Arrowstreet Capital Limited Partnership Invests $4.39 Million in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Arrowstreet Capital initiated a $4.39 million position in Bio-Rad Laboratories, purchasing 15,743 shares and representing approximately 0.06% ownership.
• Several institutional investors also increased or initiated positions, and institutional investors collectively own 65.24% of Bio-Rad’s outstanding stock.
• BIO shares recently traded at $335.25, near their 12-month high, while analysts maintained a cautious outlook with an average “Reduce” rating and a $303.33 price target.

Arrowstreet Capital Limited Partnership bought a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 15,743 shares of the medical research company's stock, valued at approximately $4,388,000. Arrowstreet Capital Limited Partnership owned approximately 0.06% of Bio-Rad Laboratories at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BIO. Massachusetts Financial Services Co. MA raised its position in shares of Bio-Rad Laboratories by 4,534.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 399,207 shares of the medical research company's stock worth $120,956,000 after purchasing an additional 390,593 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Bio-Rad Laboratories by 2,271.3% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 397,171 shares of the medical research company's stock worth $111,363,000 after buying an additional 380,422 shares in the last quarter. Boston Partners purchased a new stake in Bio-Rad Laboratories during the 4th quarter worth approximately $75,037,000. Assenagon Asset Management S.A. raised its holdings in shares of Bio-Rad Laboratories by 6,586.3% during the first quarter. Assenagon Asset Management S.A. now owns 147,834 shares of the medical research company's stock valued at $41,209,000 after acquiring an additional 145,623 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $34,600,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Bio-Rad Laboratories Trading Up 3.0%

Shares of BIO stock opened at $335.25 on Tuesday. The company has a current ratio of 3.21, a quick ratio of 2.37 and a debt-to-equity ratio of 0.12. Bio-Rad Laboratories, Inc. has a twelve month low of $236.73 and a twelve month high of $343.12. The company's 50-day moving average price is $300.29 and its 200-day moving average price is $287.70. The stock has a market cap of $8.97 billion, a price-to-earnings ratio of 55.23 and a beta of 1.06.

Analyst Ratings Changes

BIO has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Bio-Rad Laboratories from $320.00 to $290.00 and set an "equal weight" rating on the stock in a research note on Friday, May 1st. Zacks Research lowered Bio-Rad Laboratories from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Citigroup cut shares of Bio-Rad Laboratories from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $375.00 to $300.00 in a research note on Tuesday, April 7th. Weiss Ratings lowered shares of Bio-Rad Laboratories from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada initiated coverage on shares of Bio-Rad Laboratories in a research report on Friday, May 15th. They issued an "outperform" rating and a $320.00 target price for the company. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Bio-Rad Laboratories has an average rating of "Reduce" and an average price target of $303.33.

Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.

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