Portolan Capital Management LLC Has $13.02 Million Stock Position in Bio-Rad Laboratories, Inc. $BIO

Portolan Capital Management LLC reduced its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 26.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,440 shares of the medical research company’s stock after selling 16,344 shares during the period. Portolan Capital Management LLC owned about 0.17% of Bio-Rad Laboratories worth $13,021,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in Bio-Rad Laboratories by 52.9% during the third quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock worth $29,000 after buying an additional 36 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Bio-Rad Laboratories by 24.0% in the 3rd quarter. UMB Bank n.a. now owns 207 shares of the medical research company’s stock valued at $58,000 after acquiring an additional 40 shares during the last quarter. Frank Rimerman Advisors LLC raised its position in shares of Bio-Rad Laboratories by 3.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 1,806 shares of the medical research company’s stock valued at $436,000 after acquiring an additional 53 shares during the period. OneDigital Investment Advisors LLC boosted its stake in Bio-Rad Laboratories by 1.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,954 shares of the medical research company’s stock worth $828,000 after acquiring an additional 55 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in Bio-Rad Laboratories by 3.7% during the second quarter. M&T Bank Corp now owns 1,855 shares of the medical research company’s stock valued at $447,000 after purchasing an additional 66 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Up 0.4%

NYSE:BIO opened at $262.91 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.62 and a quick ratio of 4.19. The business’s 50-day simple moving average is $292.06 and its 200-day simple moving average is $300.22. Bio-Rad Laboratories, Inc. has a fifty-two week low of $211.43 and a fifty-two week high of $343.12. The stock has a market capitalization of $7.10 billion, a PE ratio of 9.42 and a beta of 1.18.

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

Wall Street Analysts Forecast Growth

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

Bio-Rad Laboratories 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.