Wellington Management Group LLP Cuts Stock Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Wellington Management Group LLP cut its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 91.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 810 shares of the medical research company's stock after selling 9,206 shares during the period. Wellington Management Group LLP's holdings in Bio-Rad Laboratories were worth $266,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BIO. Strategic Financial Concepts LLC acquired a new position in shares of Bio-Rad Laboratories in the fourth quarter valued at approximately $3,561,000. Lecap Asset Management Ltd. bought a new stake in Bio-Rad Laboratories during the 4th quarter worth approximately $510,000. Diversified Trust Co acquired a new position in Bio-Rad Laboratories in the 4th quarter valued at approximately $958,000. DAVENPORT & Co LLC lifted its holdings in shares of Bio-Rad Laboratories by 48.8% during the fourth quarter. DAVENPORT & Co LLC now owns 84,677 shares of the medical research company's stock worth $27,817,000 after purchasing an additional 27,780 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Bio-Rad Laboratories by 95.6% in the third quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company's stock worth $14,836,000 after purchasing an additional 21,669 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Down 2.9 %

NYSE:BIO traded down $7.19 on Friday, hitting $238.02. The stock had a trading volume of 231,477 shares, compared to its average volume of 319,120. The company has a market cap of $6.67 billion, a PE ratio of -3.66 and a beta of 1.12. Bio-Rad Laboratories, Inc. has a 52 week low of $215.38 and a 52 week high of $387.99. The business's fifty day moving average is $255.62 and its 200 day moving average is $311.59. The company has a quick ratio of 4.85, a current ratio of 6.48 and a debt-to-equity ratio of 0.18.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, beating analysts' consensus estimates 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%. On average, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Analyst Ratings Changes

BIO has been the subject of several analyst reports. Wells Fargo & Company lowered their target price 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. StockNews.com lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.