Wellington Management Group LLP Grows Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Wellington Management Group LLP raised its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 56.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,016 shares of the medical research company’s stock after buying an additional 3,601 shares during the quarter. Wellington Management Group LLP’s holdings in Bio-Rad Laboratories were worth $3,351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BIO. Capital Advisors Ltd. LLC raised its stake in 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 buying an additional 62 shares during the last quarter. UMB Bank n.a. raised its stake in 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 valued at $26,000 after buying an additional 45 shares during the last quarter. Gladius Capital Management LP purchased a new stake in Bio-Rad Laboratories in the third quarter valued at about $32,000. Headlands Technologies LLC purchased a new stake in Bio-Rad Laboratories in the second quarter valued at about $51,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Bio-Rad Laboratories in the third quarter valued at about $55,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Down 1.7 %

Shares of BIO stock opened at $337.28 on Wednesday. The stock has a 50 day moving average of $341.35 and a 200 day moving average of $322.07. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. The stock has a market cap of $9.44 billion, a P/E ratio of -12.34 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a twelve month low of $262.12 and a twelve month high of $387.99.

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

Analyst Ratings Changes

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

Bio-Rad Laboratories 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.