Arrowstreet Capital Limited Partnership Increases Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Arrowstreet Capital Limited Partnership increased its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 409.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,956 shares of the medical research company’s stock after purchasing an additional 29,707 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Bio-Rad Laboratories were worth $12,140,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Verition Fund Management LLC lifted its position in shares of Bio-Rad Laboratories by 193.3% during the 3rd quarter. Verition Fund Management LLC now owns 3,470 shares of the medical research company’s stock valued at $1,161,000 after buying an additional 2,287 shares in the last quarter. Centiva Capital LP purchased a new position in Bio-Rad Laboratories during the third quarter valued at $505,000. Investment Management Corp of Ontario acquired a new stake in shares of Bio-Rad Laboratories in the third quarter valued at about $210,000. Quarry LP grew its position in shares of Bio-Rad Laboratories by 38.1% in the third quarter. Quarry LP now owns 297 shares of the medical research company’s stock valued at $99,000 after purchasing an additional 82 shares during the period. Finally, Quantinno Capital Management LP purchased a new stake in shares of Bio-Rad Laboratories during the third quarter worth about $403,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Price Performance

BIO stock opened at $225.21 on Friday. Bio-Rad Laboratories, Inc. has a 1 year low of $221.18 and a 1 year high of $387.99. The firm has a market capitalization of $6.31 billion, a PE ratio of -3.46 and a beta of 1.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85. The business has a 50 day simple moving average of $281.98 and a 200-day simple moving average of $319.39.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. Equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BIO. StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Wells Fargo & Company lowered their price target on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $481.00 price objective on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Bio-Rad Laboratories has a consensus rating of “Moderate Buy” and an average price target of $395.20.

Bio-Rad Laboratories Company Profile

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.