Baird Financial Group Inc. Raises Stock Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Baird Financial Group Inc. increased its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIOGet Rating) by 9.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,179 shares of the medical research company’s stock after acquiring an additional 184 shares during the quarter. Baird Financial Group Inc.’s holdings in Bio-Rad Laboratories were worth $1,078,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Bio-Rad Laboratories by 1.3% in the first 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 last quarter. Veritas Asset Management LLP purchased a new position in Bio-Rad Laboratories in the second quarter valued at approximately $379,547,000. Brown Advisory Inc. grew its holdings in Bio-Rad Laboratories by 8.2% during the second quarter. Brown Advisory Inc. now owns 629,845 shares of the medical research company’s stock valued at $314,245,000 after purchasing an additional 47,921 shares during the period. Acadian Asset Management LLC increased its position in Bio-Rad Laboratories by 1.0% in the first quarter. Acadian Asset Management LLC now owns 415,534 shares of the medical research company’s stock worth $234,007,000 after buying an additional 4,048 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Bio-Rad Laboratories by 6.8% in the first quarter. Bank of America Corp DE now owns 394,499 shares of the medical research company’s stock valued at $222,193,000 after buying an additional 25,010 shares during the period. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BIO shares. Credit Suisse Group decreased their price objective on Bio-Rad Laboratories from $715.00 to $640.00 and set an “outperform” rating for the company in a report on Friday, October 28th. TheStreet downgraded shares of Bio-Rad Laboratories from a “c” rating to a “d+” rating in a research note on Thursday, October 27th. Finally, cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, November 9th. One research analyst has 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $680.00.

Bio-Rad Laboratories Stock Performance

Shares of BIO opened at $398.12 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.30 and a current ratio of 5.50. The stock has a market capitalization of $11.87 billion, a price-to-earnings ratio of -1.97 and a beta of 0.92. Bio-Rad Laboratories, Inc. has a 52-week low of $344.63 and a 52-week high of $783.94. The stock’s 50-day simple moving average is $410.79 and its 200 day simple moving average is $475.91.

Bio-Rad Laboratories (NYSE:BIOGet Rating) last released its quarterly earnings data on Thursday, October 27th. The medical research company reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. The company had revenue of $680.10 million during the quarter, compared to analyst estimates of $685.50 million. Bio-Rad Laboratories had a negative net margin of 215.16% and a positive return on equity of 4.13%. Bio-Rad Laboratories’s revenue was down 9.0% compared to the same quarter last year. During the same period last year, the business earned $3.71 earnings per share. Research analysts forecast that Bio-Rad Laboratories, Inc. will post 14.38 EPS for the current fiscal year.

Bio-Rad Laboratories Company Profile

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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.

Further Reading

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

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