Stifel Financial Corp reduced its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO – Free Report) by 1.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 5,321 shares of the medical research company’s stock after selling 95 shares during the quarter. Stifel Financial Corp’s holdings in Bio-Rad Laboratories were worth $1,780,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. First Eagle Investment Management LLC increased its stake in shares of Bio-Rad Laboratories by 32,296.9% in the second quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock worth $173,773,000 after purchasing an additional 634,311 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Bio-Rad Laboratories by 95.6% during the 3rd quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock worth $14,836,000 after purchasing an additional 21,669 shares in the last quarter. Mawer Investment Management Ltd. boosted its stake in Bio-Rad Laboratories by 63.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company’s stock worth $72,900,000 after purchasing an additional 84,237 shares during the period. Verition Fund Management LLC grew its stake in Bio-Rad Laboratories by 193.3% during the third quarter. Verition Fund Management LLC now owns 3,470 shares of the medical research company’s stock valued at $1,161,000 after acquiring an additional 2,287 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Bio-Rad Laboratories by 341.7% in the third quarter. Louisiana State Employees Retirement System now owns 5,300 shares of the medical research company’s stock worth $1,773,000 after purchasing an additional 4,100 shares during the period. Institutional investors own 65.24% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on BIO shares. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company began coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price objective for the company. Royal Bank of Canada lifted their target price on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Citigroup lifted their price target 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Bio-Rad Laboratories presently has an average rating of “Moderate Buy” and an average target price of $394.20.
Bio-Rad Laboratories Stock Up 0.5 %
BIO stock opened at $327.47 on Friday. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $340.91 and a 200 day moving average of $322.11. Bio-Rad Laboratories, Inc. has a twelve month low of $262.12 and a twelve month high of $387.99. The firm has a market cap of $9.17 billion, a PE ratio of -11.98 and a beta of 0.90.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The company had revenue of $649.70 million for the quarter, compared to analysts’ expectations of $628.18 million. During the same quarter in the previous year, the business posted $2.33 EPS. Bio-Rad Laboratories’s revenue was up 2.8% compared to the same quarter last year. On average, research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current fiscal year.
About Bio-Rad Laboratories
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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