Clinton Group Inc. Invests $212,000 in Bio-Rad Laboratories, Inc. (BIO)
Clinton Group Inc. bought a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 1,061 shares of the medical research company’s stock, valued at approximately $212,000.
A number of other hedge funds and other institutional investors have also modified their holdings of BIO. Seven Eight Capital LP acquired a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $273,000. Tudor Investment Corp Et Al increased its position in shares of Bio-Rad Laboratories by 1,218.0% in the fourth quarter. Tudor Investment Corp Et Al now owns 59,100 shares of the medical research company’s stock valued at $10,773,000 after buying an additional 54,616 shares during the last quarter. Soros Fund Management LLC acquired a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $401,000. Two Sigma Investments LP increased its position in shares of Bio-Rad Laboratories by 0.9% in the fourth quarter. Two Sigma Investments LP now owns 9,781 shares of the medical research company’s stock valued at $1,783,000 after buying an additional 87 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Bio-Rad Laboratories by 6.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,315 shares of the medical research company’s stock valued at $970,000 after buying an additional 299 shares during the last quarter. 64.08% of the stock is owned by hedge funds and other institutional investors.
Bio-Rad Laboratories, Inc. (NYSE BIO) opened at 220.61 on Friday. The stock has a 50 day moving average price of $222.09 and a 200 day moving average price of $199.75. The firm has a market cap of $6.53 billion, a P/E ratio of 234.19 and a beta of 0.88. Bio-Rad Laboratories, Inc. has a 1-year low of $135.94 and a 1-year high of $230.40.
Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, May 4th. The medical research company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.14. The company had revenue of $500.05 million for the quarter, compared to analysts’ expectations of $477.76 million. Bio-Rad Laboratories had a return on equity of 3.23% and a net margin of 1.35%. Bio-Rad Laboratories’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $0.42 EPS. On average, analysts anticipate that Bio-Rad Laboratories, Inc. will post $2.85 EPS for the current year.
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Several research analysts have recently issued reports on BIO shares. BidaskClub downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating and set a $244.00 price objective for the company in a research note on Monday, May 1st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Bio-Rad Laboratories in a research note on Thursday, April 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $217.25.
Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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