Robeco Institutional Asset Management B.V. lessened its position in Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Rating) by 57.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,750 shares of the medical research company’s stock after selling 10,514 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Bio-Rad Laboratories were worth $3,231,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in BIO. Veritas Asset Management LLP bought a new position in Bio-Rad Laboratories in the second quarter valued at $379,547,000. AustralianSuper Pty Ltd purchased a new stake in Bio-Rad Laboratories during the second quarter valued at about $191,846,000. Artemis Investment Management LLP boosted its position in Bio-Rad Laboratories by 97.6% during the second quarter. Artemis Investment Management LLP now owns 195,787 shares of the medical research company’s stock valued at $97,034,000 after buying an additional 96,691 shares during the period. Millennium Management LLC boosted its position in Bio-Rad Laboratories by 19.3% during the second quarter. Millennium Management LLC now owns 379,329 shares of the medical research company’s stock valued at $187,768,000 after buying an additional 61,424 shares during the period. Finally, Prudential Financial Inc. boosted its position in Bio-Rad Laboratories by 181.0% during the first quarter. Prudential Financial Inc. now owns 85,053 shares of the medical research company’s stock valued at $47,905,000 after buying an additional 54,789 shares during the period. Institutional investors own 64.35% of the company’s stock.
Analyst Upgrades and Downgrades
BIO has been the subject of several analyst reports. Credit Suisse Group cut their price target on shares of Bio-Rad Laboratories from $715.00 to $640.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. TheStreet lowered shares of Bio-Rad Laboratories from a “c” rating to a “d+” rating in a research report on Thursday, October 27th. Royal Bank of Canada initiated coverage on shares of Bio-Rad Laboratories in a report on Tuesday, December 6th. They set an “outperform” rating and a $565.00 target price for the company. Finally, StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $651.25.
Bio-Rad Laboratories Price Performance
Bio-Rad Laboratories (NYSE:BIO – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The medical research company reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. Bio-Rad Laboratories had a negative net margin of 215.16% and a positive return on equity of 4.13%. The company had revenue of $680.10 million during the quarter, compared to the consensus estimate of $685.50 million. During the same period in the prior year, the firm earned $3.71 earnings per share. Bio-Rad Laboratories’s revenue was down 9.0% on a year-over-year basis. On average, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 14.38 EPS for the current year.
Bio-Rad Laboratories Profile
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.
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