Mangrove Partners IM LLC Invests $35.57 Million in Bio-Rad Laboratories, Inc. $BIO

Mangrove Partners IM LLC purchased a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 126,853 shares of the medical research company’s stock, valued at approximately $35,568,000. Bio-Rad Laboratories comprises about 3.0% of Mangrove Partners IM LLC’s investment portfolio, making the stock its 14th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quent Capital LLC acquired a new stake in shares of Bio-Rad Laboratories during the third quarter worth $25,000. Farther Finance Advisors LLC lifted its stake in Bio-Rad Laboratories by 52.9% in the third quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock valued at $29,000 after buying an additional 36 shares during the period. Geneos Wealth Management Inc. lifted its stake in Bio-Rad Laboratories by 115.2% in the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock valued at $34,000 after buying an additional 76 shares during the period. CWM LLC boosted its holdings in Bio-Rad Laboratories by 82.0% during the third quarter. CWM LLC now owns 202 shares of the medical research company’s stock worth $57,000 after buying an additional 91 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Bio-Rad Laboratories by 24.0% during the third quarter. UMB Bank n.a. now owns 207 shares of the medical research company’s stock worth $58,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research note on Monday, December 29th. Wall Street Zen cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $358.50.

Bio-Rad Laboratories Price Performance

NYSE BIO opened at $262.91 on Friday. The firm’s 50 day moving average is $292.06 and its 200-day moving average is $300.22. The company has a quick ratio of 4.19, a current ratio of 5.62 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $7.10 billion, a PE ratio of 9.42 and a beta of 1.18. Bio-Rad Laboratories, Inc. has a 12-month low of $211.43 and a 12-month high of $343.12.

Bio-Rad Laboratories (NYSE:BIO) last announced its 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). The business had revenue of $693.20 million for the quarter, compared to analyst estimates of $694.64 million. Bio-Rad Laboratories had a return on equity of 3.86% and a net margin of 29.42%.The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.90 EPS. Equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Bio-Rad Laboratories Company 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.