Strategic Financial Concepts LLC Invests $3.56 Million in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Strategic Financial Concepts LLC purchased a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 10,841 shares of the medical research company’s stock, valued at approximately $3,561,000.

Several other large investors have also recently added to or reduced their stakes in BIO. UMB Bank n.a. increased its stake in Bio-Rad Laboratories by 140.6% during the third 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 during the last quarter. Gladius Capital Management LP acquired a new position in shares of Bio-Rad Laboratories in the 3rd quarter valued at about $32,000. Point72 Hong Kong Ltd bought a new stake in shares of Bio-Rad Laboratories during the 3rd quarter valued at about $55,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Bio-Rad Laboratories by 281.7% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 271 shares of the medical research company’s stock worth $91,000 after acquiring an additional 200 shares during the period. Finally, Quarry LP lifted its holdings in Bio-Rad Laboratories by 38.1% in the third quarter. Quarry LP now owns 297 shares of the medical research company’s stock worth $99,000 after acquiring an additional 82 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup upped their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Finally, StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $394.20.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $341.69 on Monday. The business has a 50 day simple moving average of $341.16 and a 200 day simple moving average of $336.87. 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 firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of -12.50 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a 12-month low of $262.12 and a 12-month high of $387.99.

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.