Arrowpoint Investment Partners Singapore Pte. Ltd. Buys New Shares in Bio-Rad Laboratories, Inc. $BIO

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,888 shares of the medical research company’s stock, valued at approximately $572,000.

Several other hedge funds have also made changes to their positions in BIO. Danske Bank A S bought a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at about $30,000. Geneos Wealth Management Inc. lifted its stake in shares of Bio-Rad Laboratories by 115.2% in the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock valued at $34,000 after buying an additional 76 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Bio-Rad Laboratories by 76.9% in the fourth quarter. Farther Finance Advisors LLC now owns 184 shares of the medical research company’s stock valued at $56,000 after buying an additional 80 shares during the period. UMB Bank n.a. lifted its stake in Bio-Rad Laboratories by 24.0% during the third quarter. UMB Bank n.a. now owns 207 shares of the medical research company’s stock worth $58,000 after purchasing an additional 40 shares during the period. Finally, Financial Management Professionals Inc. bought a new position in Bio-Rad Laboratories during the fourth quarter worth about $61,000. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on BIO shares. Citigroup cut shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their price target for the stock from $375.00 to $300.00 in a research note on Tuesday, April 7th. Wells Fargo & Company cut their price target on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Weiss Ratings cut shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada started coverage on shares of Bio-Rad Laboratories in a research note on Friday, May 15th. They set an “outperform” rating and a $320.00 price target for the company. Finally, 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. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Bio-Rad Laboratories currently has a consensus rating of “Hold” and a consensus price target of $303.33.

Bio-Rad Laboratories Stock Performance

NYSE BIO opened at $307.39 on Friday. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 50.64 and a beta of 1.08. The company has a 50 day moving average of $281.70 and a 200-day moving average of $291.68. The company has a current ratio of 3.21, a quick ratio of 2.37 and a debt-to-equity ratio of 0.12. Bio-Rad Laboratories, Inc. has a 1-year low of $218.14 and a 1-year high of $343.12.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($0.08). The firm had revenue of $592.10 million for the quarter, compared to analyst estimates of $589.91 million. Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 6.52%.The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.54 EPS. On average, equities analysts forecast that Bio-Rad Laboratories, Inc. will post 9.42 earnings per share for the current fiscal year.

Bio-Rad Laboratories 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.