Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Free Report) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 655,500 shares, a growth of 18.8% from the December 15th total of 551,600 shares. Currently, 3.4% of the company’s stock are sold short. Based on an average trading volume of 183,600 shares, the days-to-cover ratio is presently 3.6 days.
Institutional Trading of Bio-Rad Laboratories
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in Bio-Rad Laboratories by 97.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock worth $436,861,000 after acquiring an additional 644,530 shares during the period. Select Equity Group L.P. lifted its holdings in shares of Bio-Rad Laboratories by 26.2% in the 2nd quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock valued at $177,391,000 after buying an additional 134,856 shares during the period. First Eagle Investment Management LLC lifted its holdings in shares of Bio-Rad Laboratories by 32,296.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock valued at $173,773,000 after buying an additional 634,311 shares during the period. Earnest Partners LLC lifted its holdings in shares of Bio-Rad Laboratories by 17.8% in the 2nd quarter. Earnest Partners LLC now owns 606,788 shares of the medical research company’s stock valued at $165,720,000 after buying an additional 91,882 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Bio-Rad Laboratories by 64.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company’s stock valued at $135,081,000 after buying an additional 193,700 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.
Bio-Rad Laboratories Stock Down 0.4 %
BIO stock traded down $1.52 on Friday, hitting $342.95. 124,273 shares of the company’s stock were exchanged, compared to its average volume of 140,854. Bio-Rad Laboratories has a 12-month low of $262.12 and a 12-month high of $387.99. The firm has a 50 day moving average price of $336.49 and a two-hundred day moving average price of $330.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. The stock has a market cap of $9.60 billion, a P/E ratio of -12.55 and a beta of 0.90.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on BIO shares. Citigroup lifted 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. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Bio-Rad Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $394.20.
Get Our Latest Report on Bio-Rad Laboratories
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.
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