DnB Asset Management AS Raises Stock Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

DnB Asset Management AS grew its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 8.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,440 shares of the medical research company’s stock after acquiring an additional 279 shares during the quarter. DnB Asset Management AS’s holdings in Bio-Rad Laboratories were worth $1,130,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Venturi Wealth Management LLC boosted its stake in Bio-Rad Laboratories by 2,175.0% during the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock worth $30,000 after purchasing an additional 87 shares during the period. Picton Mahoney Asset Management boosted its stake 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 worth $32,000 after buying an additional 35 shares during the period. Asset Planning Inc acquired a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth about $33,000. UMB Bank n.a. grew its holdings in shares of Bio-Rad Laboratories by 41.6% during the fourth quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock worth $36,000 after buying an additional 32 shares during the last quarter. Finally, Cape Investment Advisory Inc. acquired a new position in Bio-Rad Laboratories in the 4th quarter valued at about $38,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Down 1.5 %

Bio-Rad Laboratories stock opened at $239.97 on Wednesday. The stock’s 50 day moving average price is $289.28 and its 200 day moving average price is $321.35. Bio-Rad Laboratories, Inc. has a 1-year low of $235.84 and a 1-year high of $387.99. The company has a market cap of $6.72 billion, a PE ratio of -3.69 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. On average, sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on BIO. Wells Fargo & Company lowered their target price on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $481.00 price objective on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Three investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $395.20.

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.