Two Sigma Advisers LP Sells 800 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Two Sigma Advisers LP cut its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,100 shares of the medical research company’s stock after selling 800 shares during the period. Two Sigma Advisers LP’s holdings in Bio-Rad Laboratories were worth $3,318,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC lifted its holdings in Bio-Rad Laboratories by 21.1% during the 4th quarter. Tidal Investments LLC now owns 1,069 shares of the medical research company’s stock worth $351,000 after purchasing an additional 186 shares during the last quarter. Toronto Dominion Bank increased its position in Bio-Rad Laboratories by 9.3% during the 4th quarter. Toronto Dominion Bank now owns 4,052 shares of the medical research company’s stock worth $1,331,000 after buying an additional 346 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in Bio-Rad Laboratories by 33.4% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,909 shares of the medical research company’s stock worth $627,000 after buying an additional 478 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Bio-Rad Laboratories by 8.0% during the fourth quarter. ProShare Advisors LLC now owns 901 shares of the medical research company’s stock worth $296,000 after buying an additional 67 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Bio-Rad Laboratories by 552.0% in the fourth quarter. Quantinno Capital Management LP now owns 7,850 shares of the medical research company’s stock valued at $2,579,000 after acquiring an additional 6,646 shares during the period. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Down 1.3%

BIO stock opened at $224.08 on Tuesday. Bio-Rad Laboratories, Inc. has a 52 week low of $215.38 and a 52 week high of $387.99. The business has a 50-day simple moving average of $241.00 and a 200 day simple moving average of $292.31. The company has a quick ratio of 4.85, a current ratio of 6.48 and a debt-to-equity ratio of 0.18. The company has a market cap of $6.10 billion, a PE ratio of -3.45 and a beta of 1.00.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, May 1st. The medical research company reported $2.54 EPS for the quarter, beating the consensus estimate of $1.73 by $0.81. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. The firm had revenue of $585.40 million for the quarter, compared to analyst estimates of $573.01 million. During the same period last year, the firm earned $2.30 EPS. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on BIO. Wells Fargo & Company decreased their price target on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Royal Bank of Canada cut their price objective on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Wall Street Zen lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Citigroup dropped their price target on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, UBS Group cut their price target on Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $327.40.

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.