Wedge Capital Management L L P NC Takes $28.74 Million Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Wedge Capital Management L L P NC purchased a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 87,487 shares of the medical research company's stock, valued at approximately $28,740,000. Wedge Capital Management L L P NC owned about 0.31% of Bio-Rad Laboratories as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Avior Wealth Management LLC boosted its holdings in shares of Bio-Rad Laboratories by 3.3% during 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 last quarter. UMB Bank n.a. boosted its holdings in shares of Bio-Rad Laboratories by 140.6% during the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company's stock valued at $26,000 after acquiring an additional 45 shares during the last quarter. Quarry LP boosted its holdings in shares of Bio-Rad Laboratories by 38.1% during the 3rd quarter. Quarry LP now owns 297 shares of the medical research company's stock valued at $99,000 after acquiring an additional 82 shares during the last quarter. Creative Planning boosted its holdings in shares of Bio-Rad Laboratories by 6.0% during 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 last quarter. Finally, APG Asset Management N.V. boosted its holdings in shares of Bio-Rad Laboratories by 0.7% during the 2nd quarter. APG Asset Management N.V. now owns 14,305 shares of the medical research company's stock valued at $3,645,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BIO shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $481.00 price target on shares of Bio-Rad Laboratories in a report on Tuesday. Citigroup increased 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 note on Thursday, October 31st. Finally, StockNews.com upgraded shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $394.20.

Bio-Rad Laboratories Stock Performance

NYSE BIO traded down $1.52 on Friday, reaching $342.95. 124,273 shares of the stock were exchanged, compared to its average volume of 140,854. Bio-Rad Laboratories, Inc. has a one year low of $262.12 and a one year high of $387.99. The firm has a market capitalization of $9.60 billion, a PE ratio of -12.55 and a beta of 0.90. The company's 50-day simple moving average is $336.49 and its two-hundred day simple moving average is $329.82. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its earnings results on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The company had revenue of $649.70 million for the quarter, compared to analysts' expectations of $628.18 million. During the same quarter last year, the business earned $2.33 EPS. The firm's revenue was up 2.8% compared to the same quarter last year. Analysts expect that Bio-Rad Laboratories, Inc. will post 10.3 EPS for the current fiscal year.

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.