KLP Kapitalforvaltning AS Takes $2.33 Million Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

KLP Kapitalforvaltning AS bought a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,100 shares of the medical research company's stock, valued at approximately $2,332,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BIO. Strategic Financial Concepts LLC purchased a new stake in Bio-Rad Laboratories in the 4th quarter valued at approximately $3,561,000. Lecap Asset Management Ltd. acquired a new stake in shares of Bio-Rad Laboratories in the 4th quarter valued at approximately $510,000. Verition Fund Management LLC boosted its stake in shares of Bio-Rad Laboratories by 193.3% in the third quarter. Verition Fund Management LLC now owns 3,470 shares of the medical research company's stock valued at $1,161,000 after buying an additional 2,287 shares in the last quarter. Diversified Trust Co purchased a new position in Bio-Rad Laboratories in the fourth quarter worth $958,000. Finally, DAVENPORT & Co LLC lifted its holdings in Bio-Rad Laboratories by 48.8% in the fourth quarter. DAVENPORT & Co LLC now owns 84,677 shares of the medical research company's stock valued at $27,817,000 after acquiring an additional 27,780 shares during the period. Hedge funds and other institutional investors own 65.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BIO shares. StockNews.com cut shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Wells Fargo & Company dropped their target price on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an "equal weight" rating for the company in a report on Wednesday, February 12th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $481.00 price target on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $395.20.

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Bio-Rad Laboratories Price Performance

NYSE:BIO traded down $3.59 during mid-day trading on Tuesday, hitting $239.97. 348,064 shares of the company's stock traded hands, compared to its average volume of 292,949. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.85 and a current ratio of 6.48. The company has a market cap of $6.72 billion, a PE ratio of -3.69 and a beta of 0.98. The firm's 50 day simple moving average is $289.28 and its 200 day simple moving average is $321.35. Bio-Rad Laboratories, Inc. has a 1 year low of $235.84 and a 1 year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, topping analysts' consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. Sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

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.