Duality Advisers LP Grows Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Duality Advisers LP boosted its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 431.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,564 shares of the medical research company’s stock after purchasing an additional 6,953 shares during the quarter. Duality Advisers LP’s holdings in Bio-Rad Laboratories were worth $2,765,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Signaturefd LLC lifted its position in Bio-Rad Laboratories by 15.8% during the fourth quarter. Signaturefd LLC now owns 352 shares of the medical research company’s stock valued at $114,000 after buying an additional 48 shares in the last quarter. abrdn plc lifted its position in Bio-Rad Laboratories by 68.9% during the fourth quarter. abrdn plc now owns 8,792 shares of the medical research company’s stock valued at $2,839,000 after buying an additional 3,588 shares in the last quarter. Greenleaf Trust acquired a new position in Bio-Rad Laboratories during the fourth quarter valued at approximately $224,000. Federated Hermes Inc. lifted its position in Bio-Rad Laboratories by 28.8% during the fourth quarter. Federated Hermes Inc. now owns 79,490 shares of the medical research company’s stock valued at $25,667,000 after buying an additional 17,762 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Bio-Rad Laboratories by 3.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,902 shares of the medical research company’s stock valued at $614,000 after buying an additional 68 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, February 16th. StockNews.com cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. Citigroup cut shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada reduced their target price on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $468.00.

Bio-Rad Laboratories Trading Down 0.3 %

Shares of Bio-Rad Laboratories stock traded down $0.73 during trading on Monday, hitting $279.00. 47,619 shares of the stock were exchanged, compared to its average volume of 200,727. The stock’s fifty day moving average is $329.85 and its 200 day moving average is $319.77. The company has a quick ratio of 4.34, a current ratio of 5.83 and a debt-to-equity ratio of 0.14. Bio-Rad Laboratories, Inc. has a 12 month low of $261.59 and a 12 month high of $473.50.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.10 EPS for the quarter, topping the consensus estimate of $2.93 by $0.17. The business had revenue of $681.18 million during the quarter, compared to analyst estimates of $685.00 million. Bio-Rad Laboratories had a negative net margin of 23.86% and a positive return on equity of 3.90%. The company’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.31 earnings per share. On average, research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.41 earnings per share for the current year.

Insider Transactions at Bio-Rad Laboratories

In other news, EVP Michael Crowley sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the completion of the transaction, the executive vice president now owns 6,942 shares in the company, valued at $2,332,512. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.50% of the company’s stock.

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.