DnB Asset Management AS Increases Stock Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

DnB Asset Management AS increased its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,440 shares of the medical research company’s stock after buying an additional 279 shares during the period. DnB Asset Management AS’s holdings in Bio-Rad Laboratories were worth $1,130,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BIO shares. Royal Bank of Canada restated an “outperform” rating and issued a $481.00 price objective on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Wells Fargo & Company reduced 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 shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $395.20.

Bio-Rad Laboratories Stock Performance

NYSE BIO opened at $239.97 on Wednesday. The business’s 50-day moving average price is $289.28 and its 200 day moving average price is $321.35. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a twelve month low of $235.84 and a twelve month high of $387.99. The company has a market capitalization of $6.72 billion, a PE ratio of -3.69 and a beta of 0.98.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, topping 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%. On average, research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current 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.