Select Equity Group L.P. Lowers Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Select Equity Group L.P. reduced its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 35.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 460,658 shares of the medical research company's stock after selling 247,794 shares during the period. Select Equity Group L.P. owned about 1.65% of Bio-Rad Laboratories worth $151,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in 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 purchasing an additional 21,669 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Bio-Rad Laboratories by 28.2% in the 4th quarter. Park Avenue Securities LLC now owns 2,291 shares of the medical research company's stock worth $753,000 after purchasing an additional 504 shares during the period. Gateway Investment Advisers LLC boosted its position in shares of Bio-Rad Laboratories by 47.5% during the 4th quarter. Gateway Investment Advisers LLC now owns 1,158 shares of the medical research company's stock valued at $380,000 after purchasing an additional 373 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Bio-Rad Laboratories during the 4th quarter valued at $28,740,000. Finally, Polianta Ltd increased its stake in Bio-Rad Laboratories by 21.2% during the 4th quarter. Polianta Ltd now owns 4,000 shares of the medical research company's stock valued at $1,314,000 after purchasing an additional 700 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock traded down $1.88 during midday trading on Tuesday, hitting $246.78. 178,728 shares of the company were exchanged, compared to its average volume of 318,698. The firm has a market capitalization of $6.91 billion, a PE ratio of -3.79 and a beta of 1.00. 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 debt-to-equity ratio of 0.18, a quick ratio of 4.85 and a current ratio of 6.48. The business has a fifty day simple moving average of $243.39 and a two-hundred day simple moving average of $297.26.

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 for the quarter, topping the consensus estimate of $1.73 by $0.81. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. The company had revenue of $585.40 million during 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. On average, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Wall Street Analyst Weigh In

BIO has been the subject of a number of recent research reports. StockNews.com downgraded Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Monday, February 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, May 2nd. Wells Fargo & Company lowered their price target 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. UBS Group cut their target price on 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 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 report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.