Envestnet Asset Management Inc. Increases Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Envestnet Asset Management Inc. increased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 6.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 105,027 shares of the medical research company’s stock after purchasing an additional 6,287 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Bio-Rad Laboratories were worth $34,502,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BIO. Vanguard Group Inc. boosted its position in shares of Bio-Rad Laboratories by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,919,808 shares of the medical research company’s stock valued at $630,676,000 after buying an additional 12,168 shares during the period. Wealthfront Advisers LLC purchased a new position in Bio-Rad Laboratories during the 4th quarter valued at $342,686,000. Sei Investments Co. grew its position in Bio-Rad Laboratories by 7.5% in the 4th quarter. Sei Investments Co. now owns 271,387 shares of the medical research company’s stock valued at $89,156,000 after acquiring an additional 18,873 shares during the last quarter. Mawer Investment Management Ltd. increased its stake in Bio-Rad Laboratories by 17.9% in the fourth quarter. Mawer Investment Management Ltd. now owns 256,927 shares of the medical research company’s stock worth $84,403,000 after purchasing an additional 39,042 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Bio-Rad Laboratories by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 191,867 shares of the medical research company’s stock worth $63,030,000 after purchasing an additional 7,552 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Bio-Rad Laboratories Price Performance

Shares of BIO opened at $245.43 on Friday. 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 company has a 50 day moving average price of $264.86 and a 200-day moving average price of $314.80. Bio-Rad Laboratories, Inc. has a fifty-two week low of $215.38 and a fifty-two week high of $387.99. The stock has a market capitalization of $6.87 billion, a PE ratio of -3.77 and a beta of 1.12.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, beating 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%. Equities analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

About Bio-Rad Laboratories

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.