BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $1.11 Million Stock Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 12.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,324 shares of the medical research company’s stock after selling 488 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Bio-Rad Laboratories were worth $1,112,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its stake in Bio-Rad Laboratories by 32,296.9% during the second quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock worth $173,773,000 after buying an additional 634,311 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Bio-Rad Laboratories by 95.6% in the 3rd quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock worth $14,836,000 after acquiring an additional 21,669 shares in the last quarter. Mawer Investment Management Ltd. raised its position in shares of Bio-Rad Laboratories by 63.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company’s stock worth $72,900,000 after acquiring an additional 84,237 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Bio-Rad Laboratories by 341.7% in the 3rd quarter. Louisiana State Employees Retirement System now owns 5,300 shares of the medical research company’s stock valued at $1,773,000 after purchasing an additional 4,100 shares during the period. Finally, Westfield Capital Management Co. LP boosted its position in shares of Bio-Rad Laboratories by 3.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 252,769 shares of the medical research company’s stock valued at $84,571,000 after purchasing an additional 9,584 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

BIO opened at $322.15 on Friday. Bio-Rad Laboratories, Inc. has a 1-year low of $262.12 and a 1-year high of $387.99. The company has a market cap of $9.02 billion, a price-to-earnings ratio of -11.79 and a beta of 0.90. The company’s fifty day moving average price is $341.54 and its two-hundred day moving average price is $318.75. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wells Fargo & Company started coverage on Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price target on the stock. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Citigroup increased their target price on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada lifted their price target on shares of Bio-Rad Laboratories from $446.00 to $469.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Bio-Rad Laboratories currently has an average rating of “Moderate Buy” and an average target price of $391.80.

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.