Sequoia Financial Advisors LLC Purchases Shares of 831 Bio-Rad Laboratories, Inc. (NYSE:BIO)

Sequoia Financial Advisors LLC purchased a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 831 shares of the medical research company’s stock, valued at approximately $268,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Bio-Rad Laboratories by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,317,941 shares of the medical research company’s stock valued at $1,305,534,000 after purchasing an additional 30,476 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Bio-Rad Laboratories by 1.0% in the 1st quarter. BlackRock Inc. now owns 1,598,604 shares of the medical research company’s stock worth $765,763,000 after buying an additional 16,216 shares during the last quarter. State Street Corp boosted its stake in shares of Bio-Rad Laboratories by 0.3% in the 3rd quarter. State Street Corp now owns 958,704 shares of the medical research company’s stock worth $399,914,000 after buying an additional 2,869 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Bio-Rad Laboratories by 3.1% in the 3rd quarter. Brown Advisory Inc. now owns 955,732 shares of the medical research company’s stock worth $342,582,000 after buying an additional 28,724 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Bio-Rad Laboratories by 12.6% in the 1st quarter. Bank of America Corp DE now owns 460,215 shares of the medical research company’s stock worth $220,452,000 after buying an additional 51,419 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock opened at $279.73 on Friday. Bio-Rad Laboratories, Inc. has a 12 month low of $261.59 and a 12 month high of $473.76. The company has a current ratio of 5.83, a quick ratio of 4.34 and a debt-to-equity ratio of 0.14. The business’s 50 day simple moving average is $329.85 and its 200 day simple moving average is $320.23. The company has a market cap of $7.98 billion, a price-to-earnings ratio of -13.02 and a beta of 0.87.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.10 EPS for the quarter, beating the consensus estimate of $2.93 by $0.17. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. The business had revenue of $681.18 million for the quarter, compared to the consensus estimate of $685.00 million. During the same quarter in the prior year, the business earned $3.31 earnings per share. Bio-Rad Laboratories’s revenue for the quarter was down 6.7% on a year-over-year basis. Sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 10.41 EPS for the current year.

Insider Buying and Selling at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 3,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the sale, the executive vice president now owns 6,942 shares of the company’s stock, valued at approximately $2,332,512. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 17.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BIO shares. Royal Bank of Canada cut their target price on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. UBS Group boosted their target price on Bio-Rad Laboratories from $395.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their target price for the stock from $400.00 to $365.00 in a research note on Wednesday, April 3rd. Finally, StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Two research 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $468.00.

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.