Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd raised its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 7.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,445 shares of the medical research company’s stock after acquiring an additional 226 shares during the period. IFM Investors Pty Ltd’s holdings in Bio-Rad Laboratories were worth $839,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BIO. Wealthfront Advisers LLC acquired a new position in Bio-Rad Laboratories in the 4th quarter valued at $342,686,000. Bank of America Corp DE raised its holdings in Bio-Rad Laboratories by 705.9% in the 4th quarter. Bank of America Corp DE now owns 427,292 shares of the medical research company’s stock valued at $140,370,000 after acquiring an additional 374,269 shares during the last quarter. Ariel Investments LLC raised its holdings in Bio-Rad Laboratories by 48.0% in the 4th quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company’s stock valued at $184,138,000 after acquiring an additional 181,829 shares during the last quarter. GAMMA Investing LLC raised its holdings in Bio-Rad Laboratories by 22,131.7% in the 1st quarter. GAMMA Investing LLC now owns 147,841 shares of the medical research company’s stock valued at $36,008,000 after acquiring an additional 147,176 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Bio-Rad Laboratories during the 4th quarter valued at $41,644,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Up 1.6%

Shares of Bio-Rad Laboratories stock opened at $250.90 on Wednesday. The company has a fifty day moving average price of $236.15 and a 200 day moving average price of $270.68. The company has a current ratio of 5.99, a quick ratio of 4.43 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a twelve month low of $211.43 and a twelve month high of $387.99. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of -3.29 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.81. Bio-Rad Laboratories had a negative net margin of 85.16% and a positive return on equity of 4.32%. The firm had revenue of $585.40 million during the quarter, compared to analysts’ expectations of $573.01 million. During the same period in the prior year, the company earned $2.30 EPS. The firm’s revenue was down 4.2% on a year-over-year basis. Equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BIO shares. Wall Street Zen raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup lowered their price objective on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company lowered their price objective on shares of Bio-Rad Laboratories from $260.00 to $245.00 and set an “equal weight” rating for the company in a research note on Monday, June 9th. Royal Bank Of Canada lowered their price objective on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, UBS Group decreased their price target on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $324.25.

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.