Bellevue Group AG Purchases 15,471 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Bellevue Group AG boosted its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 11.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,618 shares of the medical research company’s stock after purchasing an additional 15,471 shares during the period. Bellevue Group AG owned about 0.55% of Bio-Rad Laboratories worth $54,169,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth approximately $73,142,000. Parsifal Capital Management LP purchased a new stake in Bio-Rad Laboratories during the fourth quarter valued at approximately $61,866,000. Goldman Sachs Group Inc. grew its stake in shares of Bio-Rad Laboratories by 454.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 144,333 shares of the medical research company’s stock valued at $46,604,000 after buying an additional 118,304 shares during the last quarter. First Pacific Advisors LP boosted its position in Bio-Rad Laboratories by 2,052.5% during the 1st quarter. First Pacific Advisors LP now owns 104,739 shares of the medical research company’s stock valued at $36,226,000 after acquiring an additional 99,873 shares in the last quarter. Finally, Ariel Investments LLC boosted its position in Bio-Rad Laboratories by 1,353.9% during the 1st quarter. Ariel Investments LLC now owns 65,092 shares of the medical research company’s stock valued at $22,513,000 after acquiring an additional 60,615 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Buying and Selling at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 369 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $281.91, for a total transaction of $104,024.79. Following the transaction, the executive vice president now directly owns 6,573 shares in the company, valued at approximately $1,852,994.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 17.06% of the company’s stock.

Analysts Set New Price Targets

BIO has been the topic of a number of analyst reports. UBS Group dropped their target price on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Jefferies Financial Group reissued a “hold” rating and set a $315.00 price target (down from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $400.00 to $365.00 in a report 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 stock. According to MarketBeat, Bio-Rad Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $436.67.

Bio-Rad Laboratories Trading Up 1.3 %

Bio-Rad Laboratories stock traded up $4.25 during midday trading on Friday, hitting $319.42. 243,348 shares of the stock were exchanged, compared to its average volume of 236,487. The company has a fifty day simple moving average of $288.60 and a two-hundred day simple moving average of $306.96. Bio-Rad Laboratories, Inc. has a 52 week low of $261.59 and a 52 week high of $431.79. The stock has a market capitalization of $9.11 billion, a PE ratio of -30.83 and a beta of 0.93. The company has a quick ratio of 4.89, a current ratio of 6.57 and a debt-to-equity ratio of 0.13.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Tuesday, May 7th. The medical research company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.25. The business had revenue of $610.82 million for 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 period in the previous year, the company earned $3.34 earnings per share. Equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.8 EPS for the current fiscal 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.