Korea Investment CORP Sells 100 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Korea Investment CORP lessened its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 2.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,960 shares of the medical research company’s stock after selling 100 shares during the period. Korea Investment CORP’s holdings in Bio-Rad Laboratories were worth $1,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BIO. Strategic Financial Concepts LLC bought a new position in shares of Bio-Rad Laboratories during the 4th quarter worth about $3,561,000. Lecap Asset Management Ltd. bought a new position in Bio-Rad Laboratories in the fourth quarter worth approximately $510,000. Verition Fund Management LLC increased its holdings in shares of Bio-Rad Laboratories by 193.3% during the third quarter. Verition Fund Management LLC now owns 3,470 shares of the medical research company’s stock valued at $1,161,000 after acquiring an additional 2,287 shares in the last quarter. Diversified Trust Co acquired a new position in shares of Bio-Rad Laboratories during the fourth quarter worth approximately $958,000. Finally, DAVENPORT & Co LLC lifted its holdings in shares of Bio-Rad Laboratories by 48.8% in the 4th quarter. DAVENPORT & Co LLC now owns 84,677 shares of the medical research company’s stock worth $27,817,000 after purchasing an additional 27,780 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $481.00 price target on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Wells Fargo & Company lowered their target price on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Finally, StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $395.20.

Bio-Rad Laboratories Stock Performance

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

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, beating 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%. As a group, equities research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

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.