Truist Financial Corp Purchases 72 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Truist Financial Corp grew its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,186 shares of the medical research company’s stock after acquiring an additional 72 shares during the quarter. Truist Financial Corp’s holdings in Bio-Rad Laboratories were worth $3,018,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Planning boosted its position in Bio-Rad Laboratories by 6.0% in the third quarter. Creative Planning now owns 1,632 shares of the medical research company’s stock worth $546,000 after purchasing an additional 93 shares during the last quarter. Raymond James & Associates lifted its position in shares of Bio-Rad Laboratories by 8.6% during the 3rd quarter. Raymond James & Associates now owns 14,915 shares of the medical research company’s stock valued at $4,990,000 after buying an additional 1,179 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of Bio-Rad Laboratories during the 3rd quarter valued at about $227,000. Louisiana State Employees Retirement System lifted its position in shares of Bio-Rad Laboratories by 341.7% during the 3rd quarter. Louisiana State Employees Retirement System now owns 5,300 shares of the medical research company’s stock valued at $1,773,000 after buying an additional 4,100 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Bio-Rad Laboratories by 58.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 872 shares of the medical research company’s stock valued at $292,000 after purchasing an additional 322 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $277.81 on Wednesday. The stock’s fifty day moving average is $330.43 and its 200 day moving average is $333.76. Bio-Rad Laboratories, Inc. has a fifty-two week low of $262.12 and a fifty-two week high of $387.99. The firm has a market capitalization of $7.78 billion, a PE ratio of -4.27 and a beta of 0.90. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.85 and a current ratio of 6.48.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. On average, sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Citigroup boosted their price target on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $481.00 price target on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Wells Fargo & Company lowered their price target on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Bio-Rad Laboratories currently has an average rating of “Moderate Buy” and an average target price of $395.20.

Bio-Rad Laboratories 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.