Assetmark Inc. Raises Stock Holdings in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Assetmark Inc. increased its Bio-Rad Laboratories stake by 19% in the first quarter, buying 6,224 additional shares and bringing its total holdings to 38,989 shares worth about $10.9 million.
• Bio-Rad stock was down 0.8% and recently traded around $301.93, with a market cap of $8.08 billion. The shares have ranged from $236.73 to $343.12 over the past year.
• The company missed quarterly EPS expectations with $1.89 per share versus the $1.97 consensus, though revenue slightly beat forecasts at $592.1 million. Analysts now have a cautious view overall, with an average rating of “Reduce” and a consensus price target of $303.33.

Assetmark Inc. boosted its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 19.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,989 shares of the medical research company's stock after purchasing an additional 6,224 shares during the quarter. Assetmark Inc. owned about 0.14% of Bio-Rad Laboratories worth $10,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. First Eagle Investment Management LLC raised its holdings in shares of Bio-Rad Laboratories by 2.0% during the 4th quarter. First Eagle Investment Management LLC now owns 2,570,473 shares of the medical research company's stock valued at $778,828,000 after buying an additional 50,154 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Bio-Rad Laboratories by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,077,072 shares of the medical research company's stock worth $326,344,000 after purchasing an additional 14,134 shares during the last quarter. Capital Research Global Investors lifted its stake in Bio-Rad Laboratories by 18.2% in the fourth quarter. Capital Research Global Investors now owns 494,472 shares of the medical research company's stock worth $149,820,000 after purchasing an additional 76,117 shares during the last quarter. Bank of America Corp DE boosted its position in Bio-Rad Laboratories by 1.7% during the third quarter. Bank of America Corp DE now owns 459,887 shares of the medical research company's stock valued at $128,948,000 after buying an additional 7,754 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Bio-Rad Laboratories by 4,534.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 399,207 shares of the medical research company's stock valued at $120,956,000 after acquiring an additional 390,593 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Bio-Rad Laboratories Stock Down 0.8%

BIO stock opened at $301.93 on Tuesday. The business has a 50 day moving average of $290.13 and a 200 day moving average of $287.48. The firm has a market cap of $8.08 billion, a PE ratio of 49.74 and a beta of 1.08. Bio-Rad Laboratories, Inc. has a twelve month low of $236.73 and a twelve month high of $343.12. The company has a quick ratio of 2.37, a current ratio of 3.21 and a debt-to-equity ratio of 0.12.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its earnings results on Thursday, April 30th. The medical research company reported $1.89 EPS for the quarter, missing analysts' consensus estimates of $1.97 by ($0.08). The company had revenue of $592.10 million during the quarter, compared to analysts' expectations of $589.91 million. Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 6.52%.The company's revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.54 earnings per share. On average, research analysts forecast that Bio-Rad Laboratories, Inc. will post 9.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BIO shares. Citigroup lowered Bio-Rad Laboratories from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $375.00 to $300.00 in a research note on Tuesday, April 7th. Zacks Research lowered shares of Bio-Rad Laboratories from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Royal Bank Of Canada assumed coverage on Bio-Rad Laboratories in a research report on Friday, May 15th. They set an "outperform" rating and a $320.00 price target for the company. Wells Fargo & Company dropped their price objective on Bio-Rad Laboratories from $320.00 to $290.00 and set an "equal weight" rating for the company in a report on Friday, May 1st. Finally, 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. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $303.33.

Bio-Rad Laboratories Company 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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