Raymond James Financial Inc. Acquires New Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Raymond James Financial Inc. bought a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,581 shares of the medical research company's stock, valued at approximately $5,119,000. Raymond James Financial Inc. owned about 0.06% of Bio-Rad Laboratories at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in BIO. Shelton Capital Management bought a new stake in Bio-Rad Laboratories in the 4th quarter valued at about $237,000. Federated Hermes Inc. boosted its holdings in Bio-Rad Laboratories by 13.5% in the 4th quarter. Federated Hermes Inc. now owns 137,561 shares of the medical research company's stock worth $45,190,000 after buying an additional 16,338 shares during the period. Envestnet Asset Management Inc. grew its stake in Bio-Rad Laboratories by 6.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 105,027 shares of the medical research company's stock valued at $34,502,000 after buying an additional 6,287 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new stake in Bio-Rad Laboratories during the 4th quarter valued at $1,845,000. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth $5,193,000. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BIO. StockNews.com cut Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Royal Bank of Canada restated an "outperform" rating and issued a $481.00 price objective on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company decreased their target price on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $380.20.

Bio-Rad Laboratories Stock Down 3.0 %

BIO stock opened at $242.22 on Friday. Bio-Rad Laboratories, Inc. has a 1-year low of $215.38 and a 1-year high of $387.99. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of -3.72 and a beta of 1.12. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. The company's 50 day moving average is $251.03 and its 200 day moving average is $308.49.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, beating the consensus estimate 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 predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

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.

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