Zacks Investment Management acquired a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,620 shares of the medical research company's stock, valued at approximately $542,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital Advisors Ltd. LLC lifted its position in shares of Bio-Rad Laboratories by 193.8% in the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company's stock worth $26,000 after purchasing an additional 62 shares in the last quarter. UMB Bank n.a. lifted 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 worth $26,000 after purchasing an additional 45 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of Bio-Rad Laboratories in the third quarter worth approximately $32,000. Headlands Technologies LLC purchased a new stake in shares of Bio-Rad Laboratories in the second quarter worth approximately $51,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Bio-Rad Laboratories in the third quarter worth approximately $55,000. Institutional investors and hedge funds own 65.24% of the company's stock.
Analyst Ratings Changes
Several brokerages recently weighed in on BIO. Citigroup raised their price objective on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. StockNews.com upgraded Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Friday, November 1st. Wells Fargo & Company initiated coverage on Bio-Rad Laboratories in a report on Tuesday, August 27th. They set an "equal weight" rating and a $340.00 price target on the stock. Finally, Royal Bank of Canada increased their price target on Bio-Rad Laboratories from $369.00 to $481.00 and gave the company an "outperform" rating in a report on Monday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Bio-Rad Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $394.20.
Get Our Latest Stock Report on BIO
Bio-Rad Laboratories Price Performance
Shares of Bio-Rad Laboratories stock traded up $1.87 during trading on Wednesday, reaching $341.74. The company's stock had a trading volume of 159,822 shares, compared to its average volume of 242,483. The stock has a 50-day moving average price of $341.47 and a two-hundred day moving average price of $320.17. 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, Inc. has a one year low of $262.12 and a one year high of $387.99. The stock has a market capitalization of $9.57 billion, a P/E ratio of -12.44 and a beta of 0.90.
Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.85. The firm had revenue of $649.70 million during the quarter, compared to analyst estimates of $628.18 million. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The company's revenue was up 2.8% on a year-over-year basis. During the same period last year, the company earned $2.33 earnings per share. As a group, sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current fiscal year.
About Bio-Rad Laboratories
(
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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