Janus Henderson Group PLC Trims Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Janus Henderson Group PLC decreased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 54.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,204 shares of the medical research company’s stock after selling 1,443 shares during the quarter. Janus Henderson Group PLC’s holdings in Bio-Rad Laboratories were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp acquired a new position in Bio-Rad Laboratories in the 2nd quarter valued at about $180,040,000. First Eagle Investment Management LLC raised its position in shares of Bio-Rad Laboratories by 32,296.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock valued at $173,773,000 after buying an additional 634,311 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Bio-Rad Laboratories by 64.4% in the second quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company’s stock valued at $135,081,000 after acquiring an additional 193,700 shares during the last quarter. Select Equity Group L.P. grew its position in Bio-Rad Laboratories by 26.2% in the second quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock worth $177,391,000 after acquiring an additional 134,856 shares during the period. Finally, Earnest Partners LLC grew its position in Bio-Rad Laboratories by 17.8% in the second quarter. Earnest Partners LLC now owns 606,788 shares of the medical research company’s stock worth $165,720,000 after acquiring an additional 91,882 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Down 1.1 %

Shares of NYSE:BIO opened at $336.28 on Monday. The firm has a market capitalization of $9.41 billion, a PE ratio of -12.30 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. The firm’s 50-day moving average is $341.35 and its two-hundred day moving average is $321.29.

Bio-Rad Laboratories (NYSE:BIO) last announced 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 the consensus estimate of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.33 EPS. Analysts predict that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. 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, December 9th. Citigroup lifted their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company started coverage on shares of Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $394.20.

Bio-Rad Laboratories 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.