 for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the company earned $2.54 earnings per share. Research analysts expect that Bio-Rad Laboratories, Inc. will post 9.42 EPS for the current fiscal year.

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.