Aigen Investment Management LP Buys Shares of 1,129 Bio-Rad Laboratories, Inc. (NYSE:BIO)

Aigen Investment Management LP purchased a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,129 shares of the medical research company’s stock, valued at approximately $365,000.

Several other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Bio-Rad Laboratories in the third quarter valued at approximately $116,036,000. Norges Bank purchased a new position in shares of Bio-Rad Laboratories during the 4th quarter worth $73,142,000. Parnassus Investments LLC purchased a new stake in shares of Bio-Rad Laboratories in the third quarter valued at about $79,143,000. Deerfield Management Company L.P. Series C acquired a new stake in Bio-Rad Laboratories during the third quarter worth about $62,351,000. Finally, Earnest Partners LLC raised its stake in Bio-Rad Laboratories by 25.6% during the third quarter. Earnest Partners LLC now owns 351,510 shares of the medical research company’s stock worth $125,999,000 after purchasing an additional 71,570 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Performance

NYSE:BIO traded down $3.04 during mid-day trading on Friday, reaching $287.21. 141,582 shares of the stock were exchanged, compared to its average volume of 219,484. The company has a 50 day simple moving average of $304.28 and a 200-day simple moving average of $314.14. The stock has a market capitalization of $8.19 billion, a P/E ratio of -27.74 and a beta of 0.94. Bio-Rad Laboratories, Inc. has a 1 year low of $261.59 and a 1 year high of $431.79. 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 announced its earnings results on Tuesday, May 7th. The medical research company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.25. The business 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 business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.34 earnings per share. Analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.41 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Michael Crowley sold 3,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total value of $1,008,000.00. Following the completion of the transaction, the executive vice president now owns 6,942 shares in the company, valued at approximately $2,332,512. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.06% of the company’s stock.

Wall Street Analyst Weigh In

BIO has been the subject of a number of research analyst reports. StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, May 13th. UBS Group lowered their price target on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their price objective for the company from $400.00 to $365.00 in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada lowered their target price on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $461.00.

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.