Meritage Group LP Takes Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Meritage Group LP bought a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIOFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 817 shares of the medical research company’s stock, valued at approximately $264,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Nova Scotia increased its stake in shares of Bio-Rad Laboratories by 33.1% in the 4th quarter. Bank of Nova Scotia now owns 2,634 shares of the medical research company’s stock valued at $850,000 after buying an additional 655 shares during the period. Parnassus Investments LLC grew its stake in shares of Bio-Rad Laboratories by 7.7% during the fourth quarter. Parnassus Investments LLC now owns 237,790 shares of the medical research company’s stock worth $76,780,000 after purchasing an additional 16,999 shares during the period. First Pacific Advisors LP acquired a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth $1,571,000. TD Asset Management Inc grew its stake in shares of Bio-Rad Laboratories by 8.5% during the fourth quarter. TD Asset Management Inc now owns 5,505 shares of the medical research company’s stock worth $1,778,000 after purchasing an additional 431 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of Bio-Rad Laboratories by 36.8% during the fourth quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock worth $55,000 after purchasing an additional 46 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BIO has been the subject of a number of analyst reports. Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $400.00 to $365.00 in a research note on Wednesday, April 3rd. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, May 28th. UBS Group reduced their target price on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, Royal Bank of Canada reduced their target price on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $461.00.

Get Our Latest Research Report on Bio-Rad Laboratories

Bio-Rad Laboratories Trading Up 1.7 %

BIO stock traded up $4.85 during midday trading on Friday, hitting $286.86. 323,901 shares of the company’s stock were exchanged, compared to its average volume of 199,389. The company has a market cap of $8.18 billion, a PE ratio of -27.69 and a beta of 0.94. The stock’s fifty day moving average price is $298.65 and its 200-day moving average price is $313.57. Bio-Rad Laboratories, Inc. has a one year low of $261.59 and a one year high of $431.79. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.89 and a current ratio of 6.57.

Bio-Rad Laboratories (NYSE:BIOGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The medical research company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.25. Bio-Rad Laboratories had a positive return on equity of 3.59% and a negative net margin of 12.37%. The firm had revenue of $610.82 million for the quarter, compared to the consensus estimate of $619.09 million. During the same quarter in the previous year, the business earned $3.34 earnings per share. The business’s revenue was down 9.8% compared to the same quarter last year. Research analysts predict that Bio-Rad Laboratories, Inc. will post 10.4 earnings per share for the current fiscal year.

Bio-Rad Laboratories Company Profile

(Free Report)

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.

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Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

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