Fisher Asset Management LLC Sells 2,371 Shares of Bio-Rad Laboratories, Inc. $BIO

Fisher Asset Management LLC cut its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 1.8% in the fourth quarter, HoldingsChannel reports. The fund owned 131,094 shares of the medical research company’s stock after selling 2,371 shares during the period. Fisher Asset Management LLC’s holdings in Bio-Rad Laboratories were worth $39,720,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Natixis Advisors LLC raised its stake in shares of Bio-Rad Laboratories by 67.1% in the third quarter. Natixis Advisors LLC now owns 65,069 shares of the medical research company’s stock worth $18,245,000 after acquiring an additional 26,119 shares during the last quarter. Mangrove Partners IM LLC bought a new position in shares of Bio-Rad Laboratories in the third quarter worth about $35,568,000. Gotham Asset Management LLC raised its stake in shares of Bio-Rad Laboratories by 41.8% in the third quarter. Gotham Asset Management LLC now owns 124,626 shares of the medical research company’s stock worth $34,944,000 after acquiring an additional 36,763 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Bio-Rad Laboratories by 461.0% in the third quarter. TD Asset Management Inc now owns 8,988 shares of the medical research company’s stock worth $2,520,000 after acquiring an additional 7,386 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of Bio-Rad Laboratories by 36.0% in the third quarter. Assetmark Inc. now owns 28,808 shares of the medical research company’s stock worth $8,077,000 after acquiring an additional 7,633 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Bio-Rad Laboratories Stock Up 3.1%

Shares of NYSE:BIO opened at $296.52 on Wednesday. Bio-Rad Laboratories, Inc. has a one year low of $211.43 and a one year high of $343.12. The company has a 50 day moving average of $275.82 and a 200-day moving average of $291.91. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.21 and a quick ratio of 2.37. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 48.85 and a beta of 1.06.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Bio-Rad Laboratories in a research note on Friday, May 15th. They issued an “outperform” rating and a $320.00 target price for the company. Wall Street Zen downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings cut shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Citigroup cut shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $375.00 to $300.00 in a research report on Tuesday, April 7th. Finally, Wells Fargo & Company lowered 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 report on Friday, May 1st. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bio-Rad Laboratories has an average rating of “Hold” and a consensus target price of $303.33.

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.