Magnetar Financial LLC Buys Shares of 10,425 Bio-Rad Laboratories, Inc. $BIO

Magnetar Financial LLC purchased a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the third quarter, Holdings Channel reports. The fund purchased 10,425 shares of the medical research company’s stock, valued at approximately $2,923,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada grew its stake in shares of Bio-Rad Laboratories by 25.2% in the first quarter. Royal Bank of Canada now owns 30,310 shares of the medical research company’s stock valued at $7,382,000 after buying an additional 6,100 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Bio-Rad Laboratories by 45.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 105,006 shares of the medical research company’s stock worth $25,575,000 after acquiring an additional 32,874 shares in the last quarter. Empowered Funds LLC lifted its stake in Bio-Rad Laboratories by 14.8% during the 1st quarter. Empowered Funds LLC now owns 1,547 shares of the medical research company’s stock worth $377,000 after acquiring an additional 199 shares in the last quarter. Jane Street Group LLC boosted its holdings in Bio-Rad Laboratories by 95.3% during the 1st quarter. Jane Street Group LLC now owns 37,383 shares of the medical research company’s stock valued at $9,105,000 after acquiring an additional 18,239 shares during the period. Finally, KBC Group NV boosted its holdings in Bio-Rad Laboratories by 12.7% during the 2nd quarter. KBC Group NV now owns 1,462 shares of the medical research company’s stock valued at $353,000 after acquiring an additional 165 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Bio-Rad Laboratories Stock Performance

Shares of BIO opened at $269.95 on Thursday. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $343.12. The stock has a market capitalization of $7.29 billion, a PE ratio of 9.67 and a beta of 1.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.19 and a current ratio of 5.62. The stock has a 50-day simple moving average of $293.75 and a 200-day simple moving average of $300.72.

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