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

Envestnet Asset Management Inc. raised its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 105,027 shares of the medical research company's stock after acquiring an additional 6,287 shares during the quarter. Envestnet Asset Management Inc. owned about 0.38% of Bio-Rad Laboratories worth $34,502,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BIO. Venturi Wealth Management LLC boosted its stake in Bio-Rad Laboratories by 2,175.0% in the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company's stock valued at $30,000 after purchasing an additional 87 shares during the period. Picton Mahoney Asset Management increased its position in Bio-Rad Laboratories by 55.6% during the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock worth $32,000 after acquiring an additional 35 shares during the period. Asset Planning Inc acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at approximately $33,000. UMB Bank n.a. grew its position 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 buying an additional 32 shares in the last quarter. Finally, Cape Investment Advisory Inc. acquired a new position in Bio-Rad Laboratories in the 4th quarter valued at $38,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Trading Down 3.0 %

NYSE:BIO traded down $7.32 during midday trading on Thursday, hitting $237.89. The stock had a trading volume of 58,434 shares, compared to its average volume of 316,683. The company has a quick ratio of 4.85, a current ratio of 6.48 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average of $258.93 and a 200 day moving average of $313.16. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of -3.66 and a beta of 1.12. Bio-Rad Laboratories, Inc. has a one year low of $215.38 and a one year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, topping analysts' consensus estimates 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%. As a group, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BIO shares. Wells Fargo & Company dropped their price objective on Bio-Rad Laboratories from $320.00 to $270.00 and set an "equal weight" rating for the company in a research report on Thursday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. Finally, StockNews.com downgraded Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a 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 company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $380.20.

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.