Quantedge Capital Pte Ltd Sells 7,200 Shares of Bio-Rad Laboratories, Inc. $BIO

Quantedge Capital Pte Ltd reduced its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 50.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,940 shares of the medical research company’s stock after selling 7,200 shares during the quarter. Bio-Rad Laboratories comprises 1.1% of Quantedge Capital Pte Ltd’s holdings, making the stock its 22nd largest holding. Quantedge Capital Pte Ltd’s holdings in Bio-Rad Laboratories were worth $1,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its holdings 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 worth $120,956,000 after purchasing an additional 390,593 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Bio-Rad Laboratories by 2,271.3% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 397,171 shares of the medical research company’s stock worth $111,363,000 after purchasing an additional 380,422 shares during the period. Boston Partners bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter valued at $75,037,000. Assenagon Asset Management S.A. boosted its stake in shares of Bio-Rad Laboratories by 6,586.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 147,834 shares of the medical research company’s stock valued at $41,209,000 after purchasing an additional 145,623 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth $34,600,000. 65.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BIO. Weiss Ratings lowered shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Royal Bank Of Canada began coverage on Bio-Rad Laboratories in a report on Friday, May 15th. They set an “outperform” rating and a $320.00 price target for the company. Zacks Research lowered Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $375.00 to $300.00 in a research note on Tuesday, April 7th. Finally, Wells Fargo & Company cut their target price on Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Bio-Rad Laboratories presently has an average rating of “Reduce” and an average target price of $303.33.

Bio-Rad Laboratories Stock Performance

Shares of Bio-Rad Laboratories stock opened at $301.26 on Wednesday. Bio-Rad Laboratories, Inc. has a one year low of $236.73 and a one year high of $343.12. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 49.63 and a beta of 1.08. The business has a 50-day simple moving average of $291.32 and a 200 day simple moving average of $287.47. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.21 and a quick ratio of 2.37.

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 analysts’ consensus estimates of $1.97 by ($0.08). Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 6.52%.The firm had revenue of $592.10 million for the quarter, compared to analyst estimates of $589.91 million. During the same period last year, the company posted $2.54 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, research 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.