Ontario Teachers Pension Plan Board purchased a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) during the first quarter, HoldingsChannel.com reports. The fund purchased 1,125 shares of the medical research company’s stock, valued at approximately $344,000.
Several other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Bio-Rad Laboratories by 44.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,857 shares of the medical research company’s stock worth $13,726,000 after purchasing an additional 13,398 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Bio-Rad Laboratories by 2.0% in the 3rd quarter. Vanguard Group Inc now owns 1,832,968 shares of the medical research company’s stock worth $573,701,000 after purchasing an additional 35,261 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Bio-Rad Laboratories by 40.1% in the 4th quarter. Rhumbline Advisers now owns 55,162 shares of the medical research company’s stock worth $12,810,000 after purchasing an additional 15,793 shares during the last quarter. Dupont Capital Management Corp acquired a new position in shares of Bio-Rad Laboratories in the 4th quarter worth approximately $478,000. Finally, LS Investment Advisors LLC grew its stake in shares of Bio-Rad Laboratories by 6.2% in the 4th quarter. LS Investment Advisors LLC now owns 1,411 shares of the medical research company’s stock worth $328,000 after purchasing an additional 82 shares during the last quarter. 64.34% of the stock is currently owned by institutional investors.
In other Bio-Rad Laboratories news, EVP Timothy S. Ernst sold 345 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $290.00, for a total value of $100,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 27.84% of the company’s stock.
Several brokerages have recently issued reports on BIO. Zacks Investment Research raised shares of Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $360.00 price objective on the stock in a research note on Wednesday, March 6th. Barclays lifted their price objective on shares of Bio-Rad Laboratories from $315.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. ValuEngine cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Deutsche Bank lifted their price objective on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $365.00.
Shares of BIO traded down $1.23 during midday trading on Wednesday, hitting $294.91. The stock had a trading volume of 1,462 shares, compared to its average volume of 235,399. Bio-Rad Laboratories, Inc. has a fifty-two week low of $220.05 and a fifty-two week high of $345.15. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 50.67, a PEG ratio of 2.70 and a beta of 1.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.57 and a quick ratio of 3.24.
Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Wednesday, May 8th. The medical research company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.12 by $0.53. Bio-Rad Laboratories had a net margin of 24.84% and a return on equity of 4.15%. The company had revenue of $553.98 million during the quarter, compared to analysts’ expectations of $548.82 million. Analysts anticipate that Bio-Rad Laboratories, Inc. will post 7.15 earnings per share 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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