Strategic Financial Concepts LLC Acquires New Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Strategic Financial Concepts LLC bought a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,841 shares of the medical research company's stock, valued at approximately $3,561,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIO. Creative Planning boosted its holdings 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 valued at $546,000 after acquiring an additional 93 shares during the last quarter. Blue Trust Inc. raised its position in Bio-Rad Laboratories by 22.9% in the third quarter. Blue Trust Inc. now owns 1,056 shares of the medical research company's stock valued at $353,000 after purchasing an additional 197 shares during the period. Raymond James & Associates raised its position in Bio-Rad Laboratories by 8.6% in the third quarter. Raymond James & Associates now owns 14,915 shares of the medical research company's stock valued at $4,990,000 after purchasing an additional 1,179 shares during the period. Greenleaf Trust purchased a new position in Bio-Rad Laboratories in the third quarter valued at about $202,000. Finally, Ballentine Partners LLC purchased a new position in Bio-Rad Laboratories in the third quarter valued at about $227,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Up 0.3 %

Shares of NYSE BIO traded up $0.84 during midday trading on Wednesday, reaching $284.05. 401,069 shares of the company's stock were exchanged, compared to its average volume of 215,227. Bio-Rad Laboratories, Inc. has a 52-week low of $262.12 and a 52-week high of $387.99. The stock has a market capitalization of $7.95 billion, a PE ratio of -4.37 and a beta of 0.90. 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 business's fifty day moving average price is $335.06 and its two-hundred day moving average price is $334.95.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced 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 positive return on equity of 3.90% and a negative net margin of 71.86%. Analysts forecast that Bio-Rad Laboratories, Inc. will post 11.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wells Fargo & Company cut 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, February 12th. StockNews.com lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Monday. Citigroup raised 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. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $395.20.

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.