Wellington Management Group LLP Purchases New Position in Bio-Rad Laboratories, Inc. $BIO

Wellington Management Group LLP acquired a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 60,249 shares of the medical research company’s stock, valued at approximately $17,690,000. Wellington Management Group LLP owned 0.23% of Bio-Rad Laboratories as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Hollencrest Capital Management bought a new stake in shares of Bio-Rad Laboratories in the first quarter valued at about $28,000. Geneos Wealth Management Inc. raised its holdings in shares of Bio-Rad Laboratories by 115.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 76 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter valued at about $47,000. Itau Unibanco Holding S.A. lifted its position in shares of Bio-Rad Laboratories by 57.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 197 shares of the medical research company’s stock worth $60,000 after purchasing an additional 72 shares during the period. Finally, State of Wyoming bought a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $74,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Performance

BIO opened at $386.26 on Monday. The firm’s 50-day moving average price is $336.27 and its 200-day moving average price is $299.63. The company has a market cap of $10.33 billion, a P/E ratio of 46.82 and a beta of 1.07. The company has a quick ratio of 2.33, a current ratio of 3.14 and a debt-to-equity ratio of 0.11. Bio-Rad Laboratories, Inc. has a 52-week low of $236.73 and a 52-week high of $396.23.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.87. The company had revenue of $651.00 million for the quarter, compared to the consensus estimate of $623.99 million. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. Bio-Rad Laboratories’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.61 EPS. As a group, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings raised Bio-Rad Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Zacks Research upgraded shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Royal Bank Of Canada raised their price target on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Wells Fargo & Company boosted their price objective on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Finally, Citigroup increased their target price on shares of Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $343.33.

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.