Bio-Rad Laboratories (BIO) Stake Increased by Verition Fund Management LLC

Verition Fund Management LLC increased its position in shares of Bio-Rad Laboratories (NYSE:BIO) by 72.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,890 shares of the medical research company’s stock after purchasing an additional 1,628 shares during the period. Verition Fund Management LLC’s holdings in Bio-Rad Laboratories were worth $928,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Millennium Management LLC raised its position in shares of Bio-Rad Laboratories by 112.3% during the 4th quarter. Millennium Management LLC now owns 180,002 shares of the medical research company’s stock valued at $42,961,000 after purchasing an additional 95,235 shares during the period. Raymond James & Associates raised its position in shares of Bio-Rad Laboratories by 2.9% during the 4th quarter. Raymond James & Associates now owns 8,569 shares of the medical research company’s stock valued at $2,045,000 after purchasing an additional 244 shares during the period. California State Teachers Retirement System raised its position in shares of Bio-Rad Laboratories by 0.6% during the 4th quarter. California State Teachers Retirement System now owns 35,249 shares of the medical research company’s stock valued at $8,413,000 after purchasing an additional 206 shares during the period. Two Sigma Investments LP raised its position in shares of Bio-Rad Laboratories by 64.2% during the 4th quarter. Two Sigma Investments LP now owns 84,915 shares of the medical research company’s stock valued at $20,267,000 after purchasing an additional 33,199 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of Bio-Rad Laboratories by 527.3% during the 4th quarter. Two Sigma Advisers LP now owns 22,365 shares of the medical research company’s stock valued at $5,338,000 after purchasing an additional 18,800 shares during the period. Hedge funds and other institutional investors own 64.51% of the company’s stock.

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A number of analysts have issued reports on the stock. Jefferies Group lifted their price target on shares of Bio-Rad Laboratories to $325.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Wells Fargo reiterated an “outperform” rating and issued a $290.00 price target (up from $250.00) on shares of Bio-Rad Laboratories in a report on Wednesday, November 29th. Citigroup lifted their price target on shares of Bio-Rad Laboratories to $325.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. CL King downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating in a report on Friday, February 16th. Finally, Zacks Investment Research upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $291.00 price target on the stock in a report on Wednesday, December 13th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $295.20.

Shares of Bio-Rad Laboratories (BIO) opened at $263.00 on Friday. The company has a quick ratio of 2.75, a current ratio of 3.93 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7,827.67, a price-to-earnings ratio of 77.35, a price-to-earnings-growth ratio of 2.24 and a beta of 0.89. Bio-Rad Laboratories has a fifty-two week low of $194.01 and a fifty-two week high of $279.59.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Tuesday, February 27th. The medical research company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.22. The company had revenue of $620.43 million for the quarter, compared to the consensus estimate of $618.89 million. Bio-Rad Laboratories had a net margin of 5.31% and a return on equity of 3.63%. equities research analysts predict that Bio-Rad Laboratories will post 5.86 earnings per share for the current year.

Bio-Rad Laboratories declared that its Board of Directors has approved a share repurchase program on Tuesday, November 28th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

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About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.

Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

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