Tidal Investments LLC Sells 2,077 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Tidal Investments LLC lessened its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 70.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 883 shares of the medical research company’s stock after selling 2,077 shares during the quarter. Tidal Investments LLC’s holdings in Bio-Rad Laboratories were worth $295,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BIO. Van ECK Associates Corp bought a new position in Bio-Rad Laboratories in the second quarter worth approximately $180,040,000. First Eagle Investment Management LLC raised its position in shares of Bio-Rad Laboratories by 32,296.9% during the second quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock worth $173,773,000 after purchasing an additional 634,311 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Bio-Rad Laboratories in the 3rd quarter worth $83,681,000. Dimensional Fund Advisors LP grew its position in Bio-Rad Laboratories by 64.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company’s stock valued at $135,081,000 after purchasing an additional 193,700 shares during the period. Finally, Select Equity Group L.P. increased its stake in Bio-Rad Laboratories by 26.2% during the 2nd quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock valued at $177,391,000 after purchasing an additional 134,856 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock opened at $330.53 on Wednesday. The stock has a market cap of $9.25 billion, a P/E ratio of -12.09 and a beta of 0.90. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average price is $340.22 and its two-hundred day moving average price is $323.44. Bio-Rad Laboratories, Inc. has a 52 week low of $262.12 and a 52 week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 earnings per share 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 analysts’ expectations of $628.18 million. During the same quarter in the previous year, the firm earned $2.33 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts predict that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current 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.