Quadrature Capital Ltd Boosts Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Quadrature Capital Ltd boosted its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 87.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 23,820 shares of the medical research company’s stock after acquiring an additional 11,135 shares during the period. Quadrature Capital Ltd’s holdings in Bio-Rad Laboratories were worth $7,699,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Bio-Rad Laboratories in the 4th quarter valued at about $73,142,000. Deerfield Management Company L.P. Series C purchased a new position in Bio-Rad Laboratories in the third quarter valued at about $62,351,000. Earnest Partners LLC grew its stake in Bio-Rad Laboratories by 25.6% during the 3rd quarter. Earnest Partners LLC now owns 351,510 shares of the medical research company’s stock valued at $125,999,000 after purchasing an additional 71,570 shares in the last quarter. QVIDTVM Management LLC purchased a new stake in Bio-Rad Laboratories during the 3rd quarter worth approximately $24,794,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Bio-Rad Laboratories by 303.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 73,610 shares of the medical research company’s stock valued at $23,768,000 after purchasing an additional 55,369 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

BIO traded down $1.98 on Friday, hitting $287.02. 210,323 shares of the company’s stock were exchanged, compared to its average volume of 201,676. The company has a current ratio of 6.57, a quick ratio of 4.89 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $293.04 and a two-hundred day moving average of $312.92. Bio-Rad Laboratories, Inc. has a twelve month low of $261.59 and a twelve month high of $431.79. The firm has a market cap of $8.19 billion, a PE ratio of -27.70 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Tuesday, May 7th. The medical research company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.25. The business had revenue of $610.82 million for the quarter, compared to analysts’ expectations of $619.09 million. Bio-Rad Laboratories had a positive return on equity of 3.59% and a negative net margin of 12.37%. The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.34 EPS. On average, research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BIO. UBS Group decreased their price target on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Royal Bank of Canada decreased their price objective on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating for the company in a report on Friday, February 16th. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Tuesday, May 28th. Jefferies Financial Group reiterated a “hold” rating and issued a $315.00 price target (down from $440.00) on shares of Bio-Rad Laboratories in a research note on Monday, June 3rd. Finally, Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $400.00 to $365.00 in a report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Bio-Rad Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $436.67.

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.