ICICI Prudential Asset Management Co Ltd Raises Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

ICICI Prudential Asset Management Co Ltd boosted its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 108.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,316 shares of the medical research company's stock after purchasing an additional 14,700 shares during the period. Bio-Rad Laboratories comprises approximately 1.0% of ICICI Prudential Asset Management Co Ltd's portfolio, making the stock its 28th biggest holding. ICICI Prudential Asset Management Co Ltd owned 0.10% of Bio-Rad Laboratories worth $9,474,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in BIO. UMB Bank n.a. grew its position in shares of Bio-Rad Laboratories by 140.6% in the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company's stock valued at $26,000 after purchasing an additional 45 shares in the last quarter. Wahed Invest LLC lifted its holdings in shares of Bio-Rad Laboratories by 14.0% in the first quarter. Wahed Invest LLC now owns 399 shares of the medical research company's stock worth $138,000 after buying an additional 49 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in Bio-Rad Laboratories by 193.8% during the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company's stock valued at $26,000 after acquiring an additional 62 shares in the last quarter. Natixis increased its holdings in Bio-Rad Laboratories by 3.4% during the 1st quarter. Natixis now owns 1,986 shares of the medical research company's stock worth $687,000 after acquiring an additional 65 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Bio-Rad Laboratories by 9.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 947 shares of the medical research company's stock worth $259,000 after purchasing an additional 82 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock traded down $1.33 during trading on Wednesday, hitting $363.20. 132,332 shares of the stock traded hands, compared to its average volume of 246,462. The firm's fifty day moving average is $339.68 and its 200-day moving average is $313.17. The stock has a market cap of $10.17 billion, a price-to-earnings ratio of -13.34 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a 52 week low of $262.12 and a 52 week high of $387.99. 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 (NYSE:BIO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.16 by $0.85. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The firm had revenue of $649.70 million for the quarter, compared to the consensus estimate of $628.18 million. During the same period last year, the firm posted $2.33 earnings per share. The business's revenue was up 2.8% compared to the same quarter last year. Research analysts expect that Bio-Rad Laboratories, Inc. will post 9.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BIO shares. Royal Bank of Canada upped their price target on shares of Bio-Rad Laboratories from $446.00 to $469.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Wells Fargo & Company began coverage on Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an "equal weight" rating and a $340.00 price target on the stock. StockNews.com raised 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 company a "buy" rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $391.80.

Insiders Place Their Bets

In other news, EVP James Barry sold 623 shares of Bio-Rad Laboratories stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total value of $205,895.27. Following the transaction, the executive vice president now owns 147 shares in the company, valued at approximately $48,582.03. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP James Barry sold 623 shares of the company's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total transaction of $205,895.27. Following the completion of the sale, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Andrew J. Last sold 3,000 shares of the firm's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $329.94, for a total transaction of $989,820.00. Following the completion of the sale, the chief operating officer now directly owns 7,559 shares in the company, valued at approximately $2,494,016.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by insiders.

Bio-Rad Laboratories Company 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.