DAVENPORT & Co LLC Invests $15.34 Million in Bio-Rad Laboratories, Inc. (NYSE:BIO)

DAVENPORT & Co LLC acquired a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 44,353 shares of the medical research company’s stock, valued at approximately $15,340,000.

Several other institutional investors have also recently modified their holdings of BIO. O Shaughnessy Asset Management LLC purchased a new position in Bio-Rad Laboratories during the third quarter valued at approximately $222,000. Lido Advisors LLC raised its position in Bio-Rad Laboratories by 50.2% during the third quarter. Lido Advisors LLC now owns 1,230 shares of the medical research company’s stock valued at $441,000 after acquiring an additional 411 shares in the last quarter. Royal London Asset Management Ltd. raised its position in Bio-Rad Laboratories by 8.1% during the third quarter. Royal London Asset Management Ltd. now owns 8,183 shares of the medical research company’s stock valued at $2,935,000 after acquiring an additional 616 shares in the last quarter. Tudor Investment Corp Et Al acquired a new stake in Bio-Rad Laboratories in the third quarter valued at approximately $2,529,000. Finally, Comerica Bank acquired a new stake in Bio-Rad Laboratories in the third quarter valued at approximately $11,054,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 369 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $281.91, for a total transaction of $104,024.79. Following the sale, the executive vice president now owns 6,573 shares in the company, valued at approximately $1,852,994.43. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 17.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on BIO. Jefferies Financial Group reissued a “hold” rating and issued a $315.00 price objective (down from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Tuesday, May 28th. UBS Group lowered their price target on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $400.00 to $365.00 in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $436.67.

Bio-Rad Laboratories Trading Up 5.4 %

NYSE BIO traded up $15.17 on Thursday, reaching $295.52. 246,524 shares of the company were exchanged, compared to its average volume of 225,115. The business’s fifty day moving average price is $283.29 and its 200 day moving average price is $308.24. The stock has a market capitalization of $8.43 billion, a P/E ratio of -27.07 and a beta of 0.93. The company has a current ratio of 6.57, a quick ratio of 4.89 and a debt-to-equity ratio of 0.13. Bio-Rad Laboratories, Inc. has a fifty-two week low of $261.59 and a fifty-two week high of $431.79.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Tuesday, May 7th. The medical research company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.25. Bio-Rad Laboratories had a positive return on equity of 3.59% and a negative net margin of 12.37%. The company had revenue of $610.82 million for the quarter, compared to the consensus estimate of $619.09 million. During the same quarter in the previous year, the business earned $3.34 earnings per share. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. Analysts forecast that Bio-Rad Laboratories, Inc. will post 10.8 earnings per share for the current year.

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.