Bellevue Group AG Raises Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Bellevue Group AG increased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 11.0% during the first quarter, Holdings Channel reports. The institutional investor owned 156,618 shares of the medical research company’s stock after buying an additional 15,471 shares during the quarter. Bellevue Group AG’s holdings in Bio-Rad Laboratories were worth $54,169,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in shares of Bio-Rad Laboratories by 36.8% in the fourth quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock valued at $55,000 after acquiring an additional 46 shares during the period. Signaturefd LLC raised its position in Bio-Rad Laboratories by 15.8% in the fourth quarter. Signaturefd LLC now owns 352 shares of the medical research company’s stock worth $114,000 after acquiring an additional 48 shares in the last quarter. Gladius Capital Management LP raised its position in Bio-Rad Laboratories by 65.8% in the fourth quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock worth $39,000 after acquiring an additional 48 shares in the last quarter. Yousif Capital Management LLC raised its position in Bio-Rad Laboratories by 1.9% in the fourth quarter. Yousif Capital Management LLC now owns 2,775 shares of the medical research company’s stock worth $896,000 after acquiring an additional 51 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in Bio-Rad Laboratories by 7.7% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 836 shares of the medical research company’s stock worth $289,000 after acquiring an additional 60 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BIO shares. UBS Group dropped their price target on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their price target for the company from $400.00 to $365.00 in a research report on Wednesday, April 3rd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $315.00 price target (down previously from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $436.67.

Insider Activity

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 369 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $281.91, for a total value of $104,024.79. Following the sale, the executive vice president now owns 6,573 shares of the company’s stock, valued at approximately $1,852,994.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 17.06% of the stock is currently owned by insiders.

Bio-Rad Laboratories Stock Up 1.3 %

Shares of BIO traded up $4.25 during trading on Friday, reaching $319.42. The company’s stock had a trading volume of 243,348 shares, compared to its average volume of 236,487. The company has a quick ratio of 4.89, a current ratio of 6.57 and a debt-to-equity ratio of 0.13. The company has a market cap of $9.11 billion, a price-to-earnings ratio of -30.83 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a twelve month low of $261.59 and a twelve month high of $431.79. The company has a fifty day moving average of $288.60 and a two-hundred day moving average of $306.96.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Tuesday, May 7th. The medical research company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.25. Bio-Rad Laboratories had a positive return on equity of 3.59% and a negative net margin of 12.37%. The business had revenue of $610.82 million during the quarter, compared to analyst estimates of $619.09 million. During the same quarter in the prior year, the firm posted $3.34 earnings per share. The company’s revenue was down 9.8% on a year-over-year basis. On average, sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.8 EPS for the current fiscal year.

About Bio-Rad Laboratories

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.