Marathon Asset Management Ltd Cuts Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Marathon Asset Management Ltd lessened its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,127 shares of the medical research company’s stock after selling 4,410 shares during the period. Marathon Asset Management Ltd’s holdings in Bio-Rad Laboratories were worth $22,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Metis Global Partners LLC raised its holdings in shares of Bio-Rad Laboratories by 4.4% during the fourth quarter. Metis Global Partners LLC now owns 712 shares of the medical research company’s stock worth $234,000 after purchasing an additional 30 shares during the last quarter. Avior Wealth Management LLC raised its stake 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 acquiring an additional 32 shares during the period. UMB Bank n.a. grew its holdings in shares of Bio-Rad Laboratories by 41.6% in the fourth quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock valued at $36,000 after purchasing an additional 32 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Bio-Rad Laboratories by 3.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 900 shares of the medical research company’s stock valued at $296,000 after buying an additional 34 shares during the period. Finally, CIBC Asset Management Inc raised its position in shares of Bio-Rad Laboratories by 5.0% during the 4th quarter. CIBC Asset Management Inc now owns 713 shares of the medical research company’s stock worth $234,000 after acquiring an additional 34 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Performance

Shares of NYSE BIO opened at $264.60 on Monday. The firm has a market cap of $7.41 billion, a P/E ratio of -4.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.85 and a current ratio of 6.48. The stock has a fifty day moving average price of $327.02 and a two-hundred day moving average price of $332.65. Bio-Rad Laboratories, Inc. has a 1 year low of $262.11 and a 1 year high of $387.99.

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, topping 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%. Research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on BIO shares. Royal Bank of Canada restated an “outperform” rating and issued a $481.00 price target on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Wells Fargo & Company reduced their price target on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Finally, StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bio-Rad Laboratories currently has an average rating of “Moderate Buy” and an average price target of $395.20.

Bio-Rad Laboratories 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.