HighTower Advisors LLC grew its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Rating) by 1.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,184 shares of the medical research company’s stock after buying an additional 86 shares during the period. HighTower Advisors LLC’s holdings in Bio-Rad Laboratories were worth $4,054,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in BIO. BlackRock Inc. raised its position in Bio-Rad Laboratories by 0.8% during the fourth quarter. BlackRock Inc. now owns 1,768,081 shares of the medical research company’s stock valued at $1,335,907,000 after purchasing an additional 14,150 shares during the period. State Street Corp raised its holdings in Bio-Rad Laboratories by 2.7% during the 4th quarter. State Street Corp now owns 1,008,534 shares of the medical research company’s stock valued at $762,018,000 after buying an additional 26,229 shares during the period. Alliancebernstein L.P. lifted its position in Bio-Rad Laboratories by 7.3% in the fourth quarter. Alliancebernstein L.P. now owns 586,489 shares of the medical research company’s stock worth $443,133,000 after buying an additional 40,012 shares during the last quarter. Brown Advisory Inc. boosted its stake in Bio-Rad Laboratories by 7.9% during the first quarter. Brown Advisory Inc. now owns 581,924 shares of the medical research company’s stock worth $329,581,000 after buying an additional 42,563 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Bio-Rad Laboratories by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 176,924 shares of the medical research company’s stock valued at $133,682,000 after acquiring an additional 1,629 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors.
Bio-Rad Laboratories Trading Down 1.6 %
BIO stock opened at $478.32 on Friday. The company has a market capitalization of $14.21 billion, a PE ratio of -7.21 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 5.30 and a quick ratio of 4.22. Bio-Rad Laboratories, Inc. has a 12 month low of $462.61 and a 12 month high of $825.63. The firm’s 50-day moving average is $516.38 and its 200 day moving average is $533.78.
Insiders Place Their Bets
In other news, CAO Ajit Ramalingam sold 518 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $537.00, for a total transaction of $278,166.00. Following the transaction, the chief accounting officer now owns 98 shares in the company, valued at $52,626. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 27.40% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on BIO shares. Credit Suisse Group started coverage on shares of Bio-Rad Laboratories in a research note on Wednesday, August 24th. They set an “outperform” rating and a $715.00 price target for the company. Citigroup cut their target price on Bio-Rad Laboratories from $750.00 to $700.00 and set a “buy” rating on the stock in a research note on Friday, July 8th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $705.00.
Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.
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