Mangrove Partners IM LLC Invests $35.57 Million in Bio-Rad Laboratories, Inc. $BIO

Mangrove Partners IM LLC acquired a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 126,853 shares of the medical research company’s stock, valued at approximately $35,568,000. Bio-Rad Laboratories accounts for 3.0% of Mangrove Partners IM LLC’s investment portfolio, making the stock its 14th largest position. Mangrove Partners IM LLC owned about 0.47% of Bio-Rad Laboratories at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BIO. Capital Research Global Investors acquired a new stake in Bio-Rad Laboratories during the third quarter worth $117,303,000. Norges Bank acquired a new position in shares of Bio-Rad Laboratories in the 2nd quarter valued at $30,987,000. Ilex Capital Partners UK LLP raised its stake in shares of Bio-Rad Laboratories by 1,790.3% in the 2nd quarter. Ilex Capital Partners UK LLP now owns 120,885 shares of the medical research company’s stock valued at $29,172,000 after buying an additional 114,490 shares in the last quarter. Boston Trust Walden Corp bought a new position in shares of Bio-Rad Laboratories during the 3rd quarter worth about $26,763,000. Finally, Scopia Capital Management LP bought a new position in shares of Bio-Rad Laboratories during the 2nd quarter worth about $22,862,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Trading Up 0.4%

Shares of BIO opened at $262.91 on Friday. The stock has a fifty day moving average price of $292.06 and a two-hundred day moving average price of $300.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.19 and a current ratio of 5.62. Bio-Rad Laboratories, Inc. has a 52-week low of $211.43 and a 52-week high of $343.12. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 9.42 and a beta of 1.18.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Thursday, February 12th. The medical research company reported $2.51 EPS for the quarter, missing the consensus estimate of $2.57 by ($0.06). Bio-Rad Laboratories had a return on equity of 3.86% and a net margin of 29.42%.The business had revenue of $693.20 million for the quarter, compared to the consensus estimate of $694.64 million. During the same quarter in the previous year, the company posted $2.90 EPS. Bio-Rad Laboratories’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BIO. Weiss Ratings reissued a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research note on Monday, December 29th. Wall Street Zen cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $358.50.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.