Bio-Rad Laboratories, Inc. $BIO Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC lifted its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 38.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,938 shares of the medical research company’s stock after purchasing an additional 2,460 shares during the quarter. HighTower Advisors LLC’s holdings in Bio-Rad Laboratories were worth $2,506,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Assetmark Inc. raised its position in shares of Bio-Rad Laboratories by 36.0% during the 3rd quarter. Assetmark Inc. now owns 28,808 shares of the medical research company’s stock worth $8,077,000 after buying an additional 7,633 shares in the last quarter. Winslow Asset Management Inc. raised its holdings in Bio-Rad Laboratories by 1.7% during the third quarter. Winslow Asset Management Inc. now owns 23,415 shares of the medical research company’s stock worth $6,565,000 after purchasing an additional 389 shares in the last quarter. QVIDTVM Management LLC lifted its position in Bio-Rad Laboratories by 0.3% in the third quarter. QVIDTVM Management LLC now owns 126,480 shares of the medical research company’s stock worth $35,464,000 after purchasing an additional 400 shares during the period. ProShare Advisors LLC bought a new position in Bio-Rad Laboratories during the 3rd quarter valued at $218,000. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Bio-Rad Laboratories by 23.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,550 shares of the medical research company’s stock valued at $995,000 after purchasing an additional 679 shares during the period. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

BIO opened at $278.69 on Friday. The company has a quick ratio of 4.19, a current ratio of 5.62 and a debt-to-equity ratio of 0.16. The firm has a market cap of $7.52 billion, a PE ratio of 9.99 and a beta of 1.18. The business has a fifty day simple moving average of $298.16 and a 200-day simple moving average of $301.26. Bio-Rad Laboratories, Inc. has a fifty-two week low of $211.43 and a fifty-two week high of $343.12.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Thursday, February 12th. The medical research company reported $2.51 EPS 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 analysts’ expectations of $694.64 million. Bio-Rad Laboratories had a net margin of 29.42% and a return on equity of 3.86%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.90 earnings per share. As a group, equities analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wall Street Zen lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bio-Rad Laboratories in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock 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.