Quantinno Capital Management LP Takes Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Quantinno Capital Management LP acquired a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,204 shares of the medical research company’s stock, valued at approximately $403,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC increased its position in Bio-Rad Laboratories by 193.8% during the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after buying an additional 62 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Bio-Rad Laboratories by 140.6% during the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 45 shares during the last quarter. Gladius Capital Management LP purchased a new stake in Bio-Rad Laboratories during the 3rd quarter worth about $32,000. Headlands Technologies LLC acquired a new position in Bio-Rad Laboratories in the 2nd quarter valued at about $51,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Bio-Rad Laboratories during the third quarter valued at approximately $55,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock opened at $336.28 on Monday. The business’s fifty day moving average price is $341.35 and its 200 day moving average price is $321.29. Bio-Rad Laboratories, Inc. has a twelve month low of $262.12 and a twelve month high of $387.99. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $9.41 billion, a P/E ratio of -12.30 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.85. The business had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 EPS. As a group, research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BIO. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada increased their target price on Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price target for the company. Finally, Citigroup increased their price objective on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Bio-Rad Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $394.20.

About Bio-Rad Laboratories

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.