Private Capital Group LLC grew its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 254.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 390 shares of the medical research company’s stock after buying an additional 280 shares during the quarter. Private Capital Group LLC’s holdings in Bio-Rad Laboratories were worth $119,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of Bio-Rad Laboratories by 6.6% in the third quarter. Bank of New York Mellon Corp now owns 231,356 shares of the medical research company’s stock worth $72,412,000 after purchasing an additional 14,408 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Bio-Rad Laboratories by 44.0% in the third quarter. JPMorgan Chase & Co. now owns 43,857 shares of the medical research company’s stock worth $13,726,000 after purchasing an additional 13,398 shares during the last quarter. LPL Financial LLC grew its stake in shares of Bio-Rad Laboratories by 13.4% in the third quarter. LPL Financial LLC now owns 4,394 shares of the medical research company’s stock worth $1,375,000 after purchasing an additional 519 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Bio-Rad Laboratories by 5.5% in the third quarter. Thrivent Financial for Lutherans now owns 4,868 shares of the medical research company’s stock worth $1,524,000 after purchasing an additional 253 shares during the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Bio-Rad Laboratories by 5.7% in the third quarter. Macquarie Group Ltd. now owns 15,974 shares of the medical research company’s stock worth $5,000,000 after purchasing an additional 862 shares during the last quarter. 64.30% of the stock is currently owned by institutional investors.
In related news, EVP Timothy S. Ernst sold 345 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $290.00, for a total value of $100,050.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 27.84% of the stock is owned by insiders.
Several analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Bio-Rad Laboratories from $315.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Deutsche Bank boosted their price objective on shares of Bio-Rad Laboratories from $330.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $360.00 target price on the stock in a report on Wednesday, March 6th. Finally, ValuEngine upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $365.00.
BIO stock traded up $1.00 during midday trading on Wednesday, hitting $295.35. The stock had a trading volume of 148,700 shares, compared to its average volume of 243,838. The firm has a market cap of $8.84 billion, a price-to-earnings ratio of 50.57, a PEG ratio of 2.77 and a beta of 1.23. The company has a quick ratio of 3.24, a current ratio of 4.57 and a debt-to-equity ratio of 0.13. Bio-Rad Laboratories, Inc. has a 1-year low of $220.05 and a 1-year high of $345.15.
Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Wednesday, May 8th. The medical research company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.53. The business had revenue of $553.98 million for the quarter, compared to analyst estimates of $548.82 million. Bio-Rad Laboratories had a net margin of 24.84% and a return on equity of 4.15%. Research analysts expect that Bio-Rad Laboratories, Inc. will post 7.15 earnings per share for the current year.
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About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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