Rovin Capital UT ADV Trims Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Rovin Capital UT ADV cut its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 16.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,667 shares of the medical research company’s stock after selling 332 shares during the period. Rovin Capital UT ADV’s holdings in Bio-Rad Laboratories were worth $548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in BIO. Avior Wealth Management LLC boosted its holdings in Bio-Rad Laboratories by 3.3% in the 3rd quarter. Avior Wealth Management LLC now owns 999 shares of the medical research company’s stock worth $334,000 after buying an additional 32 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Bio-Rad Laboratories by 140.6% in the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 45 shares in the last quarter. Quarry LP lifted its position in shares of Bio-Rad Laboratories by 38.1% in the third quarter. Quarry LP now owns 297 shares of the medical research company’s stock valued at $99,000 after acquiring an additional 82 shares in the last quarter. Creative Planning boosted its stake in shares of Bio-Rad Laboratories by 6.0% in the third quarter. Creative Planning now owns 1,632 shares of the medical research company’s stock worth $546,000 after acquiring an additional 93 shares during the last quarter. Finally, APG Asset Management N.V. increased its position in shares of Bio-Rad Laboratories by 0.7% during the second quarter. APG Asset Management N.V. now owns 14,305 shares of the medical research company’s stock worth $3,645,000 after purchasing an additional 96 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock opened at $343.06 on Thursday. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. The stock has a market cap of $9.60 billion, a P/E ratio of -12.55 and a beta of 0.90. The company has a 50-day moving average price of $337.60 and a 200 day moving average price of $329.16. Bio-Rad Laboratories, Inc. has a 12-month low of $262.12 and a 12-month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The business had revenue of $649.70 million during the quarter, compared to the consensus estimate of $628.18 million. During the same quarter last year, the firm earned $2.33 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a report on Tuesday. Finally, Citigroup increased their price target on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $394.20.

Bio-Rad Laboratories Company 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.