Wellington Management Group LLP Takes $2.54 Million Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Wellington Management Group LLP acquired a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,877 shares of the medical research company’s stock, valued at approximately $2,543,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Gladius Capital Management LP increased its stake in shares of Bio-Rad Laboratories by 65.8% in the 4th quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 48 shares during the last quarter. Principal Securities Inc. acquired a new stake in Bio-Rad Laboratories in the fourth quarter worth $41,000. GAMMA Investing LLC acquired a new position in shares of Bio-Rad Laboratories in the 4th quarter valued at $42,000. Parallel Advisors LLC increased its position in shares of Bio-Rad Laboratories by 36.8% in the 4th quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock valued at $55,000 after buying an additional 46 shares in the last quarter. Finally, Bfsg LLC acquired a new stake in Bio-Rad Laboratories during the 4th quarter worth $77,000. Institutional investors own 65.24% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michael Crowley sold 369 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $281.91, for a total value of $104,024.79. Following the completion of the sale, the executive vice president now owns 6,573 shares of the company’s stock, valued at approximately $1,852,994.43. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 17.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Jefferies Financial Group restated a “hold” rating and issued a $315.00 price target (down from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. Citigroup downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $400.00 to $365.00 in a report on Wednesday, April 3rd. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, May 28th. Finally, UBS Group dropped their price objective on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $436.67.

Bio-Rad Laboratories Price Performance

NYSE BIO opened at $273.11 on Monday. Bio-Rad Laboratories, Inc. has a 12-month low of $261.59 and a 12-month high of $431.79. The firm’s 50 day moving average is $284.02 and its 200-day moving average is $310.49. The company has a market capitalization of $7.79 billion, a PE ratio of -26.36 and a beta of 0.95. The company has a quick ratio of 4.89, a current ratio of 6.57 and a debt-to-equity ratio of 0.13.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Tuesday, May 7th. The medical research company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.25. The company had revenue of $610.82 million during the quarter, compared to the consensus estimate of $619.09 million. Bio-Rad Laboratories had a negative net margin of 12.37% and a positive return on equity of 3.59%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.34 EPS. Equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.8 earnings per share for the current fiscal year.

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.