Bio-Rad Laboratories, Inc. $BIO Stake Cut by Moore Capital Management LP

Moore Capital Management LP cut its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 9.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 50,000 shares of the medical research company’s stock after selling 5,000 shares during the period. Moore Capital Management LP’s holdings in Bio-Rad Laboratories were worth $15,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. AYAL Capital Advisors Ltd lifted its stake in Bio-Rad Laboratories by 14.3% in the fourth quarter. AYAL Capital Advisors Ltd now owns 20,000 shares of the medical research company’s stock valued at $6,060,000 after buying an additional 2,500 shares during the last quarter. Align Financial LLC bought a new stake in Bio-Rad Laboratories in the fourth quarter valued at $3,030,000. Freestone Grove Partners LP bought a new stake in Bio-Rad Laboratories in the fourth quarter valued at $33,488,000. AQR Capital Management LLC lifted its stake in Bio-Rad Laboratories by 25.7% in the fourth quarter. AQR Capital Management LLC now owns 40,195 shares of the medical research company’s stock valued at $12,179,000 after buying an additional 8,224 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Bio-Rad Laboratories by 1.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 76,271 shares of the medical research company’s stock valued at $23,110,000 after buying an additional 794 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BIO has been the topic of a number of recent research reports. Royal Bank Of Canada initiated coverage on Bio-Rad Laboratories in a research note on Friday, May 15th. They issued an “outperform” rating and a $320.00 target price on the stock. 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 note on Friday, May 1st. Weiss Ratings cut Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Finally, Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their target price for the company from $375.00 to $300.00 in a research note on Tuesday, April 7th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $303.33.

Bio-Rad Laboratories Price Performance

Shares of BIO opened at $284.77 on Thursday. The firm has a market capitalization of $7.62 billion, a price-to-earnings ratio of 46.91 and a beta of 1.08. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.37 and a current ratio of 3.21. Bio-Rad Laboratories, Inc. has a one year low of $228.40 and a one year high of $343.12. The stock’s fifty day moving average is $284.41 and its 200-day moving average is $290.07.

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

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.