Mirae Asset Global Investments Co. Ltd. Decreases Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,102 shares of the medical research company’s stock after selling 297 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Bio-Rad Laboratories were worth $1,012,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Retirement Systems of Alabama lifted its stake in shares of Bio-Rad Laboratories by 0.7% during the fourth quarter. Retirement Systems of Alabama now owns 23,413 shares of the medical research company’s stock worth $7,691,000 after buying an additional 153 shares during the period. Mather Group LLC. raised its stake in Bio-Rad Laboratories by 172.8% in the 4th quarter. Mather Group LLC. now owns 461 shares of the medical research company’s stock worth $151,000 after acquiring an additional 292 shares during the last quarter. DAVENPORT & Co LLC lifted its position in Bio-Rad Laboratories by 48.8% during the 4th quarter. DAVENPORT & Co LLC now owns 84,677 shares of the medical research company’s stock worth $27,817,000 after acquiring an additional 27,780 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in Bio-Rad Laboratories by 3.9% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 900 shares of the medical research company’s stock valued at $296,000 after purchasing an additional 34 shares during the last quarter. Finally, Sivik Global Healthcare LLC acquired a new position in shares of Bio-Rad Laboratories in the fourth quarter valued at about $3,285,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

BIO opened at $314.82 on Wednesday. The firm has a fifty day moving average price of $340.56 and a 200 day moving average price of $336.91. Bio-Rad Laboratories, Inc. has a 1 year low of $262.12 and a 1 year high of $387.99. The stock has a market cap of $8.81 billion, a P/E ratio of -11.52 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BIO shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, Citigroup raised their target price on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $394.20.

About Bio-Rad Laboratories

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.