Quantinno Capital Management LP Acquires New Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Quantinno Capital Management LP purchased a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,204 shares of the medical research company’s stock, valued at approximately $403,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BIO. Avior Wealth Management LLC increased its holdings in Bio-Rad Laboratories by 3.3% in the 3rd quarter. Avior Wealth Management LLC now owns 999 shares of the medical research company’s stock valued at $334,000 after purchasing an additional 32 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Bio-Rad Laboratories by 140.6% in the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after acquiring an additional 45 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Bio-Rad Laboratories by 193.8% in the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 62 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Bio-Rad Laboratories by 9.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 947 shares of the medical research company’s stock valued at $259,000 after purchasing an additional 82 shares in the last quarter. Finally, Quarry LP lifted its stake in Bio-Rad Laboratories by 38.1% in the third quarter. Quarry LP now owns 297 shares of the medical research company’s stock worth $99,000 after acquiring an additional 82 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BIO has been the topic of several recent analyst reports. Wells Fargo & Company initiated coverage on Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 target price on the stock. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada increased their price target on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Citigroup upped their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $394.20.

Bio-Rad Laboratories Trading Down 1.1 %

Shares of BIO stock opened at $336.28 on Monday. Bio-Rad Laboratories, Inc. has a 1-year low of $262.12 and a 1-year high of $387.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52. The business’s fifty day moving average price is $341.35 and its 200 day moving average price is $321.29. The firm has a market capitalization of $9.41 billion, a PE ratio of -12.30 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.16 by $0.85. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The business had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. During the same quarter in the previous year, the company earned $2.33 EPS. The company’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current fiscal year.

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.