Bfsg LLC Takes Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Bfsg LLC purchased a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 237 shares of the medical research company’s stock, valued at approximately $77,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Treasurer of the State of North Carolina increased its stake in 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 worth $3,402,000 after purchasing an additional 40 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Bio-Rad Laboratories by 2.5% during the third quarter. Teacher Retirement System of Texas now owns 1,711 shares of the medical research company’s stock valued at $613,000 after buying an additional 41 shares during the period. Signaturefd LLC increased its stake in shares of Bio-Rad Laboratories by 15.8% during the fourth quarter. Signaturefd LLC now owns 352 shares of the medical research company’s stock valued at $114,000 after buying an additional 48 shares during the period. Yousif Capital Management LLC grew its stake in Bio-Rad Laboratories by 1.9% in the fourth quarter. Yousif Capital Management LLC now owns 2,775 shares of the medical research company’s stock valued at $896,000 after purchasing an additional 51 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in Bio-Rad Laboratories by 0.7% in the third quarter. HighTower Advisors LLC now owns 7,258 shares of the medical research company’s stock worth $2,606,000 after acquiring an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Activity at Bio-Rad Laboratories

In related news, EVP Michael Crowley sold 3,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total value of $1,008,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,942 shares of the company’s stock, valued at approximately $2,332,512. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BIO. Royal Bank of Canada lowered their price target on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating for the company in a report on Friday, February 16th. UBS Group lifted their target price on Bio-Rad Laboratories from $395.00 to $420.00 and gave the stock a “buy” rating in a report on Friday, February 16th. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their price target for the company from $400.00 to $365.00 in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $468.00.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock opened at $275.42 on Friday. Bio-Rad Laboratories, Inc. has a 12 month low of $261.59 and a 12 month high of $473.50. The business has a 50 day simple moving average of $326.24 and a 200-day simple moving average of $318.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.34 and a current ratio of 5.83.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.17. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. The business had revenue of $681.18 million during the quarter, compared to analysts’ expectations of $685.00 million. During the same period in the previous year, the business earned $3.31 earnings per share. The business’s revenue was down 6.7% compared to the same quarter last year. Analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.41 EPS for the current year.

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.