Bio-Rad Laboratories, Inc. (NYSE:BIO) Sees Significant Growth in Short Interest

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 1,320,000 shares, a growth of 23.4% from the April 30th total of 1,070,000 shares. Approximately 7.2% of the company's stock are short sold. Based on an average daily trading volume, of 367,200 shares, the short-interest ratio is presently 3.6 days.

Bio-Rad Laboratories Trading Down 1.2%

Shares of Bio-Rad Laboratories stock traded down $2.59 during trading on Thursday, reaching $219.46. 263,162 shares of the company were exchanged, compared to its average volume of 326,220. The business has a 50-day moving average price of $237.43 and a 200-day moving average price of $286.96. The company has a quick ratio of 4.85, a current ratio of 6.48 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of -3.37 and a beta of 1.00. Bio-Rad Laboratories has a twelve month low of $211.43 and a twelve month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced 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 analysts' expectations 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 business's revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.30 EPS. Sell-side analysts anticipate that Bio-Rad Laboratories will post 10.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quarry LP bought a new stake in Bio-Rad Laboratories in the first quarter valued at approximately $29,000. Venturi Wealth Management LLC grew its position in Bio-Rad Laboratories by 2,175.0% in the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company's stock worth $30,000 after purchasing an additional 87 shares in the last quarter. GeoWealth Management LLC increased its position in shares of Bio-Rad Laboratories by 342.9% during the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock valued at $31,000 after acquiring an additional 72 shares during the last quarter. Picton Mahoney Asset Management increased its position in shares of Bio-Rad Laboratories by 55.6% during the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock valued at $32,000 after purchasing an additional 35 shares during the last quarter. Finally, Asset Planning Inc bought a new stake in Bio-Rad Laboratories in the fourth quarter worth about $33,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BIO shares. Royal Bank of Canada reduced their price target on shares of 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. Wells Fargo & Company decreased their price objective on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Citigroup dropped their target price on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. UBS Group cut their price target on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.