Koss Olinger Consulting LLC Sells 2,563 Shares of Bio-Rad Laboratories, Inc. $BIO

Koss Olinger Consulting LLC lowered its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 42.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,488 shares of the medical research company’s stock after selling 2,563 shares during the period. Koss Olinger Consulting LLC’s holdings in Bio-Rad Laboratories were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BIO. Capital Research Global Investors bought a new position in Bio-Rad Laboratories in the third quarter valued at $117,303,000. Massachusetts Financial Services Co. MA grew its position in Bio-Rad Laboratories by 4,534.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 399,207 shares of the medical research company’s stock valued at $120,956,000 after purchasing an additional 390,593 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Bio-Rad Laboratories by 2,271.3% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 397,171 shares of the medical research company’s stock valued at $111,363,000 after purchasing an additional 380,422 shares in the last quarter. Mangrove Partners IM LLC bought a new position in Bio-Rad Laboratories in the third quarter valued at $35,568,000. Finally, Norges Bank bought a new position in Bio-Rad Laboratories in the fourth quarter valued at $34,600,000. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

BIO has been the subject of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Weiss Ratings downgraded shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Citigroup downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their target price for the company from $375.00 to $300.00 in a research report on Tuesday, April 7th. Wall Street Zen downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Royal Bank Of Canada initiated coverage on shares of Bio-Rad Laboratories in a research note on Friday, May 15th. They issued an “outperform” rating and a $320.00 price target for the company. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $303.33.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $312.72 on Friday. The stock has a market cap of $8.37 billion, a P/E ratio of 51.52 and a beta of 1.06. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.21 and a quick ratio of 2.37. The company has a fifty day moving average price of $278.57 and a two-hundred day moving average price of $292.14. Bio-Rad Laboratories, Inc. has a one year low of $211.43 and a one year high of $343.12.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.08). The firm had revenue of $592.10 million during the quarter, compared to analyst estimates of $589.91 million. Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.54 EPS. As a group, equities analysts predict that Bio-Rad Laboratories, Inc. will post 9.42 EPS for the current year.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.