Allworth Financial LP Acquires 104 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Allworth Financial LP grew its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 260.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144 shares of the medical research company’s stock after buying an additional 104 shares during the period. Allworth Financial LP’s holdings in Bio-Rad Laboratories were worth $36,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of America Corp DE boosted its position in shares of Bio-Rad Laboratories by 705.9% during the 4th quarter. Bank of America Corp DE now owns 427,292 shares of the medical research company’s stock valued at $140,370,000 after acquiring an additional 374,269 shares during the last quarter. Ariel Investments LLC boosted its position in Bio-Rad Laboratories by 48.0% during the fourth quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company’s stock valued at $184,138,000 after buying an additional 181,829 shares during the period. GAMMA Investing LLC grew its holdings in shares of Bio-Rad Laboratories by 22,131.7% in the first quarter. GAMMA Investing LLC now owns 147,841 shares of the medical research company’s stock worth $36,008,000 after purchasing an additional 147,176 shares during the last quarter. Norges Bank purchased a new position in shares of Bio-Rad Laboratories in the fourth quarter valued at about $41,644,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Bio-Rad Laboratories by 14.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 746,119 shares of the medical research company’s stock worth $245,106,000 after purchasing an additional 91,690 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $246.31 on Friday. Bio-Rad Laboratories, Inc. has a 1-year low of $211.43 and a 1-year high of $387.99. The firm has a 50 day simple moving average of $238.30 and a 200-day simple moving average of $266.78. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of -3.23 and a beta of 0.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.99 and a quick ratio of 4.43.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, May 1st. The medical research company reported $2.54 EPS for the quarter, beating the consensus estimate of $1.73 by $0.81. The firm had revenue of $585.40 million for the quarter, compared to analyst estimates of $573.01 million. Bio-Rad Laboratories had a positive return on equity of 4.32% and a negative net margin of 85.16%. Bio-Rad Laboratories’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.30 earnings per share. On average, analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BIO shares. Wells Fargo & Company lowered their price target on Bio-Rad Laboratories from $260.00 to $245.00 and set an “equal weight” rating for the company in a research report on Monday, June 9th. Royal Bank Of Canada lowered their price target on Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Wall Street Zen lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. UBS Group dropped their target price on Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Finally, Citigroup reduced their price target on Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $324.25.

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. 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.