Bio-Rad Laboratories, Inc. $BIO Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC lessened its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,083 shares of the medical research company’s stock after selling 6,762 shares during the quarter. GW&K Investment Management LLC owned 0.66% of Bio-Rad Laboratories worth $53,655,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Danske Bank A S purchased a new position in shares of Bio-Rad Laboratories during the 4th quarter worth approximately $30,000. Geneos Wealth Management Inc. increased its holdings in 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 last quarter. Los Angeles Capital Management LLC purchased a new stake in Bio-Rad Laboratories in the fourth quarter valued at approximately $47,000. Farther Finance Advisors LLC raised its position in Bio-Rad Laboratories by 76.9% in the fourth quarter. Farther Finance Advisors LLC now owns 184 shares of the medical research company’s stock valued at $56,000 after purchasing an additional 80 shares during the period. Finally, Financial Management Professionals Inc. acquired a new position in Bio-Rad Laboratories during the fourth quarter worth $61,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings cut Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $375.00 to $300.00 in a research note on Tuesday, April 7th. Wells Fargo & Company lowered their target price on Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Wall Street Zen downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Royal Bank Of Canada assumed coverage on shares of Bio-Rad Laboratories in a research report on Friday, May 15th. They set an “outperform” rating and a $320.00 price target on the stock. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $303.33.

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $297.03 on Wednesday. Bio-Rad Laboratories, Inc. has a 52 week low of $222.80 and a 52 week high of $343.12. The company has a fifty day simple moving average of $283.06 and a two-hundred day simple moving average of $291.45. 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 market cap of $7.95 billion, a price-to-earnings ratio of 48.93 and a beta of 1.08.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, April 30th. The medical research company reported $1.89 earnings per share (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 company had revenue of $592.10 million during the quarter, compared to analyst estimates of $589.91 million. During the same quarter in the previous year, the business posted $2.54 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. As a group, equities 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.