DAVENPORT & Co LLC Buys Shares of 44,353 Bio-Rad Laboratories, Inc. (NYSE:BIO)

DAVENPORT & Co LLC bought a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 44,353 shares of the medical research company’s stock, valued at approximately $15,340,000. DAVENPORT & Co LLC owned 0.16% of Bio-Rad Laboratories as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC bought a new stake in shares of Bio-Rad Laboratories during the 3rd quarter valued at approximately $222,000. Lido Advisors LLC grew its holdings in Bio-Rad Laboratories by 50.2% during the 3rd quarter. Lido Advisors LLC now owns 1,230 shares of the medical research company’s stock worth $441,000 after acquiring an additional 411 shares during the last quarter. Royal London Asset Management Ltd. grew its holdings in Bio-Rad Laboratories by 8.1% during the 3rd quarter. Royal London Asset Management Ltd. now owns 8,183 shares of the medical research company’s stock worth $2,935,000 after acquiring an additional 616 shares during the last quarter. Tudor Investment Corp Et Al bought a new stake in Bio-Rad Laboratories during the 3rd quarter worth approximately $2,529,000. Finally, Comerica Bank bought a new stake in Bio-Rad Laboratories during the 3rd quarter worth approximately $11,054,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $400.00 to $365.00 in a report on Wednesday, April 3rd. UBS Group reduced their price objective on shares of 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. Jefferies Financial Group reaffirmed a “hold” rating and issued a $315.00 price objective (down from $440.00) on shares of Bio-Rad Laboratories in a research note on Monday, June 3rd. Finally, StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Tuesday, May 28th. Two investment 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $436.67.

Bio-Rad Laboratories Stock Up 5.4 %

BIO traded up $15.17 during trading on Thursday, hitting $295.52. 246,524 shares of the company’s stock were exchanged, compared to its average volume of 225,115. The company has a quick ratio of 4.89, a current ratio of 6.57 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $283.29 and its two-hundred day moving average is $308.24. Bio-Rad Laboratories, Inc. has a fifty-two week low of $261.59 and a fifty-two week high of $431.79. The stock has a market cap of $8.43 billion, a P/E ratio of -27.07 and a beta of 0.93.

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

Insider Activity

In related news, EVP Michael Crowley sold 369 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $281.91, for a total transaction of $104,024.79. Following the completion of the transaction, the executive vice president now owns 6,573 shares in the company, valued at $1,852,994.43. The transaction was disclosed in a document filed with the SEC, which is available through this link. 17.50% of the stock is currently owned by corporate insiders.

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.