Canada Pension Plan Investment Board increased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 920.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,100 shares of the medical research company’s stock after buying an additional 4,600 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Bio-Rad Laboratories were worth $1,133,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Pacad Investment Ltd. acquired a new stake in Bio-Rad Laboratories during the second quarter worth about $113,000. First Manhattan Co. grew its position in Bio-Rad Laboratories by 71.6% during the third quarter. First Manhattan Co. now owns 599 shares of the medical research company’s stock worth $133,000 after buying an additional 250 shares in the last quarter. Turner Investments LLC acquired a new stake in Bio-Rad Laboratories during the second quarter worth about $136,000. Meeder Asset Management Inc. grew its position in Bio-Rad Laboratories by 3,333.3% during the third quarter. Meeder Asset Management Inc. now owns 618 shares of the medical research company’s stock worth $137,000 after buying an additional 600 shares in the last quarter. Finally, Capital Analysts LLC acquired a new stake in Bio-Rad Laboratories during the second quarter worth about $170,000. 62.76% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. TheStreet raised Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a report on Monday, November 13th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $255.00 price objective on shares of Bio-Rad Laboratories in a report on Monday, September 18th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Bio-Rad Laboratories has an average rating of “Buy” and a consensus target price of $260.00.
Shares of Bio-Rad Laboratories, Inc. (NYSE BIO) opened at $255.49 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.77 and a current ratio of 4.06. The firm has a market capitalization of $7,604.15, a P/E ratio of 81.11, a price-to-earnings-growth ratio of 3.86 and a beta of 0.88. Bio-Rad Laboratories, Inc. has a 1-year low of $169.19 and a 1-year high of $268.40.
Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.37. The company had revenue of $535.00 million for the quarter, compared to the consensus estimate of $507.99 million. Bio-Rad Laboratories had a return on equity of 3.44% and a net margin of 1.15%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 earnings per share. equities research analysts predict that Bio-Rad Laboratories, Inc. will post 2.65 EPS for the current fiscal year.
In other Bio-Rad Laboratories news, EVP Giovanni Magni sold 2,400 shares of Bio-Rad Laboratories stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $253.01, for a total transaction of $607,224.00. Following the sale, the executive vice president now directly owns 9,251 shares of the company’s stock, valued at $2,340,595.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.29% of the stock is currently owned by insiders.
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Bio-Rad Laboratories Profile
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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