First Citizens Bank & Trust Co. acquired a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 3rd quarter, Holdings Channel reports. The fund acquired 1,246 shares of the medical research company’s stock, valued at approximately $390,000.
Other institutional investors have also added to or reduced their stakes in the company. Boussard & Gavaudan Investment Management LLP purchased a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth about $202,000. Raymond James Trust N.A. purchased a new stake in shares of Bio-Rad Laboratories in the 2nd quarter worth about $212,000. World Asset Management Inc purchased a new stake in shares of Bio-Rad Laboratories in the 2nd quarter worth about $213,000. We Are One Seven LLC purchased a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth about $254,000. Finally, Atria Investments LLC purchased a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth about $337,000. Institutional investors and hedge funds own 63.21% of the company’s stock.
Several research firms recently commented on BIO. Zacks Investment Research lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. Morgan Stanley began coverage on shares of Bio-Rad Laboratories in a research report on Thursday, September 20th. They issued an “equal weight” rating and a $335.00 price objective on the stock. Barclays began coverage on shares of Bio-Rad Laboratories in a research report on Wednesday, September 5th. They issued an “equal weight” rating and a $345.00 price objective on the stock. Jefferies Financial Group boosted their price objective on shares of Bio-Rad Laboratories from $325.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Finally, Goldman Sachs Group initiated coverage on shares of Bio-Rad Laboratories in a research report on Wednesday. They issued a “buy” rating and a $350.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Bio-Rad Laboratories currently has a consensus rating of “Buy” and an average target price of $342.71.
NYSE:BIO opened at $280.96 on Friday. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 68.53, a PEG ratio of 2.97 and a beta of 0.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.17 and a current ratio of 4.50. Bio-Rad Laboratories, Inc. has a 12-month low of $214.44 and a 12-month high of $345.15.
Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Tuesday, August 7th. The medical research company reported $1.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.37. The company had revenue of $575.91 million for the quarter, compared to analyst estimates of $551.05 million. Bio-Rad Laboratories had a net margin of 44.77% and a return on equity of 4.23%. Analysts forecast that Bio-Rad Laboratories, Inc. will post 6.38 earnings per share for the current year.
Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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