Greenleaf Trust Purchases New Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Greenleaf Trust purchased a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 695 shares of the medical research company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ING Groep NV purchased a new position in shares of Bio-Rad Laboratories in the 3rd quarter valued at about $44,000. Banque Cantonale Vaudoise increased its stake in shares of Bio-Rad Laboratories by 25.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 375 shares of the medical research company’s stock valued at $135,000 after purchasing an additional 75 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Bio-Rad Laboratories by 139.8% during the 3rd quarter. First Eagle Investment Management LLC now owns 458 shares of the medical research company’s stock worth $164,000 after buying an additional 267 shares in the last quarter. Blue Trust Inc. increased its stake in Bio-Rad Laboratories by 42.0% during the 4th quarter. Blue Trust Inc. now owns 480 shares of the medical research company’s stock worth $172,000 after buying an additional 142 shares in the last quarter. Finally, FDx Advisors Inc. purchased a new stake in Bio-Rad Laboratories during the 3rd quarter worth approximately $214,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Down 2.5 %

BIO opened at $278.04 on Thursday. Bio-Rad Laboratories, Inc. has a one year low of $261.59 and a one year high of $473.50. The stock has a market capitalization of $7.93 billion, a PE ratio of -12.94 and a beta of 0.87. The business’s 50 day moving average price is $327.31 and its 200 day moving average price is $318.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.34 and a current ratio of 5.83.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.17. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. The firm had revenue of $681.18 million for the quarter, compared to analysts’ expectations of $685.00 million. During the same period in the prior year, the firm posted $3.31 earnings per share. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. As a group, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.41 EPS for the current year.

Insider Activity at Bio-Rad Laboratories

In related news, EVP Michael Crowley sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total value of $1,008,000.00. Following the transaction, the executive vice president now directly owns 6,942 shares in the company, valued at $2,332,512. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. StockNews.com lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $400.00 to $365.00 in a research note on Wednesday, April 3rd. Royal Bank of Canada cut their price objective on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Finally, UBS Group upped their price target on Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $468.00.

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. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.