Wellington Management Group LLP Sells 9,206 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Wellington Management Group LLP trimmed its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 91.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 810 shares of the medical research company's stock after selling 9,206 shares during the period. Wellington Management Group LLP's holdings in Bio-Rad Laboratories were worth $266,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC purchased a new position in shares of Bio-Rad Laboratories in the 4th quarter worth about $342,686,000. Bank of America Corp DE raised its position in 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 acquiring an additional 374,269 shares during the period. Ariel Investments LLC boosted its stake in 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 valued at $184,138,000 after acquiring an additional 181,829 shares during the last quarter. Norges Bank bought a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at approximately $41,644,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Bio-Rad Laboratories by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 746,119 shares of the medical research company's stock worth $245,106,000 after purchasing an additional 91,690 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $220.42 on Friday. Bio-Rad Laboratories, Inc. has a 52-week low of $211.43 and a 52-week high of $387.99. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of -3.39 and a beta of 0.93. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.85 and a current ratio of 6.48. The business's fifty day moving average is $236.54 and its 200 day moving average is $285.36.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wall Street Zen downgraded Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Sunday. Royal Bank of Canada lowered their target price on 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. Citigroup dropped their price target on 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. UBS Group decreased their price objective on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Wells Fargo & Company lowered their price objective on Bio-Rad Laboratories from $320.00 to $270.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $330.50.

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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