Fulton Bank N.A. Makes New Investment in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Fulton Bank N.A. bought a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 702 shares of the medical research company’s stock, valued at approximately $243,000.

A number of other large investors have also recently bought and sold shares of BIO. Victory Capital Management Inc. increased its stake in shares of Bio-Rad Laboratories by 48.7% in the fourth quarter. Victory Capital Management Inc. now owns 17,671 shares of the medical research company’s stock valued at $5,706,000 after purchasing an additional 5,790 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of Bio-Rad Laboratories by 38.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 151,691 shares of the medical research company’s stock valued at $48,980,000 after purchasing an additional 41,937 shares during the period. Lecap Asset Management Ltd. acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at approximately $1,590,000. Comerica Bank acquired a new stake in shares of Bio-Rad Laboratories in the third quarter valued at approximately $11,054,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at approximately $2,609,000. Institutional investors own 65.24% of the company’s stock.

Insiders Place Their Bets

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 369 shares of Bio-Rad Laboratories stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $281.91, for a total value of $104,024.79. Following the transaction, the executive vice president now owns 6,573 shares in the company, valued at $1,852,994.43. The transaction was disclosed in a document filed with the SEC, which is available at this link. 17.06% of the stock is currently owned by company insiders.

Bio-Rad Laboratories Price Performance

NYSE BIO opened at $287.79 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.57 and a quick ratio of 4.89. The firm has a market capitalization of $8.21 billion, a PE ratio of -27.78 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a 12 month low of $261.59 and a 12 month high of $431.79. The company’s 50 day simple moving average is $285.18 and its 200 day simple moving average is $311.43.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Tuesday, May 7th. The medical research company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.25. The firm had revenue of $610.82 million for the quarter, compared to analyst estimates of $619.09 million. Bio-Rad Laboratories had a negative net margin of 12.37% and a positive return on equity of 3.59%. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.34 earnings per share. As a group, equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BIO has been the topic of several analyst reports. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Tuesday, May 28th. Jefferies Financial Group reiterated a “hold” rating and set a $315.00 price objective (down previously from $440.00) on shares of Bio-Rad Laboratories in a research note on Monday, June 3rd. UBS Group lowered their price objective on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $400.00 to $365.00 in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and five 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 $436.67.

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.