Wellington Management Group LLP Makes New Investment in Bio-Rad Laboratories, Inc. $BIO

Wellington Management Group LLP acquired a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 60,249 shares of the medical research company’s stock, valued at approximately $17,690,000.

Several other institutional investors have also recently made changes to their positions in BIO. Public Employees Retirement System of Ohio acquired a new stake in Bio-Rad Laboratories during the 2nd quarter worth about $1,611,000. Westport Asset Management Inc. purchased a new stake in shares of Bio-Rad Laboratories in the second quarter worth about $881,000. Assenagon Asset Management S.A. grew its holdings in Bio-Rad Laboratories by 57.8% during the second quarter. Assenagon Asset Management S.A. now owns 233,227 shares of the medical research company’s stock worth $68,478,000 after acquiring an additional 85,393 shares during the period. Empowered Funds LLC raised its position in Bio-Rad Laboratories by 38.0% during the first quarter. Empowered Funds LLC now owns 2,168 shares of the medical research company’s stock valued at $604,000 after acquiring an additional 597 shares in the last quarter. Finally, Amundi lifted its holdings in Bio-Rad Laboratories by 1,763.4% in the first quarter. Amundi now owns 38,778 shares of the medical research company’s stock valued at $10,809,000 after acquiring an additional 36,697 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO opened at $386.26 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.33 and a current ratio of 3.14. The firm has a fifty day moving average of $336.27 and a 200 day moving average of $299.63. The firm has a market cap of $10.33 billion, a PE ratio of 46.82 and a beta of 1.07. Bio-Rad Laboratories, Inc. has a one year low of $236.73 and a one year high of $396.23.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.87. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. The business had revenue of $651.00 million for the quarter, compared to analyst estimates of $623.99 million. During the same quarter last year, the business earned $2.61 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts predict that Bio-Rad Laboratories, Inc. will post 9.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BIO has been the topic of a number of analyst reports. Weiss Ratings raised shares of Bio-Rad Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Zacks Research raised shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Wells Fargo & Company raised their price target on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada lifted their price objective on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Finally, Citigroup increased their target price on shares of Bio-Rad Laboratories from $300.00 to $330.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $343.33.

Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.