Oppenheimer Asset Management Inc. lifted its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 109.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,447 shares of the medical research company’s stock after purchasing an additional 1,801 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Bio-Rad Laboratories were worth $1,079,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boussard & Gavaudan Investment Management LLP bought a new stake in Bio-Rad Laboratories in the third quarter worth $202,000. Raymond James Trust N.A. bought a new stake in Bio-Rad Laboratories in the second quarter worth $212,000. World Asset Management Inc bought a new stake in Bio-Rad Laboratories in the second quarter worth $213,000. We Are One Seven LLC bought a new stake in Bio-Rad Laboratories in the third quarter worth $254,000. Finally, Atria Investments LLC bought a new stake in Bio-Rad Laboratories in the third quarter worth $337,000. Institutional investors own 63.80% of the company’s stock.
Several equities research analysts have commented on the company. Zacks Investment Research downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Morgan Stanley initiated coverage on Bio-Rad Laboratories in a report on Thursday, September 20th. They set an “equal weight” rating and a $335.00 price target on the stock. Barclays initiated coverage on Bio-Rad Laboratories in a report on Wednesday, September 5th. They set an “equal weight” rating and a $345.00 price target on the stock. Jefferies Financial Group upped their price target on Bio-Rad Laboratories from $325.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Finally, Goldman Sachs Group initiated coverage on Bio-Rad Laboratories in a report on Wednesday, October 17th. They set a “buy” rating and a $350.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $338.43.
Shares of NYSE:BIO opened at $269.77 on Monday. The firm has a market cap of $8.05 billion, a PE ratio of 65.80, a price-to-earnings-growth ratio of 2.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.16 and a current ratio of 4.49. Bio-Rad Laboratories, Inc. has a 1 year low of $231.00 and a 1 year high of $345.15.
Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Thursday, November 1st. The medical research company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.25). The business had revenue of $545.10 million for the quarter, compared to the consensus estimate of $541.23 million. Bio-Rad Laboratories had a net margin of 55.13% and a return on equity of 3.72%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. On average, research analysts predict that Bio-Rad Laboratories, Inc. will post 6.38 earnings per share for the current fiscal year.
Bio-Rad Laboratories 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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