Bio-Rad Laboratories, Inc. $BIO Stock Holdings Increased by Hound Partners LLC

Hound Partners LLC lifted its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 125.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,724 shares of the medical research company’s stock after purchasing an additional 54,456 shares during the period. Bio-Rad Laboratories comprises about 3.4% of Hound Partners LLC’s holdings, making the stock its 9th largest holding. Hound Partners LLC’s holdings in Bio-Rad Laboratories were worth $27,241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BIO. Exchange Traded Concepts LLC raised its position in Bio-Rad Laboratories by 37.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 29,592 shares of the medical research company’s stock valued at $8,966,000 after purchasing an additional 8,012 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Bio-Rad Laboratories by 195.6% during the fourth quarter. SG Americas Securities LLC now owns 18,958 shares of the medical research company’s stock worth $5,744,000 after buying an additional 12,544 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Bio-Rad Laboratories by 4,534.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 399,207 shares of the medical research company’s stock worth $120,956,000 after buying an additional 390,593 shares in the last quarter. Assetmark Inc. increased its stake in shares of Bio-Rad Laboratories by 19.0% during the first quarter. Assetmark Inc. now owns 38,989 shares of the medical research company’s stock worth $10,868,000 after buying an additional 6,224 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth approximately $672,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Royal Bank Of Canada initiated coverage on shares of Bio-Rad Laboratories in a research report on Friday, May 15th. They issued an “outperform” rating and a $320.00 price objective on the stock. 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 lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $375.00 to $300.00 in a report on Tuesday, April 7th. Finally, Weiss Ratings cut shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $303.33.

Bio-Rad Laboratories Trading Down 0.2%

BIO opened at $313.78 on Monday. 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 $236.73 and a one year high of $343.12. The company has a market cap of $8.40 billion, a P/E ratio of 51.69 and a beta of 1.08. The business’s 50-day simple moving average is $295.31 and its 200-day simple moving average is $287.51.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 3.56% and a net margin of 6.52%.Bio-Rad Laboratories’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.54 EPS. As a group, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 9.42 EPS 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.