CIBC Private Wealth Group LLC Invests $13.98 Million in Bio-Rad Laboratories, Inc. (NYSE:BIO)

CIBC Private Wealth Group LLC purchased a new position in Bio-Rad Laboratories, Inc. (NYSE:BIOFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,287 shares of the medical research company’s stock, valued at approximately $13,977,000.

Other hedge funds have also recently made changes to their positions in the company. Gladius Capital Management LP grew its holdings in shares of Bio-Rad Laboratories by 65.8% in the fourth quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock worth $39,000 after purchasing an additional 48 shares during the last quarter. Principal Securities Inc. bought a new position in Bio-Rad Laboratories during the 4th quarter worth about $41,000. GAMMA Investing LLC bought a new position in Bio-Rad Laboratories during the 4th quarter worth about $42,000. Parallel Advisors LLC grew its holdings in Bio-Rad Laboratories by 36.8% during the 4th quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock worth $55,000 after acquiring an additional 46 shares in the last quarter. Finally, Bfsg LLC bought a new position in Bio-Rad Laboratories during the 4th quarter worth about $77,000. 65.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on BIO. Citigroup cut shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $400.00 to $365.00 in a report on Wednesday, April 3rd. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, May 28th. UBS Group dropped their target price on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Royal Bank of Canada dropped their target price on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $315.00 price target (down from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $436.67.

View Our Latest Research Report on BIO

Bio-Rad Laboratories Stock Performance

Shares of NYSE BIO opened at $289.10 on Thursday. Bio-Rad Laboratories, Inc. has a 12 month low of $261.59 and a 12 month high of $431.79. The firm’s 50 day simple moving average is $296.56 and its 200-day simple moving average is $313.38. The company has a quick ratio of 4.89, a current ratio of 6.57 and a debt-to-equity ratio of 0.13.

Bio-Rad Laboratories (NYSE:BIOGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The medical research company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.25. Bio-Rad Laboratories had a negative net margin of 12.37% and a positive return on equity of 3.59%. The firm had revenue of $610.82 million for the quarter, compared to analysts’ expectations of $619.09 million. During the same quarter last year, the company earned $3.34 EPS. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.41 EPS for the current year.

Bio-Rad Laboratories Company Profile

(Free Report)

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.

Further Reading

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

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