Magnetar Financial LLC Raises Stake in Bio-Rad Laboratories, Inc. (BIO)

Magnetar Financial LLC increased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 40.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,799 shares of the medical research company’s stock after buying an additional 1,676 shares during the period. Magnetar Financial LLC’s holdings in Bio-Rad Laboratories were worth $1,289,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BIO. BlackRock Inc. increased its stake in Bio-Rad Laboratories by 0.3% in the second quarter. BlackRock Inc. now owns 1,738,431 shares of the medical research company’s stock valued at $393,424,000 after purchasing an additional 5,320 shares during the last quarter. Vanguard Group Inc. increased its stake in Bio-Rad Laboratories by 0.4% in the second quarter. Vanguard Group Inc. now owns 1,679,405 shares of the medical research company’s stock valued at $380,067,000 after purchasing an additional 6,131 shares during the last quarter. FMR LLC increased its stake in Bio-Rad Laboratories by 237.4% in the second quarter. FMR LLC now owns 711,313 shares of the medical research company’s stock valued at $160,978,000 after purchasing an additional 500,513 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in Bio-Rad Laboratories by 7.0% in the third quarter. TimesSquare Capital Management LLC now owns 665,100 shares of the medical research company’s stock valued at $147,799,000 after purchasing an additional 43,450 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in Bio-Rad Laboratories in the third quarter valued at approximately $125,820,000. Hedge funds and other institutional investors own 63.87% of the company’s stock.

Bio-Rad Laboratories, Inc. (NYSE:BIO) opened at $255.08 on Friday. The company has a current ratio of 4.06, a quick ratio of 2.77 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7,588.67, a P/E ratio of 80.94, a PEG ratio of 3.81 and a beta of 0.97. Bio-Rad Laboratories, Inc. has a 1 year low of $177.68 and a 1 year high of $273.87.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Thursday, November 2nd. The medical research company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.37. The business had revenue of $535.00 million for the quarter, compared to analyst estimates of $507.99 million. Bio-Rad Laboratories had a net margin of 1.15% and a return on equity of 3.44%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. research analysts predict that Bio-Rad Laboratories, Inc. will post 2.68 EPS for the current year.

Bio-Rad Laboratories announced that its Board of Directors has authorized a stock buyback program on Tuesday, November 28th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

In related news, EVP Giovanni Magni sold 2,400 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $253.01, for a total transaction of $607,224.00. Following the completion of the sale, the executive vice president now directly owns 9,251 shares of the company’s stock, valued at $2,340,595.51. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP James R. Stark sold 746 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $270.51, for a total value of $201,800.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,146 shares of company stock valued at $1,067,414. Corporate insiders own 28.29% of the company’s stock.

Several equities analysts have commented on the stock. Wells Fargo & Company reiterated an “outperform” rating and issued a $290.00 price target (up from $250.00) on shares of Bio-Rad Laboratories in a research note on Wednesday, November 29th. Deutsche Bank reiterated a “buy” rating and issued a $255.00 price target on shares of Bio-Rad Laboratories in a research note on Monday, September 18th. TheStreet upgraded shares of Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Finally, Zacks Investment Research upgraded shares of Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $273.33.

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Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.

Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

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