Contravisory Investment Management Inc. Makes New $569,000 Investment in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Contravisory Investment Management Inc. purchased a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,731 shares of the medical research company’s stock, valued at approximately $569,000.

A number of other institutional investors have also made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in Bio-Rad Laboratories by 4.7% during the second quarter. American Century Companies Inc. now owns 5,380 shares of the medical research company’s stock worth $1,469,000 after buying an additional 240 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Bio-Rad Laboratories by 26.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 15,587 shares of the medical research company’s stock worth $4,228,000 after acquiring an additional 3,252 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Bio-Rad Laboratories by 19.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,719 shares of the medical research company’s stock valued at $743,000 after purchasing an additional 446 shares during the period. Envestnet Asset Management Inc. increased its stake in Bio-Rad Laboratories by 9.2% in the second quarter. Envestnet Asset Management Inc. now owns 109,051 shares of the medical research company’s stock valued at $29,783,000 after purchasing an additional 9,185 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Bio-Rad Laboratories by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 348,540 shares of the medical research company’s stock worth $95,190,000 after purchasing an additional 1,288 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on BIO. Citigroup upped their price objective on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $481.00 price objective on shares of Bio-Rad Laboratories in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Bio-Rad Laboratories presently has an average rating of “Moderate Buy” and an average target price of $394.20.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO opened at $343.06 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52. The business has a 50-day moving average of $337.60 and a 200-day moving average of $329.16. The stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of -12.55 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a fifty-two week low of $262.12 and a fifty-two week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.85. The firm had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.33 earnings per share. As a group, sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current fiscal year.

Bio-Rad Laboratories Company 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.