Russell Investments Group Ltd. Raises Holdings in Bio-Rad Laboratories, Inc. (BIO)

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Russell Investments Group Ltd. increased its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 37.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,667 shares of the medical research company’s stock after acquiring an additional 34,042 shares during the period. Russell Investments Group Ltd. owned approximately 0.42% of Bio-Rad Laboratories worth $39,282,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB increased its holdings in shares of Bio-Rad Laboratories by 7.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 2,772 shares of the medical research company’s stock worth $800,000 after acquiring an additional 200 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Bio-Rad Laboratories by 1.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 13,631 shares of the medical research company’s stock worth $3,933,000 after acquiring an additional 246 shares during the period. Winslow Asset Management Inc. increased its holdings in shares of Bio-Rad Laboratories by 1.2% in the 2nd quarter. Winslow Asset Management Inc. now owns 28,276 shares of the medical research company’s stock worth $8,159,000 after acquiring an additional 325 shares during the period. American International Group Inc. increased its holdings in shares of Bio-Rad Laboratories by 0.8% in the 2nd quarter. American International Group Inc. now owns 40,782 shares of the medical research company’s stock worth $11,767,000 after acquiring an additional 326 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of Bio-Rad Laboratories by 3.0% in the 2nd quarter. Arizona State Retirement System now owns 14,062 shares of the medical research company’s stock worth $4,057,000 after acquiring an additional 411 shares during the period. 63.26% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently weighed in on BIO shares. Jefferies Financial Group increased their price objective on shares of Bio-Rad Laboratories from $325.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. Goldman Sachs Group started coverage on shares of Bio-Rad Laboratories in a report on Wednesday, October 17th. They issued a “buy” rating and a $350.00 price objective on the stock. Morgan Stanley started coverage on shares of Bio-Rad Laboratories in a report on Thursday, September 20th. They issued an “equal weight” rating and a $335.00 price objective on the stock. Barclays started coverage on shares of Bio-Rad Laboratories in a report on Wednesday, September 5th. They issued an “equal weight” rating and a $345.00 price objective on the stock. Finally, Zacks Investment Research cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Bio-Rad Laboratories presently has a consensus rating of “Buy” and a consensus target price of $342.71.

Bio-Rad Laboratories stock opened at $272.85 on Thursday. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 66.55, a P/E/G ratio of 2.82 and a beta of 0.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.17 and a current ratio of 4.50. Bio-Rad Laboratories, Inc. has a 52 week low of $214.44 and a 52 week high of $345.15.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Tuesday, August 7th. The medical research company reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.37. The firm had revenue of $575.91 million for the quarter, compared to analysts’ expectations of $551.05 million. Bio-Rad Laboratories had a net margin of 44.77% and a return on equity of 4.23%. As a group, research analysts forecast that Bio-Rad Laboratories, Inc. will post 6.38 earnings per share for the current year.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.

See Also: Hedge Funds Explained

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Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

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