Pictet Asset Management Ltd. purchased a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 37,672 shares of the medical research company’s stock, valued at approximately $11,791,000. Pictet Asset Management Ltd. owned approximately 0.13% of Bio-Rad Laboratories at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIO. Shell Asset Management Co. lifted its stake in Bio-Rad Laboratories by 202.9% in the 3rd quarter. Shell Asset Management Co. now owns 4,120 shares of the medical research company’s stock valued at $1,290,000 after buying an additional 2,760 shares in the last quarter. Alambic Investment Management L.P. purchased a new position in Bio-Rad Laboratories in the 3rd quarter valued at about $718,000. Credit Suisse AG lifted its stake in Bio-Rad Laboratories by 4.0% in the 3rd quarter. Credit Suisse AG now owns 24,567 shares of the medical research company’s stock valued at $7,690,000 after buying an additional 934 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Bio-Rad Laboratories by 34.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 125,900 shares of the medical research company’s stock valued at $39,405,000 after buying an additional 32,100 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in Bio-Rad Laboratories in the 3rd quarter valued at about $614,000. 62.37% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. Barclays decreased their price target on shares of Bio-Rad Laboratories from $345.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Friday, November 2nd. Zacks Investment Research lowered shares of Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a research note on Monday, November 12th. Morgan Stanley started coverage on shares of Bio-Rad Laboratories in a research note on Thursday, September 20th. They issued an “equal weight” rating and a $335.00 target price on the stock. Goldman Sachs Group started coverage on shares of Bio-Rad Laboratories in a research note on Wednesday, October 17th. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $420.00 target price on shares of Bio-Rad Laboratories in a research note on Monday, September 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $338.43.
BIO opened at $262.98 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.16 and a current ratio of 4.49. Bio-Rad Laboratories, Inc. has a 1-year low of $231.00 and a 1-year high of $345.15. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 64.14, a price-to-earnings-growth ratio of 3.24 and a beta of 1.09.
Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, November 1st. The medical research company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.25). Bio-Rad Laboratories had a return on equity of 3.72% and a net margin of 55.13%. The business had revenue of $545.10 million during the quarter, compared to analysts’ expectations of $541.23 million. During the same period last year, the business earned $0.91 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 5.47 EPS for the current fiscal year.
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Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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