Truist Financial Corp Has $3.76 Million Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Truist Financial Corp lessened its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 21.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,635 shares of the medical research company’s stock after selling 3,184 shares during the quarter. Truist Financial Corp’s holdings in Bio-Rad Laboratories were worth $3,757,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BIO. ING Groep NV acquired a new stake in Bio-Rad Laboratories during the 3rd quarter worth about $44,000. GAMMA Investing LLC purchased a new stake in shares of Bio-Rad Laboratories in the fourth quarter worth approximately $42,000. Bfsg LLC acquired a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth approximately $77,000. Signaturefd LLC grew its position in Bio-Rad Laboratories by 15.8% during the fourth quarter. Signaturefd LLC now owns 352 shares of the medical research company’s stock valued at $114,000 after purchasing an additional 48 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its position in Bio-Rad Laboratories by 25.0% during the third quarter. Banque Cantonale Vaudoise now owns 375 shares of the medical research company’s stock valued at $135,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Up 0.8 %

BIO stock opened at $281.97 on Tuesday. The firm has a market cap of $8.04 billion, a PE ratio of -13.12 and a beta of 0.94. Bio-Rad Laboratories, Inc. has a 1 year low of $261.59 and a 1 year high of $431.79. The company has a fifty day simple moving average of $318.52 and a 200 day simple moving average of $314.72. The company has a current ratio of 5.83, a quick ratio of 4.34 and a debt-to-equity ratio of 0.14.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.17. The company had revenue of $681.18 million during the quarter, compared to analysts’ expectations of $685.00 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.31 earnings per share. Sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.41 EPS for the current fiscal year.

Insider Activity at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the transaction, the executive vice president now owns 6,942 shares in the company, valued at $2,332,512. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 17.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BIO. UBS Group increased their target price on shares of Bio-Rad Laboratories from $395.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Royal Bank of Canada lowered their target price on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. Finally, Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $468.00.

Bio-Rad Laboratories 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. 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.