Strategic Financial Concepts LLC bought a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,841 shares of the medical research company's stock, valued at approximately $3,561,000.
Several other institutional investors and hedge funds have also bought and sold shares of BIO. Sanctuary Advisors LLC purchased a new position in Bio-Rad Laboratories in the second quarter worth about $735,000. UMB Bank n.a. boosted its position in 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 worth $26,000 after purchasing an additional 45 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Bio-Rad Laboratories by 281.7% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 271 shares of the medical research company's stock worth $91,000 after purchasing an additional 200 shares during the last quarter. Creative Planning boosted its position in Bio-Rad Laboratories by 6.0% in the third quarter. Creative Planning now owns 1,632 shares of the medical research company's stock worth $546,000 after purchasing an additional 93 shares during the last quarter. Finally, Paragon Capital Management Inc. boosted its position in Bio-Rad Laboratories by 3.2% in the third quarter. Paragon Capital Management Inc. now owns 4,944 shares of the medical research company's stock worth $1,654,000 after purchasing an additional 151 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have issued reports on BIO. StockNews.com raised Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Citigroup lifted their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $481.00 price objective on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company lowered their price objective on Bio-Rad Laboratories from $360.00 to $345.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $395.20.
Read Our Latest Report on Bio-Rad Laboratories
Bio-Rad Laboratories Price Performance
BIO traded down $7.79 on Thursday, hitting $304.57. 375,656 shares of the company's stock traded hands, compared to its average volume of 169,823. The company's 50 day simple moving average is $339.70 and its 200-day simple moving average is $336.52. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of -11.14 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a one year low of $262.12 and a one year high of $387.99. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16.
Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. As a group, research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.33 EPS for the current year.
Bio-Rad Laboratories Profile
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Free Report)
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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