Brandywine Global Investment Management LLC Reduces Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Brandywine Global Investment Management LLC trimmed its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,524 shares of the medical research company’s stock after selling 785 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.05% of Bio-Rad Laboratories worth $4,771,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BIO. Metis Global Partners LLC raised its stake in Bio-Rad Laboratories by 4.4% in the 4th quarter. Metis Global Partners LLC now owns 712 shares of the medical research company’s stock valued at $234,000 after purchasing an additional 30 shares during the last quarter. Signaturefd LLC raised its position in shares of Bio-Rad Laboratories by 13.2% in the fourth quarter. Signaturefd LLC now owns 265 shares of the medical research company’s stock valued at $87,000 after buying an additional 31 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Bio-Rad Laboratories by 41.6% during the fourth quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock valued at $36,000 after buying an additional 32 shares during the period. Thrivent Financial for Lutherans boosted its position in Bio-Rad Laboratories by 0.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company’s stock worth $1,488,000 after acquiring an additional 32 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in Bio-Rad Laboratories by 3.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 900 shares of the medical research company’s stock worth $296,000 after acquiring an additional 34 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock opened at $239.97 on Wednesday. The stock has a market capitalization of $6.72 billion, a P/E ratio of -3.69 and a beta of 0.98. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. The business’s fifty day moving average price is $289.28 and its 200 day moving average price is $321.35. Bio-Rad Laboratories, Inc. has a twelve month low of $235.84 and a twelve month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. As a group, research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BIO. Royal Bank of Canada reissued an “outperform” rating and set a $481.00 price target on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. StockNews.com lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Finally, Wells Fargo & Company dropped their price objective on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $395.20.

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.