Bio-Rad Laboratories, Inc. $BIO Stake Raised by Fifth Third Bancorp

Fifth Third Bancorp raised its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 91.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,932 shares of the medical research company’s stock after acquiring an additional 6,175 shares during the quarter. Fifth Third Bancorp’s holdings in Bio-Rad Laboratories were worth $3,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in BIO. Danske Bank A S bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth approximately $30,000. Geneos Wealth Management Inc. grew its position in Bio-Rad Laboratories by 115.2% in the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock worth $34,000 after buying an additional 76 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Bio-Rad Laboratories in the fourth quarter valued at $47,000. Farther Finance Advisors LLC increased its holdings in shares of Bio-Rad Laboratories by 76.9% in the fourth quarter. Farther Finance Advisors LLC now owns 184 shares of the medical research company’s stock valued at $56,000 after buying an additional 80 shares in the last quarter. Finally, Itau Unibanco Holding S.A. lifted its position in shares of Bio-Rad Laboratories by 57.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 197 shares of the medical research company’s stock valued at $60,000 after acquiring an additional 72 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BIO shares. Royal Bank Of Canada began coverage on Bio-Rad Laboratories in a report on Friday, May 15th. They issued an “outperform” rating and a $320.00 target price on the stock. Weiss Ratings lowered Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Wells Fargo & Company cut their price objective on Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Citigroup cut shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $375.00 to $300.00 in a report on Tuesday, April 7th. Finally, Zacks Research downgraded shares of Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Bio-Rad Laboratories currently has a consensus rating of “Reduce” and a consensus price target of $303.33.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $304.61 on Monday. Bio-Rad Laboratories, Inc. has a 1-year low of $236.73 and a 1-year high of $343.12. The company has a current ratio of 3.21, a quick ratio of 2.37 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 50.18 and a beta of 1.08. The stock’s fifty day simple moving average is $288.96 and its 200-day simple moving average is $287.50.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($0.08). Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The business had revenue of $592.10 million for the quarter, compared to analyst estimates of $589.91 million. During the same period in the previous year, the firm posted $2.54 earnings per share. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 9.42 earnings per share for the current fiscal year.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.