Bio-Rad Laboratories, Inc. (NYSE:BIO) Stock Holdings Lessened by Veritas Asset Management LLP

Veritas Asset Management LLP lowered its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 976,827 shares of the medical research company’s stock after selling 109,652 shares during the period. Bio-Rad Laboratories accounts for 3.0% of Veritas Asset Management LLP’s portfolio, making the stock its 16th largest holding. Veritas Asset Management LLP’s holdings in Bio-Rad Laboratories were worth $320,897,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank grew its holdings in Bio-Rad Laboratories by 2.0% during the fourth quarter. Amalgamated Bank now owns 9,214 shares of the medical research company’s stock valued at $3,027,000 after purchasing an additional 181 shares during the last quarter. Blackhawk Capital Partners LLC. lifted its position in Bio-Rad Laboratories by 190.5% in the fourth quarter. Blackhawk Capital Partners LLC. now owns 2,176 shares of the medical research company’s stock worth $715,000 after purchasing an additional 1,427 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Bio-Rad Laboratories by 52.6% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 3,480 shares of the medical research company’s stock valued at $1,143,000 after acquiring an additional 1,200 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Bio-Rad Laboratories by 7.6% during the fourth quarter. Handelsbanken Fonder AB now owns 5,672 shares of the medical research company’s stock valued at $1,863,000 after acquiring an additional 400 shares during the period. Finally, Kornitzer Capital Management Inc. KS increased its stake in shares of Bio-Rad Laboratories by 2.0% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 39,303 shares of the medical research company’s stock valued at $12,911,000 after buying an additional 786 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

Shares of Bio-Rad Laboratories stock opened at $280.20 on Tuesday. 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 has a 50-day moving average price of $331.62 and a two-hundred day moving average price of $334.10. Bio-Rad Laboratories, Inc. has a 1-year low of $262.12 and a 1-year high of $387.99. The company has a market cap of $7.85 billion, a P/E ratio of -4.31 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, February 13th. The medical research company reported $2.90 EPS 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, analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Citigroup boosted their target price 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. StockNews.com lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Finally, Wells Fargo & Company lowered their price target on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.