DAVENPORT & Co LLC Acquires 27,780 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

DAVENPORT & Co LLC boosted its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 48.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,677 shares of the medical research company's stock after purchasing an additional 27,780 shares during the period. DAVENPORT & Co LLC owned approximately 0.30% of Bio-Rad Laboratories worth $27,817,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. UMB Bank n.a. lifted its position in shares of Bio-Rad Laboratories by 140.6% during the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company's stock worth $26,000 after purchasing an additional 45 shares in the last quarter. Gladius Capital Management LP bought a new position in shares of Bio-Rad Laboratories during the third quarter valued at approximately $32,000. Point72 Hong Kong Ltd acquired a new stake in Bio-Rad Laboratories in the third quarter worth $55,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Bio-Rad Laboratories by 281.7% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 271 shares of the medical research company's stock worth $91,000 after acquiring an additional 200 shares during the period. Finally, Quarry LP raised its holdings in shares of Bio-Rad Laboratories by 38.1% during the third quarter. Quarry LP now owns 297 shares of the medical research company's stock valued at $99,000 after buying an additional 82 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Down 1.4 %

Shares of BIO traded down $4.93 during midday trading on Thursday, reaching $346.01. 118,699 shares of the stock were exchanged, compared to its average volume of 153,233. The company has a market cap of $9.69 billion, a price-to-earnings ratio of -12.66 and a beta of 0.90. The firm has a 50 day simple moving average of $341.13 and a 200-day simple moving average of $336.19. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. Bio-Rad Laboratories, Inc. has a 12-month low of $262.12 and a 12-month high of $387.99.

Wall Street Analysts Forecast Growth

BIO has been the subject of several research analyst reports. Citigroup upped their price objective 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. StockNews.com raised Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Friday, November 1st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $481.00 price objective on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. 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 stock has an average rating of "Moderate Buy" and an average 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.