Resona Asset Management Co. Ltd. Invests $1.85 Million in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Resona Asset Management Co. Ltd. bought a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 5,610 shares of the medical research company's stock, valued at approximately $1,845,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BIO. Quantinno Capital Management LP bought a new position in shares of Bio-Rad Laboratories during the third quarter valued at approximately $403,000. Wellington Management Group LLP increased its holdings in shares of Bio-Rad Laboratories by 56.1% in the 3rd quarter. Wellington Management Group LLP now owns 10,016 shares of the medical research company's stock valued at $3,351,000 after acquiring an additional 3,601 shares during the period. Zacks Investment Management purchased a new position in shares of Bio-Rad Laboratories in the 3rd quarter valued at $542,000. MML Investors Services LLC raised its position in shares of Bio-Rad Laboratories by 3.1% in the 3rd quarter. MML Investors Services LLC now owns 5,361 shares of the medical research company's stock worth $1,794,000 after acquiring an additional 159 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Bio-Rad Laboratories during the 3rd quarter worth $878,000. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Stock Performance

Shares of Bio-Rad Laboratories stock traded down $1.97 during midday trading on Tuesday, hitting $247.65. The company had a trading volume of 74,664 shares, compared to its average volume of 316,681. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of -3.81 and a beta of 1.12. Bio-Rad Laboratories, Inc. has a 12-month low of $215.38 and a 12-month high of $387.99. 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 company has a fifty day simple moving average of $262.86 and a 200 day simple moving average of $314.11.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. As a group, analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BIO shares. StockNews.com lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. 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 on the stock in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Bio-Rad Laboratories presently has an average rating of "Moderate Buy" and an average target price of $395.20.

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.