Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by Rovin Capital UT ADV

Rovin Capital UT ADV decreased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 16.6% during the 4th quarter, Holdings Channel.com reports. The fund 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BIO. Contravisory Investment Management Inc. purchased a new stake in Bio-Rad Laboratories during the fourth quarter worth about $569,000. Park Avenue Securities LLC increased its stake in Bio-Rad Laboratories by 28.2% during the 4th quarter. Park Avenue Securities LLC now owns 2,291 shares of the medical research company’s stock worth $753,000 after buying an additional 504 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Bio-Rad Laboratories by 4.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 7,824 shares of the medical research company’s stock worth $2,570,000 after buying an additional 321 shares in the last quarter. Diversified Trust Co purchased a new position in Bio-Rad Laboratories in the 4th quarter valued at approximately $958,000. Finally, GAMMA Investing LLC grew its stake in shares of Bio-Rad Laboratories by 24.3% in the fourth quarter. GAMMA Investing LLC now owns 665 shares of the medical research company’s stock worth $218,000 after acquiring an additional 130 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BIO shares. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $481.00 price target on shares of Bio-Rad Laboratories in a research report on Tuesday. Finally, 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 note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $394.20.

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $343.06 on Thursday. Bio-Rad Laboratories, Inc. has a 12 month low of $262.12 and a 12 month high of $387.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52. The firm has a market capitalization of $9.60 billion, a PE ratio of -12.55 and a beta of 0.90. The business’s fifty day moving average price is $337.60 and its 200 day moving average price is $329.16.

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

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.