Man Group plc Takes Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Man Group plc bought a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,718 shares of the medical research company's stock, valued at approximately $2,535,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIO. Venturi Wealth Management LLC raised its stake in Bio-Rad Laboratories by 2,175.0% in the fourth quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company's stock valued at $30,000 after buying an additional 87 shares during the last quarter. GeoWealth Management LLC boosted its holdings in Bio-Rad Laboratories by 342.9% in the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock valued at $31,000 after purchasing an additional 72 shares during the last quarter. Picton Mahoney Asset Management boosted its holdings in Bio-Rad Laboratories by 55.6% during the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock worth $32,000 after buying an additional 35 shares in the last quarter. Asset Planning Inc acquired a new stake in shares of Bio-Rad Laboratories during the 4th quarter valued at about $33,000. Finally, UMB Bank n.a. raised its stake in shares of Bio-Rad Laboratories by 41.6% during the 4th quarter. UMB Bank n.a. now owns 109 shares of the medical research company's stock worth $36,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on BIO. Royal Bank of Canada reduced their target price on Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Wall Street Zen lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Monday, February 17th. UBS Group reduced their target price 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. Citigroup lowered their price target on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Wells Fargo & Company cut their price objective on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Bio-Rad Laboratories presently has an average rating of "Moderate Buy" and an average target price of $327.40.

Bio-Rad Laboratories Trading Down 1.1%

Shares of BIO traded down $2.59 during midday trading on Wednesday, reaching $227.77. The company had a trading volume of 30,794 shares, compared to its average volume of 315,041. The firm has a 50 day simple moving average of $240.51 and a 200-day simple moving average of $291.87. 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 stock has a market cap of $6.20 billion, a PE ratio of -3.50 and a beta of 1.00. Bio-Rad Laboratories, Inc. has a 1-year low of $215.38 and a 1-year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.81. The firm had revenue of $585.40 million during the quarter, compared to analysts' expectations of $573.01 million. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. Bio-Rad Laboratories's revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business earned $2.30 earnings per share. Research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

About Bio-Rad Laboratories

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.