Proficio Capital Partners LLC Invests $9.82 Million in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Proficio Capital Partners LLC bought a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,894 shares of the medical research company’s stock, valued at approximately $9,820,000. Proficio Capital Partners LLC owned about 0.11% of Bio-Rad Laboratories at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its stake in Bio-Rad Laboratories by 2,175.0% in the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 87 shares during the period. Gladius Capital Management LP bought a new position in Bio-Rad Laboratories during the third quarter valued at $32,000. Asset Planning Inc bought a new position in Bio-Rad Laboratories during the fourth quarter valued at $33,000. UMB Bank n.a. increased its position in Bio-Rad Laboratories by 41.6% in the fourth quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock worth $36,000 after buying an additional 32 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Bio-Rad Laboratories during the 3rd quarter valued at $55,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Trading Down 0.4 %

Shares of BIO stock opened at $264.60 on Monday. The company has a market capitalization of $7.41 billion, a PE ratio of -4.07 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a 52-week low of $262.11 and a 52-week high of $387.99. The business’s fifty day moving average is $327.02 and its 200 day moving average is $332.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.85 and a current ratio of 6.48.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. On average, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BIO has been the subject of a number of research reports. Wells Fargo & Company cut their target price on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $481.00 price objective on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Finally, StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $395.20.

About Bio-Rad Laboratories

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.