JPMorgan Chase & Co. grew its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 44.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,857 shares of the medical research company’s stock after acquiring an additional 13,398 shares during the quarter. JPMorgan Chase & Co. owned about 0.15% of Bio-Rad Laboratories worth $13,726,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in BIO. Security National Trust Co. purchased a new stake in shares of Bio-Rad Laboratories during the third quarter valued at $125,000. Boussard & Gavaudan Investment Management LLP purchased a new stake in shares of Bio-Rad Laboratories during the third quarter valued at $202,000. Regentatlantic Capital LLC purchased a new stake in shares of Bio-Rad Laboratories during the third quarter valued at $222,000. We Are One Seven LLC purchased a new stake in shares of Bio-Rad Laboratories during the third quarter valued at $254,000. Finally, Atria Investments LLC purchased a new stake in shares of Bio-Rad Laboratories during the third quarter valued at $337,000. 62.37% of the stock is currently owned by institutional investors.
BIO has been the topic of several recent analyst reports. Zacks Investment Research cut Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a research report on Monday, November 12th. Barclays dropped their price objective on Bio-Rad Laboratories from $345.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, November 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $420.00 price objective on shares of Bio-Rad Laboratories in a research report on Monday, September 24th. Goldman Sachs Group began coverage on Bio-Rad Laboratories in a research report on Wednesday, October 17th. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Morgan Stanley began coverage on Bio-Rad Laboratories in a research report on Thursday, September 20th. They issued an “equal weight” rating and a $335.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Bio-Rad Laboratories has an average rating of “Hold” and an average price target of $338.43.
Shares of NYSE:BIO opened at $256.23 on Friday. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 62.50, a PEG ratio of 3.20 and a beta of 1.09. 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 52-week low of $231.00 and a 52-week high of $345.15.
Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Thursday, November 1st. The medical research company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.25). The firm had revenue of $545.10 million during the quarter, compared to analysts’ expectations of $541.23 million. Bio-Rad Laboratories had a return on equity of 3.72% and a net margin of 55.13%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. As a group, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 5.47 EPS for the current year.
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About Bio-Rad Laboratories
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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