Deutsche Bank AG Boosts Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Deutsche Bank AG raised its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,601 shares of the medical research company’s stock after buying an additional 1,027 shares during the period. Deutsche Bank AG owned approximately 0.13% of Bio-Rad Laboratories worth $12,352,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC bought a new position in shares of Bio-Rad Laboratories during the fourth quarter worth about $342,686,000. Bank of America Corp DE lifted its holdings in Bio-Rad Laboratories by 705.9% during the 4th quarter. Bank of America Corp DE now owns 427,292 shares of the medical research company’s stock worth $140,370,000 after buying an additional 374,269 shares during the last quarter. Ariel Investments LLC grew its position in shares of Bio-Rad Laboratories by 48.0% in the 4th quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company’s stock worth $184,138,000 after acquiring an additional 181,829 shares in the last quarter. Norges Bank bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter valued at approximately $41,644,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Bio-Rad Laboratories by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 746,119 shares of the medical research company’s stock valued at $245,106,000 after acquiring an additional 91,690 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Up 2.5%

BIO stock opened at $242.94 on Friday. 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, Inc. has a fifty-two week low of $215.38 and a fifty-two week high of $387.99. The firm’s 50-day simple moving average is $243.51 and its 200 day simple moving average is $299.31. The stock has a market cap of $6.80 billion, a PE ratio of -3.74 and a beta of 1.00.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.81. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. The business had revenue of $585.40 million for the quarter, compared to analysts’ expectations of $573.01 million. During the same quarter last year, the company earned $2.30 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on BIO shares. Royal Bank of Canada decreased their price objective on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. UBS Group reduced their price target on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Citigroup reduced their price target on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. StockNews.com downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Finally, Wells Fargo & Company reduced their price target on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $327.40.

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.