Balyasny Asset Management L.P. Invests $15.46 Million in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Balyasny Asset Management L.P. purchased a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 47,073 shares of the medical research company’s stock, valued at approximately $15,464,000. Balyasny Asset Management L.P. owned about 0.17% of Bio-Rad Laboratories as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in shares of Bio-Rad Laboratories by 705.9% during the 4th quarter. Bank of America Corp DE now owns 427,292 shares of the medical research company’s stock worth $140,370,000 after buying an additional 374,269 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Bio-Rad Laboratories by 1.7% in the 4th quarter. Ameriprise Financial Inc. now owns 34,182 shares of the medical research company’s stock valued at $11,229,000 after purchasing an additional 571 shares during the period. Ariel Investments LLC grew its stake in shares of Bio-Rad Laboratories by 48.0% during the fourth quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company’s stock worth $184,138,000 after purchasing an additional 181,829 shares during the period. AYAL Capital Advisors Ltd acquired a new position in Bio-Rad Laboratories in the fourth quarter valued at about $4,468,000. Finally, Freestone Grove Partners LP acquired a new position in shares of Bio-Rad Laboratories during the 4th quarter worth about $15,116,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Wells Fargo & Company lowered their price objective on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. UBS Group reduced their target price on Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Finally, Citigroup lowered their price target on Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $327.40.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO opened at $240.82 on Friday. The company has a fifty day moving average price of $244.58 and a 200 day moving average price of $302.24. The firm has a market cap of $6.75 billion, a PE ratio of -3.70 and a beta of 1.00. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a 1-year low of $215.38 and a 1-year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.81. The business had revenue of $585.40 million during the quarter, compared to the consensus estimate of $573.01 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. Bio-Rad Laboratories’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the company earned $2.30 earnings per share. Research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal 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.