Squarepoint Ops LLC Takes $2.47 Million Position in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Squarepoint Ops LLC acquired 8,419 Bio-Rad Laboratories shares in the second quarter, valued at approximately $2.47 million. Institutional investors and hedge funds collectively own 65.24% of the company.
• Bio-Rad reported quarterly EPS of $2.62, surpassing the $1.75 analyst consensus, while revenue reached $651 million versus expectations of $623.99 million. However, revenue was essentially flat year over year.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and average price target of $343.33, below the stock’s reported opening price of $369.46.

Squarepoint Ops LLC acquired a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,419 shares of the medical research company's stock, valued at approximately $2,472,000.

Other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System increased its stake in Bio-Rad Laboratories by 27,700.0% in the second quarter. California State Teachers Retirement System now owns 6,097,105 shares of the medical research company's stock valued at $1,790,171,000 after acquiring an additional 6,075,173 shares during the period. Dimensional Fund Advisors LP lifted its stake in Bio-Rad Laboratories by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,089,323 shares of the medical research company's stock worth $303,637,000 after purchasing an additional 12,251 shares during the period. Capital Research Global Investors boosted its holdings in Bio-Rad Laboratories by 18.2% during the fourth quarter. Capital Research Global Investors now owns 494,472 shares of the medical research company's stock valued at $149,820,000 after purchasing an additional 76,117 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Bio-Rad Laboratories by 57.8% during the second quarter. Assenagon Asset Management S.A. now owns 233,227 shares of the medical research company's stock valued at $68,478,000 after purchasing an additional 85,393 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of Bio-Rad Laboratories by 6.2% in the 4th quarter. Westfield Capital Management Co. LP now owns 165,107 shares of the medical research company's stock valued at $50,026,000 after purchasing an additional 9,583 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock opened at $369.46 on Tuesday. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 44.78 and a beta of 1.07. The firm's 50-day moving average price is $345.85 and its two-hundred day moving average price is $304.10. The company has a current ratio of 3.14, a quick ratio of 2.33 and a debt-to-equity ratio of 0.11. Bio-Rad Laboratories, Inc. has a 1-year low of $236.73 and a 1-year high of $396.23.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.87. The company had revenue of $651.00 million during the quarter, compared to analysts' expectations of $623.99 million. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. Bio-Rad Laboratories's quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.61 earnings per share. On average, equities analysts predict that Bio-Rad Laboratories, Inc. will post 9.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Zacks Research raised Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Weiss Ratings upgraded Bio-Rad Laboratories from a "sell (d)" rating to a "hold (c-)" rating in a research report on Monday, August 17th. Citigroup upped their price target on Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a "hold" rating in a research report on Wednesday, August 5th. Wells Fargo & Company lifted their price objective on Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an "equal weight" rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada boosted their target price on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $343.33.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a life science research and clinical diagnostics company headquartered in Hercules, California. Founded in 1952 by David and Alice Schwartz, the company develops, manufactures and markets products used by academic, pharmaceutical, biotechnology, healthcare and government customers.

Its Life Science segment provides instruments, reagents, consumables and software for applications including genomics, digital PCR, gene expression analysis, protein purification, cell biology and biopharmaceutical quality control.

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