Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,532 shares of the medical research company’s stock, valued at approximately $706,000.
Other institutional investors have also recently made changes to their positions in the company. Skylands Capital LLC increased its stake in Bio-Rad Laboratories by 56.9% during the first quarter. Skylands Capital LLC now owns 5,650 shares of the medical research company’s stock worth $1,575,000 after acquiring an additional 2,050 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Bio-Rad Laboratories by 13.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,920 shares of the medical research company’s stock valued at $814,000 after purchasing an additional 340 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Bio-Rad Laboratories during the 1st quarter worth $1,477,000. William B. Walkup & Associates Inc. grew its holdings in shares of Bio-Rad Laboratories by 2.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 1,902 shares of the medical research company’s stock worth $530,000 after purchasing an additional 48 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Bio-Rad Laboratories by 8.6% during the 1st quarter. Blue Trust Inc. now owns 1,553 shares of the medical research company’s stock worth $433,000 after purchasing an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Citigroup cut shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $375.00 to $300.00 in a research report on Tuesday, April 7th. Weiss Ratings downgraded shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada started coverage on Bio-Rad Laboratories in a research report on Friday, May 15th. They issued an “outperform” rating and a $320.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $303.33.
Bio-Rad Laboratories Stock Down 0.8%
BIO stock opened at $292.81 on Wednesday. The company’s 50 day moving average price is $284.49 and its 200 day moving average price is $288.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.37 and a current ratio of 3.21. Bio-Rad Laboratories, Inc. has a fifty-two week low of $236.73 and a fifty-two week high of $343.12. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 48.24 and a beta of 1.08.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.08). The firm had revenue of $592.10 million for the quarter, compared to analysts’ expectations of $589.91 million. Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 6.52%.Bio-Rad Laboratories’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $2.54 earnings per share. On average, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.42 EPS for the current fiscal year.
About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.
Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.
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