Point72 Asset Management L.P. decreased its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 74.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,842 shares of the medical research company’s stock after selling 103,441 shares during the quarter. Point72 Asset Management L.P. owned about 0.12% of Bio-Rad Laboratories worth $12,893,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. State Street Corp increased its position in shares of Bio-Rad Laboratories by 31.1% in the 4th quarter. State Street Corp now owns 656,853 shares of the medical research company’s stock valued at $243,055,000 after acquiring an additional 156,001 shares during the period. FMR LLC increased its holdings in shares of Bio-Rad Laboratories by 30.3% in the fourth quarter. FMR LLC now owns 644,084 shares of the medical research company’s stock valued at $238,330,000 after purchasing an additional 149,842 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Bio-Rad Laboratories by 11.8% in the fourth quarter. Westfield Capital Management Co. LP now owns 460,629 shares of the medical research company’s stock valued at $170,447,000 after purchasing an additional 48,717 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Bio-Rad Laboratories by 5.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 441,342 shares of the medical research company’s stock worth $163,310,000 after purchasing an additional 22,837 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Bio-Rad Laboratories by 75.3% in the fourth quarter. AQR Capital Management LLC now owns 319,842 shares of the medical research company’s stock worth $118,351,000 after purchasing an additional 137,361 shares during the last quarter. Institutional investors and hedge funds own 63.32% of the company’s stock.
BIO has been the topic of a number of recent research reports. Barclays dropped their target price on Bio-Rad Laboratories from $435.00 to $430.00 and set an “overweight” rating on the stock in a research report on Thursday. Wells Fargo & Co increased their price target on shares of Bio-Rad Laboratories from $430.00 to $440.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Citigroup reduced their price target on shares of Bio-Rad Laboratories from $450.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, March 20th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Bio-Rad Laboratories currently has an average rating of “Buy” and an average target price of $414.00.
Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.44 by ($0.12). Bio-Rad Laboratories had a net margin of 76.08% and a return on equity of 4.06%. The company had revenue of $624.43 million for the quarter, compared to analysts’ expectations of $636.50 million. As a group, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 8.35 EPS for the current fiscal year.
About Bio-Rad Laboratories
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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