ICICI Prudential Asset Management Co Ltd Cuts Position in Bio-Rad Laboratories, Inc. $BIO

ICICI Prudential Asset Management Co Ltd reduced its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 29.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,095 shares of the medical research company’s stock after selling 8,221 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Bio-Rad Laboratories were worth $5,634,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Farther Finance Advisors LLC raised its holdings in Bio-Rad Laboratories by 52.9% in the third quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock valued at $29,000 after buying an additional 36 shares during the period. UMB Bank n.a. raised its stake in shares of Bio-Rad Laboratories by 24.0% in the 3rd quarter. UMB Bank n.a. now owns 207 shares of the medical research company’s stock valued at $58,000 after acquiring an additional 40 shares during the period. Frank Rimerman Advisors LLC lifted its holdings in shares of Bio-Rad Laboratories by 3.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 1,806 shares of the medical research company’s stock valued at $436,000 after acquiring an additional 53 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Bio-Rad Laboratories by 1.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,871 shares of the medical research company’s stock valued at $693,000 after acquiring an additional 54 shares in the last quarter. Finally, M&T Bank Corp boosted its position in Bio-Rad Laboratories by 3.7% during the 2nd quarter. M&T Bank Corp now owns 1,855 shares of the medical research company’s stock worth $447,000 after purchasing an additional 66 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $271.79 on Friday. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $343.12. The company has a current ratio of 5.62, a quick ratio of 4.19 and a debt-to-equity ratio of 0.16. The stock has a market cap of $7.33 billion, a P/E ratio of 9.74 and a beta of 1.18. The stock has a 50 day moving average of $301.86 and a 200-day moving average of $301.07.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BIO shares. Wells Fargo & Company boosted their price objective on Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a report on Monday, December 29th. Wall Street Zen cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Citigroup lifted their price objective on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Bio-Rad Laboratories currently has a consensus rating of “Hold” and a consensus target price of $358.50.

About Bio-Rad Laboratories

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.