87,487 Shares in Bio-Rad Laboratories, Inc. (NYSE:BIO) Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC acquired a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 87,487 shares of the medical research company’s stock, valued at approximately $28,740,000. Wedge Capital Management L L P NC owned about 0.31% of Bio-Rad Laboratories as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. boosted its position in shares of Bio-Rad Laboratories by 140.6% in the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after buying an additional 45 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of Bio-Rad Laboratories in the third quarter valued at about $32,000. Point72 Hong Kong Ltd acquired a new stake in shares of Bio-Rad Laboratories in the third quarter valued at approximately $55,000. Quarry LP purchased a new position in shares of Bio-Rad Laboratories during the 2nd quarter worth approximately $59,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Bio-Rad Laboratories by 281.7% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 271 shares of the medical research company’s stock worth $91,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BIO. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research note on Tuesday. Finally, Citigroup raised their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Bio-Rad Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $394.20.

Bio-Rad Laboratories Stock Performance

NYSE BIO opened at $342.95 on Friday. The business’s 50-day moving average price is $336.49 and its 200 day moving average price is $329.82. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. Bio-Rad Laboratories, Inc. has a twelve month low of $262.12 and a twelve month high of $387.99. The company has a market capitalization of $9.60 billion, a PE ratio of -12.55 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.85. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The business had revenue of $649.70 million for the quarter, compared to analysts’ expectations of $628.18 million. During the same period last year, the company earned $2.33 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, research analysts predict that Bio-Rad Laboratories, Inc. will post 10.3 earnings per share for the current year.

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.