Bio-Rad Laboratories, Inc. $BIO Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 1.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,089,323 shares of the medical research company’s stock after buying an additional 12,251 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Bio-Rad Laboratories were worth $303,637,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BIO. Royal Bank of Canada raised its position in shares of Bio-Rad Laboratories by 25.2% in the 1st quarter. Royal Bank of Canada now owns 30,310 shares of the medical research company’s stock valued at $7,382,000 after purchasing an additional 6,100 shares during the last quarter. Goldman Sachs Group Inc. increased 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 valued at $25,575,000 after purchasing an additional 32,874 shares in the last quarter. Empowered Funds LLC increased 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 valued at $377,000 after purchasing an additional 199 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Bio-Rad Laboratories by 95.3% in the first quarter. Jane Street Group LLC now owns 37,383 shares of the medical research company’s stock worth $9,105,000 after buying an additional 18,239 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of Bio-Rad Laboratories by 13.5% during the second quarter. Cetera Investment Advisers now owns 2,192 shares of the medical research company’s stock worth $529,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

NYSE:BIO opened at $305.97 on Thursday. The stock has a market capitalization of $8.19 billion, a PE ratio of 50.41 and a beta of 1.08. Bio-Rad Laboratories, Inc. has a 52 week low of $236.73 and a 52 week high of $343.12. The stock’s 50-day moving average price is $292.57 and its 200-day moving average price is $287.48. The company has a quick ratio of 2.37, a current ratio of 3.21 and a debt-to-equity ratio of 0.12.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share (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 analysts’ expectations of $589.91 million. Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business earned $2.54 EPS. As a group, equities analysts expect that Bio-Rad Laboratories, Inc. will post 9.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

About Bio-Rad Laboratories

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.