Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,332 shares of the medical research company’s stock after buying an additional 511 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bio-Rad Laboratories were worth $2,119,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Avior Wealth Management LLC boosted its holdings in Bio-Rad Laboratories by 3.3% in the 3rd quarter. Avior Wealth Management LLC now owns 999 shares of the medical research company’s stock worth $334,000 after acquiring an additional 32 shares during the period. UMB Bank n.a. grew its holdings in Bio-Rad Laboratories by 140.6% during the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 45 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in Bio-Rad Laboratories by 193.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 62 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Bio-Rad Laboratories by 9.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 947 shares of the medical research company’s stock worth $259,000 after buying an additional 82 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Bio-Rad Laboratories by 37.2% in the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the medical research company’s stock worth $88,000 after buying an additional 87 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup lifted their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada upped their target price on Bio-Rad Laboratories from $446.00 to $469.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Wells Fargo & Company started coverage on shares of Bio-Rad Laboratories in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price target for the company. Finally, StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $391.80.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO opened at $332.28 on Wednesday. The business has a 50 day simple moving average of $341.01 and a 200-day simple moving average of $318.35. Bio-Rad Laboratories, Inc. has a twelve month low of $262.12 and a twelve month high of $387.99. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of -12.16 and a beta of 0.90. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16.

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

Insider Buying and Selling

In other news, COO Andrew J. Last sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $329.94, for a total transaction of $989,820.00. Following the completion of the transaction, the chief operating officer now directly owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. This represents a 28.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.50% of the stock is owned by company 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.