Credit Suisse AG raised its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO – Free Report) by 29.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 43,475 shares of the medical research company’s stock after purchasing an additional 9,914 shares during the quarter. Credit Suisse AG owned 0.15% of Bio-Rad Laboratories worth $20,825,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Eagle Asset Management Inc. boosted its position in Bio-Rad Laboratories by 1.0% during the 4th quarter. Eagle Asset Management Inc. now owns 2,225 shares of the medical research company’s stock valued at $939,000 after buying an additional 23 shares during the period. Mather Group LLC. raised its stake in shares of Bio-Rad Laboratories by 6.8% during the first quarter. Mather Group LLC. now owns 377 shares of the medical research company’s stock valued at $212,000 after acquiring an additional 24 shares during the last quarter. Park Place Capital Corp raised its stake in shares of Bio-Rad Laboratories by 6.3% during the first quarter. Park Place Capital Corp now owns 419 shares of the medical research company’s stock valued at $201,000 after acquiring an additional 25 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Bio-Rad Laboratories by 5.5% during the first quarter. Raymond James Trust N.A. now owns 501 shares of the medical research company’s stock worth $283,000 after purchasing an additional 26 shares during the period. Finally, Texas Permanent School Fund grew its stake in shares of Bio-Rad Laboratories by 0.9% in the fourth quarter. Texas Permanent School Fund now owns 3,059 shares of the medical research company’s stock worth $1,286,000 after purchasing an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 64.11% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on BIO. Royal Bank of Canada upped their price target on Bio-Rad Laboratories from $522.00 to $524.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. StockNews.com initiated coverage on Bio-Rad Laboratories in a report on Thursday, August 17th. They set a “buy” rating for the company. Credit Suisse Group cut their price target on shares of Bio-Rad Laboratories from $580.00 to $550.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. Finally, Wells Fargo & Company reduced their price objective on shares of Bio-Rad Laboratories from $550.00 to $525.00 and set an “overweight” rating on the stock in a research report on Monday, August 7th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $533.00.
Insider Activity
In related news, CAO Ajit Ramalingam sold 198 shares of Bio-Rad Laboratories stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $368.30, for a total transaction of $72,923.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Ajit Ramalingam sold 198 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $368.30, for a total value of $72,923.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Timothy S. Ernst sold 300 shares of Bio-Rad Laboratories stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $384.69, for a total value of $115,407.00. Following the transaction, the executive vice president now owns 2,416 shares of the company’s stock, valued at approximately $929,411.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 998 shares of company stock worth $378,025. Corporate insiders own 17.06% of the company’s stock.
Bio-Rad Laboratories Stock Up 1.8 %
BIO stock opened at $385.96 on Thursday. Bio-Rad Laboratories, Inc. has a fifty-two week low of $344.63 and a fifty-two week high of $516.90. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of -25.71 and a beta of 0.89. The business’s 50 day moving average price is $390.10 and its two-hundred day moving average price is $423.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.06 and a current ratio of 5.39.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The medical research company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.45. The company had revenue of $681.10 million for the quarter, compared to analyst estimates of $697.96 million. Bio-Rad Laboratories had a positive return on equity of 4.02% and a negative net margin of 15.52%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.38 earnings per share. As a group, analysts forecast that Bio-Rad Laboratories, Inc. will post 12.94 earnings per share for the current fiscal year.
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. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.
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