RK Asset Management LLC Sells 911 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

RK Asset Management LLC cut its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,626 shares of the medical research company’s stock after selling 911 shares during the period. Bio-Rad Laboratories makes up 3.9% of RK Asset Management LLC’s portfolio, making the stock its 15th largest position. RK Asset Management LLC owned 0.05% of Bio-Rad Laboratories worth $4,805,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Bio-Rad Laboratories by 24.3% in the fourth quarter. GAMMA Investing LLC now owns 665 shares of the medical research company’s stock valued at $218,000 after purchasing an additional 130 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Bio-Rad Laboratories by 95.6% during the 3rd quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock valued at $14,836,000 after buying an additional 21,669 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Bio-Rad Laboratories by 416.9% in the 3rd quarter. Retirement Systems of Alabama now owns 23,260 shares of the medical research company’s stock worth $7,782,000 after acquiring an additional 18,760 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Bio-Rad Laboratories by 17.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 28,523 shares of the medical research company’s stock valued at $9,543,000 after acquiring an additional 4,138 shares during the period. Finally, Neo Ivy Capital Management bought a new position in shares of Bio-Rad Laboratories during the third quarter valued at about $878,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Up 1.4 %

Bio-Rad Laboratories stock traded up $4.59 during mid-day trading on Friday, reaching $330.75. The stock had a trading volume of 108,467 shares, compared to its average volume of 108,533. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of -12.10 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52. Bio-Rad Laboratories, Inc. has a one year low of $262.12 and a one year high of $387.99. The company has a 50-day moving average price of $338.94 and a two-hundred day moving average price of $325.12.

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

Wall Street Analyst Weigh In

BIO has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price target on Bio-Rad Laboratories from $369.00 to $481.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Citigroup lifted their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company 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.