Intech Investment Management LLC Purchases New Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Intech Investment Management LLC acquired a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 714 shares of the medical research company’s stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BIO. Thrivent Financial for Lutherans raised its position in shares of Bio-Rad Laboratories by 446.5% in the third quarter. Thrivent Financial for Lutherans now owns 4,498 shares of the medical research company’s stock worth $1,505,000 after acquiring an additional 3,675 shares during the period. Commerce Bank purchased a new stake in shares of Bio-Rad Laboratories in the third quarter valued at approximately $240,000. Cerity Partners LLC raised its stake in shares of Bio-Rad Laboratories by 29.3% during the 3rd quarter. Cerity Partners LLC now owns 7,793 shares of the medical research company’s stock worth $2,607,000 after buying an additional 1,767 shares during the period. Larson Financial Group LLC grew its stake in Bio-Rad Laboratories by 219.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,024 shares of the medical research company’s stock valued at $343,000 after acquiring an additional 703 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Bio-Rad Laboratories by 38.3% during the third quarter. The Manufacturers Life Insurance Company now owns 86,782 shares of the medical research company’s stock worth $29,036,000 after acquiring an additional 24,052 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BIO. Wells Fargo & Company reduced their price target on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Royal Bank of Canada restated an “outperform” rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Finally, StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $395.20.

Bio-Rad Laboratories Stock Down 0.9 %

Shares of BIO opened at $244.99 on Thursday. The stock has a fifty day simple moving average of $297.47 and a two-hundred day simple moving average of $323.57. 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 capitalization of $6.86 billion, a PE ratio of -3.77 and a beta of 0.98. Bio-Rad Laboratories, Inc. has a 52-week low of $243.76 and a 52-week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

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.