Segall Bryant & Hamill LLC cut its stake in shares of Bio-Rad Laboratories (NYSE:BIO) by 17.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,924 shares of the medical research company’s stock after selling 6,229 shares during the period. Segall Bryant & Hamill LLC’s holdings in Bio-Rad Laboratories were worth $6,903,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can grew its stake in shares of Bio-Rad Laboratories by 12.8% during the fourth quarter. Bank of Montreal Can now owns 18,201 shares of the medical research company’s stock worth $4,343,000 after purchasing an additional 2,061 shares during the period. Candriam Luxembourg S.C.A. bought a new position in Bio-Rad Laboratories during the fourth quarter worth about $2,029,000. Magnetar Financial LLC lifted its holdings in Bio-Rad Laboratories by 40.7% during the third quarter. Magnetar Financial LLC now owns 5,799 shares of the medical research company’s stock worth $1,289,000 after acquiring an additional 1,676 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Bio-Rad Laboratories by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 30,855 shares of the medical research company’s stock worth $6,861,000 after acquiring an additional 5,823 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Bio-Rad Laboratories by 8.4% during the third quarter. Janus Henderson Group PLC now owns 36,310 shares of the medical research company’s stock worth $8,069,000 after acquiring an additional 2,800 shares in the last quarter. 64.52% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on BIO shares. Zacks Investment Research upgraded Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $291.00 target price on the stock in a report on Wednesday, December 13th. CL King lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating in a report on Friday, February 16th. Jefferies Group boosted their price target on Bio-Rad Laboratories to $325.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Citigroup boosted their price target on Bio-Rad Laboratories to $325.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Finally, Wells Fargo restated an “outperform” rating and issued a $290.00 price target (up from $250.00) on shares of Bio-Rad Laboratories in a report on Wednesday, November 29th. One 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 $297.20.
Shares of BIO stock opened at $262.64 on Wednesday. The stock has a market capitalization of $7,805.94, a PE ratio of 77.14, a P/E/G ratio of 2.24 and a beta of 0.89. The company has a current ratio of 3.93, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15. Bio-Rad Laboratories has a twelve month low of $194.75 and a twelve month high of $279.59.
Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Tuesday, February 27th. The medical research company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.22. The firm had revenue of $620.43 million for the quarter, compared to the consensus estimate of $618.89 million. Bio-Rad Laboratories had a return on equity of 3.63% and a net margin of 5.31%. analysts expect that Bio-Rad Laboratories will post 5.86 EPS for the current fiscal year.
Bio-Rad Laboratories declared that its Board of Directors has authorized a share repurchase program 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 reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Bio-Rad Laboratories Profile
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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