Assenagon Asset Management S.A. Takes $1.08 Million Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Assenagon Asset Management S.A. acquired a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,425 shares of the medical research company’s stock, valued at approximately $1,078,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC increased its position in shares of Bio-Rad Laboratories by 2,175.0% during the fourth quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 87 shares during the period. GeoWealth Management LLC increased its position in shares of Bio-Rad Laboratories by 342.9% during the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 72 shares during the period. Picton Mahoney Asset Management increased its position in shares of Bio-Rad Laboratories by 55.6% during the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 35 shares during the period. Curat Global LLC bought a new stake in shares of Bio-Rad Laboratories during the first quarter valued at approximately $34,000. Finally, Cape Investment Advisory Inc. bought a new stake in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $38,000. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Price Performance

Shares of BIO stock opened at $231.68 on Thursday. The stock’s fifty day moving average is $235.93 and its 200-day moving average is $279.87. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.43 and a current ratio of 5.99. The stock has a market capitalization of $6.30 billion, a PE ratio of -3.04 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Thursday, May 1st. The medical research company reported $2.54 EPS for the quarter, topping the consensus estimate of $1.73 by $0.81. The company had revenue of $585.40 million for the quarter, compared to analysts’ expectations of $573.01 million. Bio-Rad Laboratories had a positive return on equity of 4.32% and a negative net margin of 85.16%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.30 earnings per share. Equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Royal Bank Of Canada lowered their price target on Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company lowered their price target on Bio-Rad Laboratories from $260.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Monday, June 9th. UBS Group lowered their price target on Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Citigroup lowered their price target on Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, Wall Street Zen cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Sunday, June 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Bio-Rad Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $324.25.

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. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.