Entropy Technologies LP Sells 2,033 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Entropy Technologies LP trimmed its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 48.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,167 shares of the medical research company’s stock after selling 2,033 shares during the period. Entropy Technologies LP’s holdings in Bio-Rad Laboratories were worth $712,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in Bio-Rad Laboratories by 97.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock valued at $436,861,000 after buying an additional 644,530 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Bio-Rad Laboratories during the third quarter valued at $83,681,000. Wedge Capital Management L L P NC purchased a new stake in Bio-Rad Laboratories during the fourth quarter valued at $28,740,000. Mawer Investment Management Ltd. lifted its holdings in Bio-Rad Laboratories by 63.0% in the third quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company’s stock valued at $72,900,000 after acquiring an additional 84,237 shares during the period. Finally, DAVENPORT & Co LLC boosted its position in Bio-Rad Laboratories by 48.8% in the fourth quarter. DAVENPORT & Co LLC now owns 84,677 shares of the medical research company’s stock worth $27,817,000 after purchasing an additional 27,780 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

NYSE BIO opened at $314.82 on Wednesday. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of -11.52 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a 12 month low of $262.12 and a 12 month high of $387.99. The company’s 50 day moving average is $340.56 and its two-hundred day moving average is $336.91. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16.

Wall Street Analyst Weigh In

BIO has been the subject of several research reports. Citigroup upped their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $481.00 price target on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Finally, StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Bio-Rad Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $394.20.

Bio-Rad Laboratories Company 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.