Goldman Sachs Group Inc. Has $46.60 Million Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Goldman Sachs Group Inc. boosted its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 454.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,333 shares of the medical research company’s stock after buying an additional 118,304 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Bio-Rad Laboratories were worth $46,604,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Virtu Financial LLC bought a new stake in Bio-Rad Laboratories in the 4th quarter valued at $330,000. Winslow Asset Management Inc. boosted its holdings in Bio-Rad Laboratories by 2.9% in the 4th quarter. Winslow Asset Management Inc. now owns 22,056 shares of the medical research company’s stock valued at $7,122,000 after purchasing an additional 613 shares during the period. Prelude Capital Management LLC boosted its holdings in Bio-Rad Laboratories by 21.6% in the 4th quarter. Prelude Capital Management LLC now owns 49,549 shares of the medical research company’s stock valued at $15,999,000 after purchasing an additional 8,794 shares during the period. Parkwood LLC bought a new stake in Bio-Rad Laboratories in the 4th quarter valued at $7,634,000. Finally, Parsifal Capital Management LP bought a new stake in Bio-Rad Laboratories in the 4th quarter valued at $61,866,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Trading Down 1.2 %

Shares of BIO stock opened at $285.62 on Friday. Bio-Rad Laboratories, Inc. has a 12-month low of $261.59 and a 12-month high of $431.79. The company has a market capitalization of $8.15 billion, a P/E ratio of -27.57 and a beta of 0.95. The firm has a 50-day moving average price of $285.44 and a 200 day moving average price of $311.58. The company has a quick ratio of 4.89, a current ratio of 6.57 and a debt-to-equity ratio of 0.13.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Tuesday, May 7th. The medical research company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.25. Bio-Rad Laboratories had a negative net margin of 12.37% and a positive return on equity of 3.59%. The firm had revenue of $610.82 million during the quarter, compared to the consensus estimate of $619.09 million. During the same period last year, the firm posted $3.34 EPS. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. Research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on BIO shares. UBS Group reduced their price target on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Citigroup downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $400.00 to $365.00 in a report on Wednesday, April 3rd. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, May 28th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $315.00 price objective (down from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Bio-Rad Laboratories has a consensus rating of “Moderate Buy” and an average price target of $436.67.

Insider Activity at Bio-Rad Laboratories

In related news, EVP Michael Crowley sold 369 shares of Bio-Rad Laboratories stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $281.91, for a total transaction of $104,024.79. Following the completion of the transaction, the executive vice president now directly owns 6,573 shares of the company’s stock, valued at approximately $1,852,994.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.06% of the stock is currently owned by insiders.

Bio-Rad Laboratories Company Profile

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.