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

RK Asset Management LLC trimmed its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 5.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,626 shares of the medical research company’s stock after selling 911 shares during the quarter. Bio-Rad Laboratories accounts for approximately 3.9% of RK Asset Management LLC’s holdings, making the stock its 15th largest position. RK Asset Management LLC’s holdings in Bio-Rad Laboratories were worth $4,805,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. lifted its holdings in 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 during the period. Gladius Capital Management LP bought a new position in shares of Bio-Rad Laboratories in the 3rd quarter worth approximately $32,000. Headlands Technologies LLC purchased a new position in shares of Bio-Rad Laboratories in the second quarter worth approximately $51,000. Point72 Hong Kong Ltd bought a new stake in Bio-Rad Laboratories during the third quarter valued at approximately $55,000. Finally, Quarry LP purchased a new stake in Bio-Rad Laboratories during the second quarter valued at approximately $59,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock traded up $4.59 during mid-day trading on Friday, hitting $330.75. The stock had a trading volume of 108,467 shares, compared to its average volume of 108,533. 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 firm’s 50 day moving average is $338.94 and its 200 day moving average is $325.12. The firm has a market capitalization of $9.26 billion, a P/E ratio of -12.10 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a one year low of $262.12 and a one year high of $387.99.

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

Analyst Upgrades and Downgrades

BIO has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Citigroup boosted 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. Finally, StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $394.20.

About Bio-Rad Laboratories

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.