Fifth Third Bancorp increased its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,258 shares of the medical research company’s stock after acquiring an additional 124 shares during the period. Fifth Third Bancorp’s holdings in Bio-Rad Laboratories were worth $2,710,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton acquired a new stake in shares of Bio-Rad Laboratories in the 2nd quarter worth approximately $27,000. IFP Advisors Inc grew its holdings in shares of Bio-Rad Laboratories by 44.2% in the 2nd quarter. IFP Advisors Inc now owns 62 shares of the medical research company’s stock worth $27,000 after acquiring an additional 19 shares during the period. NEXT Financial Group Inc acquired a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth approximately $29,000. Newfound Research LLC acquired a new stake in Bio-Rad Laboratories during the 3rd quarter valued at $34,000. Finally, Creative Financial Designs Inc. ADV acquired a new stake in Bio-Rad Laboratories during the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 60.06% of the company’s stock.
In other Bio-Rad Laboratories news, EVP Annette Tumolo sold 1,200 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $640.72, for a total transaction of $768,864.00. Following the transaction, the executive vice president now owns 5,322 shares of the company’s stock, valued at approximately $3,409,911.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 27.50% of the company’s stock.
A number of brokerages have commented on BIO. Jefferies Financial Group reiterated a “market perform” rating and set a $666.00 target price on shares of Bio-Rad Laboratories in a report on Thursday, September 3rd. Smith Barney Citigroup increased their target price on Bio-Rad Laboratories from $625.00 to $675.00 in a report on Friday, October 30th. Wells Fargo & Company increased their target price on Bio-Rad Laboratories from $590.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Finally, Citigroup increased their target price on Bio-Rad Laboratories from $525.00 to $625.00 and gave the company a “buy” rating in a report on Friday, July 31st.
Shares of Bio-Rad Laboratories stock opened at $569.98 on Friday. Bio-Rad Laboratories, Inc. has a fifty-two week low of $309.38 and a fifty-two week high of $648.39. The firm has a market cap of $17.00 billion, a PE ratio of 4.88 and a beta of 1.00. The business’s fifty day moving average is $574.77 and its two-hundred day moving average is $508.74.
Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, October 29th. The medical research company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $1.15. Bio-Rad Laboratories had a return on equity of 3.77% and a net margin of 147.91%. The company had revenue of $647.26 million for the quarter, compared to analyst estimates of $567.35 million. During the same quarter in the prior year, the company posted $1.61 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, analysts forecast that Bio-Rad Laboratories, Inc. will post 9.61 EPS for the current fiscal year.
Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the United States, Canada, and Latin America. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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