Bfsg LLC Invests $77,000 in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Bfsg LLC bought a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO) in the fourth quarter, Holdings Channel.com reports. The fund bought 237 shares of the medical research company’s stock, valued at approximately $77,000.

A number of other institutional investors have also recently added to or reduced their stakes in BIO. Massachusetts Financial Services Co. MA acquired a new stake in shares of Bio-Rad Laboratories during the 3rd quarter valued at $116,036,000. Parnassus Investments LLC acquired a new stake in Bio-Rad Laboratories during the 3rd quarter valued at $79,143,000. Deerfield Management Company L.P. Series C acquired a new position in shares of Bio-Rad Laboratories in the third quarter worth $62,351,000. Earnest Partners LLC increased its stake in shares of Bio-Rad Laboratories by 25.6% in the third quarter. Earnest Partners LLC now owns 351,510 shares of the medical research company’s stock worth $125,999,000 after acquiring an additional 71,570 shares during the last quarter. Finally, QVIDTVM Management LLC acquired a new position in shares of Bio-Rad Laboratories in the third quarter worth $24,794,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BIO. UBS Group upped their price target on shares of Bio-Rad Laboratories from $395.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday. Citigroup downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada decreased their price target on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating for the company in a report on Friday, February 16th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $468.00.

Bio-Rad Laboratories Stock Down 1.0 %

BIO stock opened at $275.42 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.34 and a current ratio of 5.83. The company has a 50-day moving average of $326.24 and a two-hundred day moving average of $318.15. Bio-Rad Laboratories, Inc. has a 52-week low of $261.59 and a 52-week high of $473.50.

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

Insider Buying and Selling

In related news, EVP Michael Crowley sold 3,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total value of $1,008,000.00. Following the completion of the transaction, the executive vice president now owns 6,942 shares of the company’s stock, valued at $2,332,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 17.06% of the company’s stock.

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.