Two Sigma Investments LP lifted its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 64.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,915 shares of the medical research company’s stock after buying an additional 33,199 shares during the quarter. Two Sigma Investments LP owned approximately 0.29% of Bio-Rad Laboratories worth $20,267,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of BIO. Tower Research Capital LLC TRC grew its holdings in shares of Bio-Rad Laboratories by 297.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 560 shares of the medical research company’s stock worth $134,000 after buying an additional 419 shares in the last quarter. Timber Hill LLC purchased a new stake in shares of Bio-Rad Laboratories during the third quarter worth about $214,000. Private Advisor Group LLC purchased a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth about $248,000. Macquarie Group Ltd. purchased a new stake in shares of Bio-Rad Laboratories during the third quarter worth about $255,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Bio-Rad Laboratories by 42.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,165 shares of the medical research company’s stock worth $278,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 64.51% of the company’s stock.
BIO has been the subject of a number of recent analyst reports. Jefferies Group boosted their target price on shares of Bio-Rad Laboratories to $325.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Citigroup boosted their target price on shares of Bio-Rad Laboratories to $325.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. CL King downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating in a report on Friday, February 16th. Wells Fargo & Co lowered their target price on shares of Bio-Rad Laboratories from $290.00 to $280.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Finally, Zacks Investment Research upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $291.00 target price for the company in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $295.20.
Shares of Bio-Rad Laboratories, Inc. (NYSE BIO) opened at $268.58 on Friday. Bio-Rad Laboratories, Inc. has a twelve month low of $194.01 and a twelve month high of $279.59. The stock has a market cap of $8,018.15, a P/E ratio of 79.24, a P/E/G ratio of 2.30 and a beta of 0.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.93 and a quick ratio of 2.75.
Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Tuesday, February 27th. The medical research company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.22. Bio-Rad Laboratories had a net margin of 5.31% and a return on equity of 3.63%. The firm had revenue of $620.43 million during the quarter, compared to the consensus estimate of $618.89 million. equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 5.86 EPS for the current year.
Bio-Rad Laboratories declared that its Board of Directors has authorized a share repurchase plan on Tuesday, November 28th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the medical research company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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