Bio-Rad Laboratories, Inc. $BIO Shares Sold by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd reduced its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 29.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,095 shares of the medical research company’s stock after selling 8,221 shares during the quarter. ICICI Prudential Asset Management Co Ltd owned 0.07% of Bio-Rad Laboratories worth $5,634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC boosted its stake in shares of Bio-Rad Laboratories by 60.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,517,313 shares of the medical research company’s stock worth $607,478,000 after acquiring an additional 951,123 shares in the last quarter. Norges Bank acquired a new position in Bio-Rad Laboratories during the second quarter worth $30,987,000. Ilex Capital Partners UK LLP boosted its position in Bio-Rad Laboratories by 1,790.3% during the second quarter. Ilex Capital Partners UK LLP now owns 120,885 shares of the medical research company’s stock worth $29,172,000 after purchasing an additional 114,490 shares in the last quarter. Boston Trust Walden Corp purchased a new stake in Bio-Rad Laboratories during the third quarter worth $26,763,000. Finally, Scopia Capital Management LP acquired a new stake in Bio-Rad Laboratories in the second quarter valued at $22,862,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $271.79 on Friday. The stock has a fifty day moving average price of $301.86 and a 200 day moving average price of $301.07. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $343.12. The firm has a market capitalization of $7.33 billion, a P/E ratio of 9.74 and a beta of 1.18. The company has a current ratio of 5.62, a quick ratio of 4.19 and a debt-to-equity ratio of 0.16.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, February 12th. The medical research company reported $2.51 EPS for the quarter, missing the consensus estimate of $2.57 by ($0.06). Bio-Rad Laboratories had a net margin of 29.42% and a return on equity of 3.86%. The business had revenue of $693.20 million during the quarter, compared to analysts’ expectations of $694.64 million. During the same quarter last year, the firm earned $2.90 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research note on Monday, December 29th. Citigroup upped their price target on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Wall Street Zen cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Wells Fargo & Company lifted their price objective on Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $358.50.

About Bio-Rad Laboratories

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.