HighTower Advisors LLC Has $2.51 Million Stake in Bio-Rad Laboratories, Inc. $BIO

HighTower Advisors LLC raised its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 38.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,938 shares of the medical research company’s stock after acquiring an additional 2,460 shares during the period. HighTower Advisors LLC’s holdings in Bio-Rad Laboratories were worth $2,506,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Quent Capital LLC purchased a new position in shares of Bio-Rad Laboratories during the third quarter valued at $25,000. Farther Finance Advisors LLC grew its stake in Bio-Rad Laboratories by 52.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 36 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of 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 valued at $34,000 after purchasing an additional 76 shares during the period. CWM LLC lifted its position in shares of Bio-Rad Laboratories by 82.0% in the third quarter. CWM LLC now owns 202 shares of the medical research company’s stock worth $57,000 after purchasing an additional 91 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Bio-Rad Laboratories by 24.0% during the third quarter. UMB Bank n.a. now owns 207 shares of the medical research company’s stock worth $58,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Up 1.3%

BIO stock opened at $278.69 on Friday. The firm has a market cap of $7.52 billion, a PE ratio of 9.99 and a beta of 1.18. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $343.12. The company has a fifty day simple moving average of $298.16 and a 200 day simple moving average of $301.26. The company has a current ratio of 5.62, a quick ratio of 4.19 and a debt-to-equity ratio of 0.16.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, February 12th. The medical research company reported $2.51 earnings per share for the quarter, missing the consensus estimate of $2.57 by ($0.06). Bio-Rad Laboratories had a net margin of 29.42% and a return on equity of 3.86%. The company had revenue of $693.20 million for the quarter, compared to the consensus estimate of $694.64 million. Bio-Rad Laboratories’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business earned $2.90 earnings per share. Sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BIO has been the topic of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Bio-Rad Laboratories presently has an average rating of “Hold” and a consensus target price of $358.50.

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.