Dimensional Fund Advisors LP Grows Holdings in Bio-Rad Laboratories, Inc. $BIO

Dimensional Fund Advisors LP boosted its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 1.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,089,323 shares of the medical research company’s stock after acquiring an additional 12,251 shares during the period. Dimensional Fund Advisors LP owned 4.04% of Bio-Rad Laboratories worth $303,637,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BIO. Exchange Traded Concepts LLC lifted its position in shares of Bio-Rad Laboratories by 37.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 29,592 shares of the medical research company’s stock valued at $8,966,000 after acquiring an additional 8,012 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Bio-Rad Laboratories by 195.6% during the fourth quarter. SG Americas Securities LLC now owns 18,958 shares of the medical research company’s stock worth $5,744,000 after purchasing an additional 12,544 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Bio-Rad Laboratories by 4,534.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 399,207 shares of the medical research company’s stock valued at $120,956,000 after purchasing an additional 390,593 shares during the period. Virtu Financial LLC bought a new stake in Bio-Rad Laboratories during the 4th quarter valued at approximately $672,000. Finally, Fifth Third Bancorp lifted its holdings in Bio-Rad Laboratories by 91.4% in the 1st quarter. Fifth Third Bancorp now owns 12,932 shares of the medical research company’s stock worth $3,605,000 after purchasing an additional 6,175 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BIO has been the subject of several research reports. Royal Bank Of Canada initiated coverage on shares of Bio-Rad Laboratories in a report on Friday, May 15th. They set an “outperform” rating and a $320.00 price objective for the company. Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their price target for the company from $375.00 to $300.00 in a research note on Tuesday, April 7th. Weiss Ratings downgraded Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Zacks Research cut Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Wells Fargo & Company lowered their target price 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. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $303.33.

Bio-Rad Laboratories Stock Performance

BIO stock opened at $305.97 on Thursday. Bio-Rad Laboratories, Inc. has a twelve month low of $236.73 and a twelve month high of $343.12. The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 50.41 and a beta of 1.08. The business’s fifty day simple moving average is $292.57 and its two-hundred day simple moving average is $287.48. 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 (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 the consensus estimate of $1.97 by ($0.08). The company had revenue of $592.10 million for the quarter, compared to the consensus estimate of $589.91 million. Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.54 EPS. Analysts predict that Bio-Rad Laboratories, Inc. will post 9.42 earnings per share for the current 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.