Gladius Capital Management LP Raises Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Gladius Capital Management LP boosted its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 65.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121 shares of the medical research company’s stock after buying an additional 48 shares during the quarter. Gladius Capital Management LP’s holdings in Bio-Rad Laboratories were worth $39,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BIO. Charles Schwab Investment Management Inc. increased its holdings in Bio-Rad Laboratories by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 214,234 shares of the medical research company’s stock worth $69,174,000 after purchasing an additional 10,040 shares during the period. Natixis Advisors L.P. grew its holdings in Bio-Rad Laboratories by 17.9% during the 4th quarter. Natixis Advisors L.P. now owns 20,744 shares of the medical research company’s stock worth $6,698,000 after acquiring an additional 3,152 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Bio-Rad Laboratories by 48.7% in the 4th quarter. Victory Capital Management Inc. now owns 17,671 shares of the medical research company’s stock valued at $5,706,000 after purchasing an additional 5,790 shares during the last quarter. Skylands Capital LLC purchased a new stake in shares of Bio-Rad Laboratories during the 4th quarter worth $694,000. Finally, Sector Gamma AS acquired a new position in shares of Bio-Rad Laboratories during the fourth quarter worth $7,623,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BIO shares. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. UBS Group decreased their target price on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their price target for the company from $400.00 to $365.00 in a research note on Wednesday, April 3rd. Finally, Royal Bank of Canada lowered their target price on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating for the company in a report on Friday, February 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bio-Rad Laboratories currently has an average rating of “Moderate Buy” and an average target price of $461.00.

Insider Buying and Selling at Bio-Rad Laboratories

In other news, EVP Michael Crowley sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the completion of the sale, the executive vice president now owns 6,942 shares in the company, valued at $2,332,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 17.50% of the company’s stock.

Bio-Rad Laboratories Stock Performance

NYSE BIO traded up $9.05 on Thursday, reaching $277.31. The stock had a trading volume of 200,651 shares, compared to its average volume of 206,637. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.34 and a current ratio of 5.83. The stock has a market cap of $7.91 billion, a P/E ratio of -12.90 and a beta of 0.94. The business’s 50-day moving average price is $314.19 and its 200 day moving average price is $313.69. Bio-Rad Laboratories, Inc. has a 12-month low of $261.59 and a 12-month high of $431.79.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Tuesday, May 7th. The medical research company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.25. The firm had revenue of $610.82 million during the quarter, compared to analysts’ expectations of $619.09 million. Bio-Rad Laboratories had a negative net margin of 23.86% and a positive return on equity of 3.90%. Bio-Rad Laboratories’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.34 EPS. As a group, equities analysts expect that Bio-Rad Laboratories, Inc. will post 10.41 earnings per share for the current year.

Bio-Rad Laboratories Profile

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.