Verition Fund Management LLC Has $1.16 Million Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Verition Fund Management LLC increased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 193.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,470 shares of the medical research company’s stock after purchasing an additional 2,287 shares during the period. Verition Fund Management LLC’s holdings in Bio-Rad Laboratories were worth $1,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC raised its holdings in shares of Bio-Rad Laboratories by 3.3% in the 3rd quarter. Avior Wealth Management LLC now owns 999 shares of the medical research company’s stock valued at $334,000 after purchasing an additional 32 shares during the period. UMB Bank n.a. raised its stake in Bio-Rad Laboratories by 140.6% in the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after buying an additional 45 shares during the period. Capital Advisors Ltd. LLC lifted its position in shares of Bio-Rad Laboratories by 193.8% in the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after buying an additional 62 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Bio-Rad Laboratories by 9.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 947 shares of the medical research company’s stock worth $259,000 after acquiring an additional 82 shares during the period. Finally, Creative Planning raised its stake in Bio-Rad Laboratories by 6.0% in the 3rd quarter. Creative Planning now owns 1,632 shares of the medical research company’s stock valued at $546,000 after acquiring an additional 93 shares during the period. 65.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on BIO. Wells Fargo & Company initiated coverage on shares of Bio-Rad Laboratories in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price objective for the company. Royal Bank of Canada upped their price target on shares of Bio-Rad Laboratories from $446.00 to $469.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Citigroup raised their price objective on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $391.80.

Bio-Rad Laboratories Stock Performance

NYSE BIO opened at $325.50 on Friday. The firm has a 50-day moving average price of $341.22 and a two-hundred day moving average price of $319.21. Bio-Rad Laboratories, Inc. has a 12-month low of $262.12 and a 12-month high of $387.99. The company has a market capitalization of $9.11 billion, a P/E ratio of -11.91 and a beta of 0.90. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.85. The business had revenue of $649.70 million for the quarter, compared to the consensus estimate of $628.18 million. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.33 earnings per share. Analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current year.

Bio-Rad Laboratories Company Profile

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.