Fisher Asset Management LLC Lowers Stock Position in Bio-Rad Laboratories, Inc. $BIO

Fisher Asset Management LLC trimmed its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 133,465 shares of the medical research company’s stock after selling 4,277 shares during the period. Fisher Asset Management LLC owned about 0.49% of Bio-Rad Laboratories worth $37,422,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. First Eagle Investment Management LLC raised its position in Bio-Rad Laboratories by 60.7% in the second quarter. First Eagle Investment Management LLC now owns 2,517,313 shares of the medical research company’s stock valued at $607,478,000 after purchasing an additional 951,123 shares during the period. Norges Bank purchased a new position in Bio-Rad Laboratories in the 2nd quarter valued at approximately $30,987,000. Ilex Capital Partners UK LLP boosted its holdings in Bio-Rad Laboratories by 1,790.3% in the second quarter. Ilex Capital Partners UK LLP now owns 120,885 shares of the medical research company’s stock valued at $29,172,000 after purchasing an additional 114,490 shares during the period. Boston Trust Walden Corp acquired a new position in shares of Bio-Rad Laboratories during the third quarter worth about $26,763,000. Finally, Scopia Capital Management LP acquired a new position in Bio-Rad Laboratories during the 2nd quarter worth approximately $22,862,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Up 0.4%

BIO stock opened at $280.73 on Wednesday. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 10.06 and a beta of 1.18. The company has a fifty day moving average price of $297.25 and a 200 day moving average price of $301.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.62 and a quick ratio of 4.19. Bio-Rad Laboratories, Inc. has a 12 month low of $211.43 and a 12 month high of $343.12.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, February 12th. The medical research company reported $2.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.57 by ($0.06). Bio-Rad Laboratories had a return on equity of 3.86% and a net margin of 29.42%.The business had revenue of $693.20 million for the quarter, compared to analysts’ expectations of $694.64 million. During the same period in the previous year, the business posted $2.90 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Analyst Ratings Changes

BIO has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research note on Monday, December 29th. Wall Street Zen lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $358.50.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.