Bio-Rad Laboratories, Inc. $BIO Shares Bought by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in Bio‑Rad (NYSE: BIO) by 13.7% in Q4 to 32,765 shares, worth about $9.93 million (roughly 0.12% ownership).
• Bio‑Rad reported quarterly results with an EPS miss of $2.51 vs. $2.57 expected and revenue of $693.2M vs. $694.6M expected, while revenue rose 3.9% year‑over‑year and net margin was 29.42%.
• Analyst sentiment is mixed with a consensus rating of "Hold" and an average price target of $339.75, and several firms recently downgraded the stock (e.g., Citigroup to neutral, Weiss Ratings at sell).

Assetmark Inc. lifted its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 13.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,765 shares of the medical research company's stock after buying an additional 3,957 shares during the quarter. Assetmark Inc. owned approximately 0.12% of Bio-Rad Laboratories worth $9,927,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Quent Capital LLC bought a new stake in Bio-Rad Laboratories in the third quarter valued at $25,000. Farther Finance Advisors LLC grew its stake in Bio-Rad Laboratories by 52.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company's stock valued at $29,000 after acquiring an additional 36 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Bio-Rad Laboratories by 115.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company's stock valued at $34,000 after buying an additional 76 shares during the last quarter. CWM LLC lifted its holdings in Bio-Rad Laboratories by 82.0% in the 3rd quarter. CWM LLC now owns 202 shares of the medical research company's stock worth $57,000 after purchasing an additional 91 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in Bio-Rad Laboratories by 24.0% in the 3rd quarter. UMB Bank n.a. now owns 207 shares of the medical research company's stock worth $58,000 after purchasing an additional 40 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Stock Performance

BIO opened at $298.70 on Friday. The business has a fifty day simple moving average of $275.82 and a 200 day simple moving average of $298.80. The company has a market capitalization of $8.06 billion, a PE ratio of 10.70 and a beta of 1.16. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $343.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.62 and a quick ratio of 4.19.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The medical research company reported $2.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.57 by ($0.06). The firm had revenue of $693.20 million during the quarter, compared to the consensus estimate of $694.64 million. Bio-Rad Laboratories had a net margin of 29.42% and a return on equity of 3.86%. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.90 earnings per share. Research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BIO shares. Weiss Ratings restated a "sell (d-)" rating on shares of Bio-Rad Laboratories in a research note on Monday, December 29th. Citigroup cut Bio-Rad Laboratories from a "buy" rating to a "neutral" rating and decreased their price target for the company from $375.00 to $300.00 in a report on Tuesday, April 7th. Finally, Wall Street Zen cut Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, February 14th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $339.75.

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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