Point72 Asset Management L.P. Reduces Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Point72 Asset Management L.P. lowered its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 247,510 shares of the medical research company's stock after selling 2,598 shares during the period. Point72 Asset Management L.P. owned approximately 0.88% of Bio-Rad Laboratories worth $81,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BIO. Strategic Financial Concepts LLC bought a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at approximately $3,561,000. Lecap Asset Management Ltd. bought a new stake in shares of Bio-Rad Laboratories during the 4th quarter valued at $510,000. DAVENPORT & Co LLC grew its holdings in shares of Bio-Rad Laboratories by 48.8% during the 4th quarter. DAVENPORT & Co LLC now owns 84,677 shares of the medical research company's stock worth $27,817,000 after purchasing an additional 27,780 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Bio-Rad Laboratories by 95.6% during the 3rd quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company's stock worth $14,836,000 after purchasing an additional 21,669 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new position in shares of Bio-Rad Laboratories in the fourth quarter worth $569,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Analysts Set New Price Targets

BIO has been the subject of several recent analyst reports. Citigroup cut their price objective 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. Wells Fargo & Company decreased their target price on Bio-Rad Laboratories from $320.00 to $270.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Royal Bank of Canada dropped their target price 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. StockNews.com lowered shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Finally, UBS Group lowered their price objective on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $327.40.

Bio-Rad Laboratories Trading Down 0.5%

Bio-Rad Laboratories stock traded down $1.30 during trading hours on Tuesday, hitting $247.36. The stock had a trading volume of 37,228 shares, compared to its average volume of 317,169. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of -3.80 and a beta of 1.00. 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 business's 50 day simple moving average is $243.39 and its 200-day simple moving average is $297.26. Bio-Rad Laboratories, Inc. has a one year low of $215.38 and a one year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical research company reported $2.54 EPS for the quarter, topping 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 business had revenue of $585.40 million for the quarter, compared to the consensus estimate of $573.01 million. During the same period last year, the company earned $2.30 EPS. The firm's revenue was down 4.2% compared to the same quarter last year. On average, equities analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal 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.