Park Avenue Securities LLC Increases Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Park Avenue Securities LLC raised its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIOFree Report) by 28.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,291 shares of the medical research company’s stock after buying an additional 504 shares during the period. Park Avenue Securities LLC’s holdings in Bio-Rad Laboratories were worth $753,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in Bio-Rad Laboratories by 140.6% during the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after buying an additional 45 shares during the last quarter. Gladius Capital Management LP purchased a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth $32,000. Point72 Hong Kong Ltd purchased a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth $55,000. Quarry LP purchased a new stake in shares of Bio-Rad Laboratories in the 2nd quarter worth $59,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Bio-Rad Laboratories by 281.7% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 271 shares of the medical research company’s stock worth $91,000 after purchasing an additional 200 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on BIO. Citigroup upped their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. Finally, StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $394.20.

Get Our Latest Stock Analysis on Bio-Rad Laboratories

Bio-Rad Laboratories Trading Up 3.5 %

BIO stock opened at $354.26 on Wednesday. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. Bio-Rad Laboratories, Inc. has a twelve month low of $262.12 and a twelve month high of $387.99. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of -12.96 and a beta of 0.90. The firm’s fifty day simple moving average is $335.83 and its two-hundred day simple moving average is $331.74.

Bio-Rad Laboratories (NYSE:BIOGet Free Report) last issued its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The firm had revenue of $649.70 million during the quarter, compared to analyst estimates of $628.18 million. During the same period in the previous year, the firm earned $2.33 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. As a group, analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.33 earnings per share for the current year.

About Bio-Rad Laboratories

(Free Report)

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.

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Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

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