Bio-Rad Laboratories, Inc. (NYSE:BIO) Stake Boosted by Quantitative Systematic Strategies LLC

Quantitative Systematic Strategies LLC raised its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 227.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,093 shares of the medical research company’s stock after acquiring an additional 2,149 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Bio-Rad Laboratories were worth $967,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. American Century Companies Inc. grew its stake in Bio-Rad Laboratories by 14.7% during the 1st quarter. American Century Companies Inc. now owns 788,955 shares of the medical research company’s stock valued at $241,168,000 after acquiring an additional 100,850 shares in the last quarter. Geode Capital Management LLC grew its stake in Bio-Rad Laboratories by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 214,188 shares of the medical research company’s stock valued at $49,738,000 after acquiring an additional 15,557 shares in the last quarter. Norges Bank purchased a new position in Bio-Rad Laboratories during the 4th quarter valued at about $46,327,000. First Trust Advisors LP grew its stake in Bio-Rad Laboratories by 3.7% during the 1st quarter. First Trust Advisors LP now owns 193,600 shares of the medical research company’s stock valued at $59,180,000 after acquiring an additional 6,976 shares in the last quarter. Finally, FMR LLC grew its stake in Bio-Rad Laboratories by 12.7% during the 1st quarter. FMR LLC now owns 182,762 shares of the medical research company’s stock valued at $55,867,000 after acquiring an additional 20,560 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

In related news, EVP Timothy S. Ernst sold 345 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $290.00, for a total value of $100,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.84% of the stock is currently owned by insiders.

Shares of Bio-Rad Laboratories stock traded down $0.60 during trading on Wednesday, hitting $320.21. 2,240 shares of the stock traded hands, compared to its average volume of 164,169. The company has a market capitalization of $9.55 billion, a PE ratio of 54.85, a P/E/G ratio of 3.12 and a beta of 1.21. The company has a current ratio of 4.68, a quick ratio of 3.36 and a debt-to-equity ratio of 0.08. Bio-Rad Laboratories, Inc. has a twelve month low of $220.05 and a twelve month high of $345.15. The business’s fifty day moving average is $313.92.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, August 1st. The medical research company reported $1.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.18. Bio-Rad Laboratories had a return on equity of 3.92% and a net margin of 39.32%. The firm had revenue of $572.60 million during the quarter, compared to analyst estimates of $564.88 million. During the same period in the previous year, the company earned $1.64 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, analysts forecast that Bio-Rad Laboratories, Inc. will post 7.19 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on BIO shares. Deutsche Bank lifted their price target on Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Barclays lifted their price target on Bio-Rad Laboratories from $350.00 to $380.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. They noted that the move was a valuation call. Zacks Investment Research lowered Bio-Rad Laboratories from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, ValuEngine upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $370.00.

About Bio-Rad Laboratories

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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