Freestone Grove Partners LP Acquires Shares of 46,015 Bio-Rad Laboratories, Inc. (NYSE:BIO)

Freestone Grove Partners LP purchased a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 46,015 shares of the medical research company's stock, valued at approximately $15,116,000. Freestone Grove Partners LP owned 0.16% of Bio-Rad Laboratories as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BIO. Retirement Systems of Alabama boosted its stake in Bio-Rad Laboratories by 416.9% in the 3rd quarter. Retirement Systems of Alabama now owns 23,260 shares of the medical research company's stock worth $7,782,000 after buying an additional 18,760 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Bio-Rad Laboratories by 95.6% during the 3rd quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company's stock worth $14,836,000 after acquiring an additional 21,669 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Bio-Rad Laboratories by 24.3% during the 4th quarter. GAMMA Investing LLC now owns 665 shares of the medical research company's stock worth $218,000 after acquiring an additional 130 shares during the period. Diversified Trust Co acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter worth approximately $958,000. Finally, Harbor Capital Advisors Inc. grew its holdings in Bio-Rad Laboratories by 4.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 7,824 shares of the medical research company's stock valued at $2,570,000 after purchasing an additional 321 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Up 1.7 %

NYSE BIO traded up $3.97 during trading hours on Monday, hitting $240.31. The company had a trading volume of 286,792 shares, compared to its average volume of 320,278. The firm's 50 day moving average is $246.93 and its 200 day moving average is $304.68. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85. Bio-Rad Laboratories, Inc. has a fifty-two week low of $215.38 and a fifty-two week high of $387.99. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of -3.69 and a beta of 1.12.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.30 earnings per share. Sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BIO shares. Wells Fargo & Company decreased their price target on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Citigroup reduced their target price on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Friday. StockNews.com downgraded Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. UBS Group cut their price objective on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a report on Friday. Finally, Royal Bank of Canada decreased 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Bio-Rad Laboratories has a consensus rating of "Moderate Buy" and an average price target of $327.40.

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.