Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 42.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,165 shares of the medical research company’s stock after buying an additional 350 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bio-Rad Laboratories were worth $278,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in BIO. American Century Companies Inc. purchased a new position in Bio-Rad Laboratories during the third quarter worth about $125,820,000. Royal Bank of Canada boosted its stake in Bio-Rad Laboratories by 101.2% during the second quarter. Royal Bank of Canada now owns 3,324 shares of the medical research company’s stock worth $752,000 after buying an additional 281,264 shares during the period. Westfield Capital Management Co. LP purchased a new position in Bio-Rad Laboratories during the third quarter worth about $22,175,000. Claar Advisors LLC purchased a new position in Bio-Rad Laboratories during the third quarter worth about $13,333,000. Finally, TimesSquare Capital Management LLC boosted its stake in Bio-Rad Laboratories by 7.0% during the third quarter. TimesSquare Capital Management LLC now owns 665,100 shares of the medical research company’s stock worth $147,799,000 after buying an additional 43,450 shares during the period. 64.51% of the stock is owned by institutional investors.
BIO has been the subject of several research analyst reports. Citigroup increased their target price on shares of Bio-Rad Laboratories to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Wells Fargo & Co lowered their target price on shares of Bio-Rad Laboratories from $290.00 to $280.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. CL King lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating in a research note on Friday, February 16th. Jefferies Group raised their price objective on shares of Bio-Rad Laboratories to $325.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, Zacks Investment Research raised shares of Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $291.00 price objective for the company in a research note on Wednesday, December 13th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $295.20.
Bio-Rad Laboratories, Inc. (NYSE:BIO) opened at $270.94 on Wednesday. The company has a quick ratio of 2.75, a current ratio of 3.93 and a debt-to-equity ratio of 0.15. Bio-Rad Laboratories, Inc. has a 12 month low of $194.01 and a 12 month high of $279.59. The company has a market cap of $8,150.30, a P/E ratio of 80.54, a PEG ratio of 2.34 and a beta of 0.89.
Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Tuesday, February 27th. The medical research company reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.22. Bio-Rad Laboratories had a net margin of 5.31% and a return on equity of 3.63%. The business had revenue of $620.43 million during the quarter, compared to analyst estimates of $618.89 million. sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 5.86 EPS for the current year.
Bio-Rad Laboratories announced that its Board of Directors has authorized a stock buyback plan on Tuesday, November 28th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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Bio-Rad Laboratories Profile
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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