Sone Capital Management LLC Invests $6.66 Million in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Sone Capital Management LLC purchased a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,281 shares of the medical research company's stock, valued at approximately $6,663,000. Sone Capital Management LLC owned approximately 0.07% of Bio-Rad Laboratories at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BIO. Wealthfront Advisers LLC purchased a new stake in shares of Bio-Rad Laboratories in the fourth quarter worth about $342,686,000. Bank of America Corp DE lifted its holdings in shares of Bio-Rad Laboratories by 705.9% in the fourth quarter. Bank of America Corp DE now owns 427,292 shares of the medical research company's stock worth $140,370,000 after buying an additional 374,269 shares in the last quarter. Ariel Investments LLC lifted its holdings in shares of Bio-Rad Laboratories by 48.0% in the fourth quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company's stock worth $184,138,000 after buying an additional 181,829 shares in the last quarter. Norges Bank purchased a new stake in shares of Bio-Rad Laboratories in the fourth quarter worth about $41,644,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Bio-Rad Laboratories by 14.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 746,119 shares of the medical research company's stock worth $245,106,000 after buying an additional 91,690 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on BIO. Wall Street Zen cut Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. UBS Group reduced their target price on 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 reduced their target price on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company reduced their target price on Bio-Rad Laboratories from $320.00 to $270.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Finally, 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 research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Bio-Rad Laboratories has an average rating of "Moderate Buy" and a consensus price target of $327.40.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock traded down $3.06 on Friday, hitting $224.08. 219,261 shares of the company traded hands, compared to its average volume of 318,067. The firm's 50-day simple moving average is $241.58 and its 200 day simple moving average is $294.42. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. The company has a market cap of $6.10 billion, a P/E ratio of -3.45 and a beta of 1.00. Bio-Rad Laboratories, Inc. has a 12-month low of $215.38 and a 12-month high of $387.99.

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 (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.81. The business had revenue of $585.40 million during the quarter, compared to analyst estimates of $573.01 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. Bio-Rad Laboratories's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.30 earnings per share. Analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share 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.