Neuberger Berman Group LLC raised its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 0.2% during the first quarter, Holdings Channel reports. The institutional investor owned 114,711 shares of the medical research company’s stock after purchasing an additional 201 shares during the quarter. Neuberger Berman Group LLC’s holdings in Bio-Rad Laboratories were worth $35,065,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Quadrant Capital Group LLC increased its holdings in shares of Bio-Rad Laboratories by 205.9% in the 1st quarter. Quadrant Capital Group LLC now owns 104 shares of the medical research company’s stock worth $29,000 after buying an additional 70 shares during the last quarter. Financial Gravity Wealth Inc. bought a new position in shares of Bio-Rad Laboratories during the 1st quarter valued at $57,000. Rockefeller Capital Management L.P. bought a new position in shares of Bio-Rad Laboratories during the 1st quarter valued at $81,000. Enlightenment Research LLC bought a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at $70,000. Finally, Osborn Williams & Donohoe LLC bought a new position in shares of Bio-Rad Laboratories during the 1st quarter valued at $98,000. 64.34% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on BIO shares. Zacks Investment Research raised shares of Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. Barclays increased their target price on shares of Bio-Rad Laboratories from $315.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Deutsche Bank increased their target price on shares of Bio-Rad Laboratories from $330.00 to $350.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, ValuEngine lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $365.00.
BIO stock opened at $298.74 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.24 and a current ratio of 4.57. Bio-Rad Laboratories, Inc. has a 52 week low of $220.05 and a 52 week high of $345.15. The firm has a market cap of $8.86 billion, a P/E ratio of 51.15, a price-to-earnings-growth ratio of 2.77 and a beta of 1.22.
Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Wednesday, May 8th. The medical research company reported $1.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.53. The company had revenue of $553.98 million for the quarter, compared to analyst estimates of $548.82 million. Bio-Rad Laboratories had a net margin of 24.84% and a return on equity of 4.15%. Research analysts expect that Bio-Rad Laboratories, Inc. will post 7.15 earnings per share for the current year.
In other Bio-Rad Laboratories news, EVP Timothy S. Ernst sold 345 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $290.00, for a total transaction of $100,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 27.84% of the company’s stock.
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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