Westfield Capital Management Co. LP Increases Stake in Bio-Rad Laboratories, Inc. $BIO

Westfield Capital Management Co. LP grew its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,107 shares of the medical research company’s stock after purchasing an additional 9,583 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.61% of Bio-Rad Laboratories worth $50,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. First Eagle Investment Management LLC boosted its position in shares of Bio-Rad Laboratories by 2.0% in the fourth quarter. First Eagle Investment Management LLC now owns 2,570,473 shares of the medical research company’s stock worth $778,828,000 after purchasing an additional 50,154 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Bio-Rad Laboratories by 6.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,062,938 shares of the medical research company’s stock worth $298,019,000 after purchasing an additional 63,370 shares during the period. Earnest Partners LLC boosted its position in shares of Bio-Rad Laboratories by 0.6% in the third quarter. Earnest Partners LLC now owns 609,284 shares of the medical research company’s stock worth $170,837,000 after purchasing an additional 3,398 shares during the period. Bank of America Corp DE boosted its position in shares of Bio-Rad Laboratories by 1.7% in the third quarter. Bank of America Corp DE now owns 459,887 shares of the medical research company’s stock worth $128,948,000 after purchasing an additional 7,754 shares during the period. Finally, Capital Research Global Investors bought a new position in shares of Bio-Rad Laboratories in the third quarter worth approximately $117,303,000. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BIO. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $375.00 to $300.00 in a research report on Tuesday, April 7th. Wall Street Zen lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Wells Fargo & Company dropped their target price on shares of 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. Royal Bank Of Canada initiated coverage on shares of Bio-Rad Laboratories in a research report on Friday, May 15th. They set an “outperform” rating and a $320.00 target price for the company. Finally, Weiss Ratings lowered shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $303.33.

Bio-Rad Laboratories Price Performance

BIO stock opened at $294.01 on Friday. Bio-Rad Laboratories, Inc. has a 52 week low of $219.42 and a 52 week high of $343.12. The company has a quick ratio of 2.37, a current ratio of 3.21 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $282.12 and a two-hundred day simple moving average of $291.70. The firm has a market capitalization of $7.87 billion, a P/E ratio of 48.44 and a beta of 1.08.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.08). Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The business had revenue of $592.10 million for the quarter, compared to the consensus estimate of $589.91 million. During the same quarter last year, the business earned $2.54 EPS. Bio-Rad Laboratories’s revenue for the quarter was up 1.1% compared to the same quarter last year. Analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.42 earnings per share for the current fiscal 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.