Verition Fund Management LLC Has $713,000 Stock Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Verition Fund Management LLC raised its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIOGet Rating) by 25.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,266 shares of the medical research company’s stock after purchasing an additional 255 shares during the period. Verition Fund Management LLC’s holdings in Bio-Rad Laboratories were worth $713,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BIO. Vanguard Group Inc. raised its holdings in Bio-Rad Laboratories by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,317,941 shares of the medical research company’s stock valued at $1,305,534,000 after acquiring an additional 30,476 shares during the period. BlackRock Inc. increased its holdings in shares of Bio-Rad Laboratories by 0.8% in the fourth quarter. BlackRock Inc. now owns 1,768,081 shares of the medical research company’s stock worth $1,335,907,000 after purchasing an additional 14,150 shares during the period. State Street Corp increased its holdings in shares of Bio-Rad Laboratories by 2.7% in the fourth quarter. State Street Corp now owns 1,008,534 shares of the medical research company’s stock worth $762,018,000 after purchasing an additional 26,229 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Bio-Rad Laboratories by 7.3% in the fourth quarter. Alliancebernstein L.P. now owns 586,489 shares of the medical research company’s stock worth $443,133,000 after purchasing an additional 40,012 shares during the period. Finally, Brown Advisory Inc. increased its holdings in shares of Bio-Rad Laboratories by 7.9% in the first quarter. Brown Advisory Inc. now owns 581,924 shares of the medical research company’s stock worth $329,581,000 after purchasing an additional 42,563 shares during the period. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Insider Activity

In other news, CAO Ajit Ramalingam sold 518 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $537.00, for a total transaction of $278,166.00. Following the completion of the transaction, the chief accounting officer now directly owns 98 shares of the company’s stock, valued at $52,626. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 27.40% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BIO. Citigroup decreased their price target on shares of Bio-Rad Laboratories from $750.00 to $700.00 and set a “buy” rating on the stock in a report on Friday, July 8th. Credit Suisse Group started coverage on shares of Bio-Rad Laboratories in a research report on Wednesday, August 24th. They issued an “outperform” rating and a $715.00 target price for the company. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $705.00.

Bio-Rad Laboratories Stock Performance

NYSE BIO opened at $418.55 on Friday. The company has a 50-day simple moving average of $506.34 and a two-hundred day simple moving average of $520.46. The company has a quick ratio of 4.22, a current ratio of 5.30 and a debt-to-equity ratio of 0.13. Bio-Rad Laboratories, Inc. has a 12-month low of $414.83 and a 12-month high of $804.65. The firm has a market cap of $12.43 billion, a price-to-earnings ratio of -6.31 and a beta of 0.99.

Bio-Rad Laboratories (NYSE:BIOGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The medical research company reported $3.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.92. Bio-Rad Laboratories had a negative net margin of 67.66% and a positive return on equity of 3.82%. The business had revenue of $691.10 million during the quarter, compared to analyst estimates of $664.60 million. During the same period in the prior year, the business posted $3.54 earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. On average, equities analysts forecast that Bio-Rad Laboratories, Inc. will post 14.35 EPS for the current year.

About Bio-Rad Laboratories

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Bio-Rad Laboratories, Inc manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.

See Also

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

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