Russell Investments Group Ltd. Has $2 Million Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Russell Investments Group Ltd. cut its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 36.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,102 shares of the medical research company’s stock after selling 3,427 shares during the quarter. Russell Investments Group Ltd.’s holdings in Bio-Rad Laboratories were worth $2,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Retirement Systems of Alabama lifted its holdings in shares of Bio-Rad Laboratories by 416.9% in the third quarter. Retirement Systems of Alabama now owns 23,260 shares of the medical research company’s stock worth $7,782,000 after acquiring an additional 18,760 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Bio-Rad Laboratories by 95.6% in the 3rd quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock valued at $14,836,000 after purchasing an additional 21,669 shares during the last quarter. GAMMA Investing LLC lifted its stake in Bio-Rad Laboratories by 24.3% in the 4th quarter. GAMMA Investing LLC now owns 665 shares of the medical research company’s stock valued at $218,000 after purchasing an additional 130 shares during the last quarter. Diversified Trust Co acquired a new stake in Bio-Rad Laboratories in the fourth quarter valued at approximately $958,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Bio-Rad Laboratories by 4.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 7,824 shares of the medical research company’s stock worth $2,570,000 after buying an additional 321 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Down 2.9 %

Shares of NYSE BIO opened at $238.02 on Friday. The company’s 50 day moving average price is $255.62 and its 200-day moving average price is $311.81. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.85 and a current ratio of 6.48. Bio-Rad Laboratories, Inc. has a 52-week low of $215.38 and a 52-week high of $387.99. The company has a market capitalization of $6.67 billion, a P/E ratio of -3.66 and a beta of 1.12.

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

Analysts Set New Price Targets

BIO has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $481.00 price target on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Wells Fargo & Company dropped their target price on Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $380.20.

Bio-Rad Laboratories 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.