Verition Fund Management LLC Boosts Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Verition Fund Management LLC grew its position in Bio-Rad Laboratories, Inc. (NYSE:BIOGet Rating) by 25.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,266 shares of the medical research company’s stock after purchasing an additional 255 shares during the period. Verition Fund Management LLC’s holdings in Bio-Rad Laboratories were worth $713,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. HM Payson & Co. acquired a new position in Bio-Rad Laboratories during the 1st quarter worth approximately $28,000. Cambridge Trust Co. grew its stake in Bio-Rad Laboratories by 170.0% during the 1st quarter. Cambridge Trust Co. now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 34 shares during the last quarter. Tcwp LLC acquired a new position in Bio-Rad Laboratories during the 1st quarter worth $48,000. Tobam lifted its holdings in shares of Bio-Rad Laboratories by 36.1% in the first quarter. Tobam now owns 98 shares of the medical research company’s stock valued at $55,000 after buying an additional 26 shares during the period. Finally, AGF Investments LLC acquired a new stake in shares of Bio-Rad Laboratories in the first quarter valued at $82,000. 64.33% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Trading Down 2.9 %

Shares of NYSE BIO opened at $418.55 on Friday. Bio-Rad Laboratories, Inc. has a 12 month low of $414.83 and a 12 month high of $804.65. The company has a market cap of $12.43 billion, a price-to-earnings ratio of -6.31 and a beta of 0.99. The company has a quick ratio of 4.22, a current ratio of 5.30 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $506.34 and a 200-day simple moving average of $520.46.

Bio-Rad Laboratories (NYSE:BIOGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The medical research company reported $3.38 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.92. Bio-Rad Laboratories had a positive return on equity of 3.82% and a negative net margin of 67.66%. The firm had revenue of $691.10 million for the quarter, compared to analyst estimates of $664.60 million. During the same period in the previous year, the firm earned $3.54 earnings per share. Bio-Rad Laboratories’s quarterly revenue was down 3.5% on a year-over-year basis. Sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 14.35 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Credit Suisse Group assumed coverage on Bio-Rad Laboratories in a report on Wednesday, August 24th. They issued an “outperform” rating and a $715.00 price objective for the company. Citigroup reduced their target price on Bio-Rad Laboratories from $750.00 to $700.00 and set a “buy” rating for the company in a report on Friday, July 8th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Bio-Rad Laboratories currently has an average rating of “Moderate Buy” and an average target price of $705.00.

Insiders Place Their Bets

In other Bio-Rad Laboratories news, CAO Ajit Ramalingam sold 518 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $537.00, for a total value of $278,166.00. Following the transaction, the chief accounting officer now directly owns 98 shares of the company’s stock, valued at approximately $52,626. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 27.40% of the company’s stock.

Bio-Rad Laboratories Company Profile

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Bio-Rad Laboratories, Inc manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.

See Also

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Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

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