Hound Partners LLC Has $43.91 Million Position in Bio-Rad Laboratories, Inc. $BIO

Hound Partners LLC trimmed its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 9.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 181,936 shares of the medical research company’s stock after selling 19,847 shares during the period. Bio-Rad Laboratories comprises approximately 5.9% of Hound Partners LLC’s holdings, making the stock its 7th largest holding. Hound Partners LLC owned about 0.67% of Bio-Rad Laboratories worth $43,905,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Boothbay Fund Management LLC acquired a new stake in Bio-Rad Laboratories in the second quarter worth about $1,664,000. Brevan Howard Capital Management LP acquired a new position in Bio-Rad Laboratories during the second quarter valued at approximately $5,264,000. Bank of America Corp DE raised its holdings in Bio-Rad Laboratories by 5.0% in the second quarter. Bank of America Corp DE now owns 452,133 shares of the medical research company’s stock worth $109,109,000 after purchasing an additional 21,594 shares during the period. AQR Capital Management LLC boosted its position in shares of Bio-Rad Laboratories by 51.7% during the second quarter. AQR Capital Management LLC now owns 28,189 shares of the medical research company’s stock worth $6,803,000 after purchasing an additional 9,610 shares in the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of Bio-Rad Laboratories in the 2nd quarter valued at $483,000. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

Shares of BIO opened at $308.05 on Friday. The company has a current ratio of 5.44, a quick ratio of 3.94 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a 12 month low of $211.43 and a 12 month high of $373.69. The firm has a fifty day simple moving average of $315.47 and a 200 day simple moving average of $280.59. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of -12.67 and a beta of 1.18.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Wednesday, October 29th. The medical research company reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.04). The company had revenue of $653.00 million during the quarter, compared to the consensus estimate of $651.30 million. Bio-Rad Laboratories had a negative net margin of 26.43% and a positive return on equity of 4.19%. Bio-Rad Laboratories’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.01 EPS. Research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Insider Buying and Selling at Bio-Rad Laboratories

In other news, EVP James Barry sold 700 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $306.18, for a total transaction of $214,326.00. Following the sale, the executive vice president owned 510 shares in the company, valued at $156,151.80. This represents a 57.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 17.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on BIO shares. Wall Street Zen downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Citigroup raised their price target on Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Zacks Research upgraded Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Wells Fargo & Company raised their target price on shares of Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a report on Monday. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $358.50.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.