Man Group plc Acquires New Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Man Group plc bought a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,718 shares of the medical research company’s stock, valued at approximately $2,535,000.

Several other hedge funds also recently modified their holdings of BIO. Venturi Wealth Management LLC boosted its holdings in Bio-Rad Laboratories by 2,175.0% in the fourth quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock worth $30,000 after purchasing an additional 87 shares in the last quarter. GeoWealth Management LLC lifted its position in shares of Bio-Rad Laboratories by 342.9% in the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company’s stock worth $31,000 after buying an additional 72 shares during the last quarter. Picton Mahoney Asset Management boosted its stake in shares of Bio-Rad Laboratories by 55.6% during the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock worth $32,000 after acquiring an additional 35 shares in the last quarter. Asset Planning Inc bought a new stake in shares of Bio-Rad Laboratories during the 4th quarter worth about $33,000. Finally, UMB Bank n.a. increased its holdings in shares of Bio-Rad Laboratories by 41.6% during the 4th quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock valued at $36,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Down 0.3%

Shares of BIO stock opened at $227.39 on Friday. The firm has a market capitalization of $6.19 billion, a P/E ratio of -3.50 and a beta of 1.00. Bio-Rad Laboratories, Inc. has a 1 year low of $215.38 and a 1 year high of $387.99. The firm’s fifty day simple moving average is $242.31 and its 200 day simple moving average is $295.46. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.81. The company had revenue of $585.40 million for the quarter, compared to the consensus estimate of $573.01 million. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.30 EPS. As a group, sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Analyst Upgrades and Downgrades

BIO has been the subject of several analyst reports. Wall Street Zen lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Citigroup dropped their price target on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Royal Bank of Canada decreased their price objective on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. UBS Group dropped their target price on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Finally, Wells Fargo & Company cut their target price on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Bio-Rad Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.40.

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.