Bio-Rad Laboratories, Inc. (BIO) Holdings Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 1.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 89,670 shares of the medical research company’s stock after selling 1,307 shares during the period. Principal Financial Group Inc. owned about 0.30% of Bio-Rad Laboratories worth $20,823,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Enlightenment Research LLC acquired a new position in shares of Bio-Rad Laboratories during the 4th quarter worth approximately $70,000. South Dakota Investment Council acquired a new position in Bio-Rad Laboratories in the fourth quarter valued at approximately $116,000. First Republic Investment Management Inc. acquired a new position in Bio-Rad Laboratories in the third quarter valued at approximately $208,000. NumerixS Investment Technologies Inc acquired a new position in Bio-Rad Laboratories in the fourth quarter valued at approximately $219,000. Finally, Brown Advisory Inc. lifted its holdings in Bio-Rad Laboratories by 15.0% in the fourth quarter. Brown Advisory Inc. now owns 1,067 shares of the medical research company’s stock valued at $248,000 after acquiring an additional 139 shares during the last quarter. Institutional investors and hedge funds own 63.63% of the company’s stock.

NYSE:BIO traded up $2.30 during trading hours on Friday, hitting $294.13. The company’s stock had a trading volume of 262,702 shares, compared to its average volume of 214,258. The firm has a market capitalization of $8.76 billion, a PE ratio of 50.36, a price-to-earnings-growth ratio of 2.74 and a beta of 1.27. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.49 and a quick ratio of 3.19. Bio-Rad Laboratories, Inc. has a 52-week low of $220.05 and a 52-week high of $345.15.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, February 28th. The medical research company reported $2.13 EPS for the quarter, beating the consensus estimate of $1.61 by $0.52. Bio-Rad Laboratories had a return on equity of 3.92% and a net margin of 15.76%. The firm had revenue of $617.54 million for the quarter, compared to analyst estimates of $610.65 million. As a group, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 7.16 EPS for the current year.

A number of research firms have commented on BIO. Zacks Investment Research upgraded Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $360.00 price target on the stock in a research note on Wednesday, March 6th. Barclays upgraded Bio-Rad Laboratories from an “equal weight” rating to an “overweight” rating and set a $315.00 price target on the stock in a research note on Thursday, January 3rd. Finally, Deutsche Bank upped their price target on Bio-Rad Laboratories from $330.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $359.17.

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Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.

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Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

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