Oppenheimer Asset Management Inc. Purchases 757 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Posted by on May 6th, 2023

Oppenheimer Asset Management Inc. raised its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Rating) by 49.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,285 shares of the medical research company’s stock after purchasing an additional 757 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Bio-Rad Laboratories were worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. AIA Group Ltd grew its holdings in Bio-Rad Laboratories by 203.1% during the fourth quarter. AIA Group Ltd now owns 97 shares of the medical research company’s stock valued at $41,000 after purchasing an additional 65 shares during the period. Romano Brothers AND Company purchased a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth $43,000. Atlas Capital Advisors LLC purchased a new stake in shares of Bio-Rad Laboratories during the second quarter worth $50,000. Quantbot Technologies LP purchased a new stake in shares of Bio-Rad Laboratories during the third quarter worth $62,000. Finally, Wipfli Financial Advisors LLC purchased a new stake in shares of Bio-Rad Laboratories during the third quarter worth $82,000. 64.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BIO shares. TheStreet upgraded Bio-Rad Laboratories from a “d+” rating to a “c” rating in a research report on Thursday, February 16th. Royal Bank of Canada increased their target price on Bio-Rad Laboratories from $571.00 to $579.00 and gave the stock an “outperform” rating in a research report on Friday, February 17th. StockNews.com assumed coverage on Bio-Rad Laboratories in a research report on Thursday, March 16th. They set a “buy” rating on the stock. Finally, Credit Suisse Group increased their price objective on Bio-Rad Laboratories from $640.00 to $680.00 and gave the stock an “outperform” rating in a research report on Friday, February 17th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, Bio-Rad Laboratories currently has a consensus rating of “Buy” and a consensus price target of $653.00.

Bio-Rad Laboratories Trading Down 16.7 %

Shares of BIO stock opened at $385.24 on Friday. The company has a market capitalization of $11.40 billion, a PE ratio of -3.17 and a beta of 0.91. The company has a debt-to-equity ratio of 0.12, a quick ratio of 4.29 and a current ratio of 5.55. Bio-Rad Laboratories, Inc. has a 52-week low of $344.63 and a 52-week high of $572.70. The business’s fifty day moving average is $470.11 and its 200 day moving average is $441.47.

Bio-Rad Laboratories (NYSE:BIO – Get Rating) last released its earnings results on Thursday, May 4th. The medical research company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $0.10. The business had revenue of $676.80 million for the quarter, compared to analysts’ expectations of $689.28 million. Bio-Rad Laboratories had a positive return on equity of 4.59% and a negative net margin of 129.66%. The firm’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.94 earnings per share. On average, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 15.91 EPS for the current fiscal year.

Insider Activity at Bio-Rad Laboratories

In related news, EVP Timothy S. Ernst sold 1,746 shares of the stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $486.43, for a total value of $849,306.78. Following the transaction, the executive vice president now owns 2,671 shares of the company’s stock, valued at $1,299,254.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.06% of the stock is owned by insiders.

About Bio-Rad Laboratories

(Get Rating)

Bio-Rad Laboratories, Inc engages in the development and production of specialty chemicals used in biochemical, pharmaceutical, and other life science research applications. It operates through the Life Sciences and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments.

Read More

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

Receive News & Ratings for Bio-Rad Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Rad Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.