Marathon Asset Management Ltd Trims Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Marathon Asset Management Ltd cut its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 9.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,655 shares of the medical research company's stock after selling 6,472 shares during the period. Marathon Asset Management Ltd owned about 0.22% of Bio-Rad Laboratories worth $14,774,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Metis Global Partners LLC raised its holdings in shares of Bio-Rad Laboratories by 4.4% in the fourth quarter. Metis Global Partners LLC now owns 712 shares of the medical research company's stock valued at $234,000 after buying an additional 30 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Bio-Rad Laboratories by 13.2% in the fourth quarter. Signaturefd LLC now owns 265 shares of the medical research company's stock valued at $87,000 after buying an additional 31 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Bio-Rad Laboratories by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company's stock valued at $1,488,000 after buying an additional 32 shares during the last quarter. Picton Mahoney Asset Management raised its holdings in shares of Bio-Rad Laboratories by 55.6% in the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock valued at $32,000 after buying an additional 35 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Bio-Rad Laboratories by 1.7% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 2,714 shares of the medical research company's stock valued at $892,000 after buying an additional 45 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Trading Up 0.2%

Shares of Bio-Rad Laboratories stock opened at $243.99 on Friday. Bio-Rad Laboratories, Inc. has a 52-week low of $211.43 and a 52-week high of $387.99. The company has a quick ratio of 4.43, a current ratio of 5.99 and a debt-to-equity ratio of 0.18. The company's 50-day simple moving average is $235.44 and its 200-day simple moving average is $275.24. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of -3.20 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.81. Bio-Rad Laboratories had a negative net margin of 85.16% and a positive return on equity of 4.32%. The company had revenue of $585.40 million for the quarter, compared to analyst estimates of $573.01 million. During the same period in the prior year, the business posted $2.30 earnings per share. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on BIO. Citigroup reduced their target price on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company dropped their price target on shares of Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating on the stock in a research note on Monday, June 9th. Wall Street Zen lowered shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th. UBS Group dropped their price target on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada dropped their price target on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $324.25.

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.

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