American Century Companies Inc. grew its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO – Free Report) by 261.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,011 shares of the medical research company’s stock after purchasing an additional 34,008 shares during the quarter. American Century Companies Inc. owned about 0.16% of Bio-Rad Laboratories worth $22,519,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Simplicity Solutions LLC boosted its position in shares of Bio-Rad Laboratories by 303.7% in the first quarter. Simplicity Solutions LLC now owns 2,067 shares of the medical research company’s stock valued at $990,000 after acquiring an additional 1,555 shares during the period. Principal Financial Group Inc. boosted its position in shares of Bio-Rad Laboratories by 1.0% in the first quarter. Principal Financial Group Inc. now owns 30,433 shares of the medical research company’s stock valued at $14,578,000 after acquiring an additional 304 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Bio-Rad Laboratories by 17.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 949 shares of the medical research company’s stock valued at $399,000 after acquiring an additional 141 shares during the period. Picton Mahoney Asset Management bought a new position in shares of Bio-Rad Laboratories in the fourth quarter valued at approximately $149,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Bio-Rad Laboratories in the first quarter valued at approximately $502,000. Institutional investors own 63.98% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Bio-Rad Laboratories in a research report on Thursday, August 17th. They set a “buy” rating for the company. Royal Bank of Canada lifted their target price on shares of Bio-Rad Laboratories from $522.00 to $524.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Wells Fargo & Company dropped their target price on shares of Bio-Rad Laboratories from $550.00 to $525.00 and set an “overweight” rating for the company in a research report on Monday, August 7th. Finally, Credit Suisse Group dropped their target price on shares of Bio-Rad Laboratories from $580.00 to $550.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $533.00.
Bio-Rad Laboratories Trading Up 0.3 %
Shares of BIO opened at $396.89 on Thursday. The firm has a market cap of $11.54 billion, a price-to-earnings ratio of -26.44 and a beta of 0.89. 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, Inc. has a fifty-two week low of $344.63 and a fifty-two week high of $514.25. The firm has a 50 day moving average price of $391.55 and a 200-day moving average price of $420.72.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The medical research company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.45. The firm had revenue of $681.10 million during the quarter, compared to analyst estimates of $697.96 million. Bio-Rad Laboratories had a negative net margin of 15.52% and a positive return on equity of 4.02%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.38 EPS. As a group, equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 12.94 earnings per share for the current year.
Insider Buying and Selling
In related news, CAO Ajit Ramalingam sold 198 shares of Bio-Rad Laboratories stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $368.30, for a total value of $72,923.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Bio-Rad Laboratories news, CAO Ajit Ramalingam sold 198 shares of the business’s stock in a transaction on 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 filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Crowley sold 500 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $379.39, for a total transaction of $189,695.00. Following the transaction, the executive vice president now directly owns 6,040 shares in the company, valued at $2,291,515.60. The disclosure for this sale can be found here. Insiders have sold a total of 998 shares of company stock valued at $378,025 over the last three months. 17.06% of the stock is owned by company insiders.
About Bio-Rad Laboratories
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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