Entropy Technologies LP Reduces Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Entropy Technologies LP trimmed its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 48.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,167 shares of the medical research company's stock after selling 2,033 shares during the quarter. Entropy Technologies LP's holdings in Bio-Rad Laboratories were worth $712,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BIO. Avior Wealth Management LLC raised its stake 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 buying an additional 32 shares during the last quarter. UMB Bank n.a. grew its holdings in Bio-Rad Laboratories by 41.6% during the fourth quarter. UMB Bank n.a. now owns 109 shares of the medical research company's stock worth $36,000 after acquiring an additional 32 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in Bio-Rad Laboratories by 3.9% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 900 shares of the medical research company's stock valued at $296,000 after acquiring an additional 34 shares in the last quarter. Ballentine Partners LLC lifted its holdings in Bio-Rad Laboratories by 5.2% in the fourth quarter. Ballentine Partners LLC now owns 714 shares of the medical research company's stock valued at $235,000 after acquiring an additional 35 shares during the period. Finally, Blue Trust Inc. boosted its position in Bio-Rad Laboratories by 7.2% in the 4th quarter. Blue Trust Inc. now owns 1,132 shares of the medical research company's stock worth $379,000 after purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Bio-Rad Laboratories Price Performance

BIO traded down $29.81 during midday trading on Friday, hitting $276.55. 1,065,491 shares of the company traded hands, compared to its average volume of 151,421. The business has a 50 day simple moving average of $338.72 and a two-hundred day simple moving average of $336.15. Bio-Rad Laboratories, Inc. has a 52-week low of $262.12 and a 52-week high of $387.99. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of -10.12 and a beta of 0.90. 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 issued its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, beating analysts' consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. On average, equities analysts forecast that Bio-Rad Laboratories, Inc. will post 10.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BIO shares. StockNews.com raised shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Friday, November 1st. Wells Fargo & Company cut their price objective on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an "equal weight" rating for the company in a report on Wednesday. Citigroup increased their target price 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, 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus 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.