Y Intercept Hong Kong Ltd Makes New Investment in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Y Intercept Hong Kong Ltd bought a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,679 shares of the medical research company's stock, valued at approximately $2,235,000.

A number of other hedge funds have also made changes to their positions in BIO. MML Investors Services LLC grew its stake in Bio-Rad Laboratories by 3.1% during the third quarter. MML Investors Services LLC now owns 5,361 shares of the medical research company's stock worth $1,794,000 after buying an additional 159 shares during the last quarter. Zacks Investment Management acquired a new position in shares of Bio-Rad Laboratories in the 3rd quarter worth approximately $542,000. Wellington Management Group LLP grew its position in Bio-Rad Laboratories by 56.1% during the 3rd quarter. Wellington Management Group LLP now owns 10,016 shares of the medical research company's stock worth $3,351,000 after acquiring an additional 3,601 shares during the last quarter. Worldquant Millennium Advisors LLC increased its holdings in Bio-Rad Laboratories by 43.5% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 10,752 shares of the medical research company's stock valued at $3,597,000 after purchasing an additional 3,257 shares in the last quarter. Finally, Quadrature Capital Ltd grew its holdings in shares of Bio-Rad Laboratories by 14.0% during the third quarter. Quadrature Capital Ltd now owns 6,034 shares of the medical research company's stock worth $2,021,000 after purchasing an additional 739 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Bio-Rad Laboratories Trading Down 1.7 %

BIO traded down $5.73 during mid-day trading on Tuesday, hitting $339.87. The stock had a trading volume of 168,935 shares, compared to its average volume of 242,831. The stock's fifty day simple moving average is $341.47 and its 200-day simple moving average is $320.17. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of -12.44 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a 1-year low of $262.12 and a 1-year high of $387.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.85. The firm had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The company's revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 earnings per share. As a group, research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current fiscal year.

Analysts Set New Price Targets

BIO has been the subject of a number of research analyst reports. Wells Fargo & Company started coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an "equal weight" rating and a $340.00 target price for the company. StockNews.com raised Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Citigroup raised their price target on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada upped their target price on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the company an "outperform" rating in a research report on Monday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Bio-Rad Laboratories has an average rating of "Moderate Buy" and an average target price of $394.20.

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.