Mather Group LLC. Takes $84,000 Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Mather Group LLC. purchased a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 260 shares of the medical research company’s stock, valued at approximately $84,000.

Other hedge funds have also recently bought and sold shares of the company. Treasurer of the State of North Carolina increased its position in shares of Bio-Rad Laboratories by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 9,491 shares of the medical research company’s stock valued at $3,402,000 after buying an additional 40 shares in the last quarter. Parallel Advisors LLC raised its position in Bio-Rad Laboratories by 36.8% during the fourth quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock worth $55,000 after acquiring an additional 46 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Bio-Rad Laboratories by 15.8% in the fourth quarter. Signaturefd LLC now owns 352 shares of the medical research company’s stock valued at $114,000 after purchasing an additional 48 shares in the last quarter. Gladius Capital Management LP grew its position in shares of Bio-Rad Laboratories by 65.8% in the fourth quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 48 shares during the last quarter. Finally, Yousif Capital Management LLC raised its position in shares of Bio-Rad Laboratories by 1.9% during the 4th quarter. Yousif Capital Management LLC now owns 2,775 shares of the medical research company’s stock worth $896,000 after purchasing an additional 51 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Performance

NYSE BIO opened at $287.98 on Friday. The business’s 50-day moving average price is $285.18 and its 200 day moving average price is $311.47. The company has a current ratio of 6.57, a quick ratio of 4.89 and a debt-to-equity ratio of 0.13. Bio-Rad Laboratories, Inc. has a twelve month low of $261.59 and a twelve month high of $431.79. The company has a market capitalization of $8.21 billion, a PE ratio of -27.80 and a beta of 0.95.

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

Insiders Place Their Bets

In other news, EVP Michael Crowley sold 369 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $281.91, for a total transaction of $104,024.79. Following the completion of the sale, the executive vice president now directly owns 6,573 shares in the company, valued at approximately $1,852,994.43. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 17.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group lowered their target price on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and reduced their target price for the company from $400.00 to $365.00 in a report on Wednesday, April 3rd. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $315.00 price target (down from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Bio-Rad Laboratories presently has an average rating of “Moderate Buy” and a consensus price target 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.