Bank of America Corp DE Purchases 25,010 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Bank of America Corp DE grew its position in Bio-Rad Laboratories, Inc. (NYSE:BIOGet Rating) by 6.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 394,499 shares of the medical research company’s stock after acquiring an additional 25,010 shares during the quarter. Bank of America Corp DE owned 1.32% of Bio-Rad Laboratories worth $222,193,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Polar Asset Management Partners Inc. acquired a new position in shares of Bio-Rad Laboratories in the 1st quarter worth approximately $34,864,000. Prudential Financial Inc. raised its holdings in shares of Bio-Rad Laboratories by 181.0% in the 1st quarter. Prudential Financial Inc. now owns 85,053 shares of the medical research company’s stock worth $47,905,000 after buying an additional 54,789 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Bio-Rad Laboratories by 122.5% during the 4th quarter. Point72 Asset Management L.P. now owns 79,058 shares of the medical research company’s stock valued at $59,734,000 after purchasing an additional 43,534 shares in the last quarter. Brown Advisory Inc. increased its holdings in Bio-Rad Laboratories by 7.9% during the 1st quarter. Brown Advisory Inc. now owns 581,924 shares of the medical research company’s stock valued at $329,581,000 after purchasing an additional 42,563 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Bio-Rad Laboratories by 7.3% during the 4th quarter. Alliancebernstein L.P. now owns 586,489 shares of the medical research company’s stock valued at $443,133,000 after purchasing an additional 40,012 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.

Insider Activity

In other news, CAO Ajit Ramalingam sold 518 shares of Bio-Rad Laboratories stock in a transaction on Friday, August 5th. The stock was sold at an average price of $537.00, for a total value of $278,166.00. Following the completion of the sale, the chief accounting officer now directly owns 98 shares of the company’s stock, valued at approximately $52,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 27.40% of the company’s stock.

Bio-Rad Laboratories Stock Down 1.8 %

NYSE BIO opened at $437.39 on Wednesday. The stock has a fifty day moving average of $509.09 and a 200-day moving average of $522.00. The stock has a market capitalization of $12.99 billion, a P/E ratio of -6.60 and a beta of 0.99. Bio-Rad Laboratories, Inc. has a 52 week low of $433.79 and a 52 week high of $804.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.22 and a current ratio of 5.30.

Bio-Rad Laboratories (NYSE:BIOGet Rating) last released its earnings results on Thursday, July 28th. The medical research company reported $3.38 EPS for the quarter, beating the consensus estimate of $2.46 by $0.92. The company had revenue of $691.10 million during the quarter, compared to analysts’ expectations of $664.60 million. Bio-Rad Laboratories had a positive return on equity of 3.82% and a negative net margin of 67.66%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $3.54 EPS. On average, equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 14.35 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on BIO. Credit Suisse Group began coverage on Bio-Rad Laboratories in a report on Wednesday, August 24th. They set an “outperform” rating and a $715.00 price target for the company. Citigroup dropped their price target on Bio-Rad Laboratories from $750.00 to $700.00 and set a “buy” rating for the company in a report on Friday, July 8th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $705.00.

Bio-Rad Laboratories Profile

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Bio-Rad Laboratories, Inc manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.

Further Reading

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Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

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