Earnest Partners LLC Increases Stock Holdings in Bio-Rad Laboratories, Inc. $BIO

Earnest Partners LLC lifted its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 0.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 609,284 shares of the medical research company’s stock after acquiring an additional 3,398 shares during the period. Earnest Partners LLC’s holdings in Bio-Rad Laboratories were worth $170,837,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in Bio-Rad Laboratories by 3.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 134,767 shares of the medical research company’s stock worth $40,154,000 after acquiring an additional 4,262 shares during the last quarter. Sector Gamma AS grew its position in shares of Bio-Rad Laboratories by 28.0% in the third quarter. Sector Gamma AS now owns 22,827 shares of the medical research company’s stock valued at $6,400,000 after purchasing an additional 4,998 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of Bio-Rad Laboratories by 54.9% in the third quarter. Exchange Traded Concepts LLC now owns 21,580 shares of the medical research company’s stock valued at $6,051,000 after purchasing an additional 7,648 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Bio-Rad Laboratories by 461.0% during the 3rd quarter. TD Asset Management Inc now owns 8,988 shares of the medical research company’s stock worth $2,520,000 after purchasing an additional 7,386 shares in the last quarter. Finally, Boston Trust Walden Corp acquired a new position in shares of Bio-Rad Laboratories during the 3rd quarter worth approximately $26,763,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock opened at $262.91 on Friday. The stock has a market capitalization of $7.10 billion, a P/E ratio of 9.42 and a beta of 1.18. Bio-Rad Laboratories, Inc. has a 12-month low of $211.43 and a 12-month high of $343.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.62 and a quick ratio of 4.19. The firm’s 50-day moving average is $292.06 and its two-hundred day moving average is $300.24.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, February 12th. The medical research company reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.06). The firm had revenue of $693.20 million during the quarter, compared to analyst estimates of $694.64 million. Bio-Rad Laboratories had a net margin of 29.42% and a return on equity of 3.86%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.90 EPS. Equities analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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