Janus Henderson Group PLC Decreases Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Janus Henderson Group PLC cut its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 54.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,204 shares of the medical research company’s stock after selling 1,443 shares during the period. Janus Henderson Group PLC’s holdings in Bio-Rad Laboratories were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BIO. Van ECK Associates Corp lifted its stake in Bio-Rad Laboratories by 97.8% during the third quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock worth $436,861,000 after purchasing an additional 644,530 shares during the last quarter. Select Equity Group L.P. raised its holdings in Bio-Rad Laboratories by 26.2% during the second quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock worth $177,391,000 after purchasing an additional 134,856 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Bio-Rad Laboratories by 32,296.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock valued at $173,773,000 after buying an additional 634,311 shares in the last quarter. Earnest Partners LLC boosted its holdings in shares of Bio-Rad Laboratories by 17.8% in the 2nd quarter. Earnest Partners LLC now owns 606,788 shares of the medical research company’s stock valued at $165,720,000 after buying an additional 91,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Bio-Rad Laboratories by 64.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company’s stock valued at $135,081,000 after buying an additional 193,700 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Down 1.1 %

Shares of Bio-Rad Laboratories stock opened at $336.28 on Monday. Bio-Rad Laboratories, Inc. has a one year low of $262.12 and a one year high of $387.99. The company has a market cap of $9.41 billion, a P/E ratio of -12.30 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. The firm has a fifty day moving average of $341.35 and a two-hundred day moving average of $321.29.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly 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 firm had revenue of $649.70 million during the quarter, compared to analysts’ expectations of $628.18 million. During the same period in the prior year, the company posted $2.33 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts forecast that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BIO. Citigroup upped their price objective on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada raised their price target on Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company began coverage on Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price objective for the company. Finally, StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $394.20.

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.