Bank of America Corp DE Acquires 374,269 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Bank of America Corp DE boosted its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 705.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 427,292 shares of the medical research company's stock after acquiring an additional 374,269 shares during the period. Bank of America Corp DE owned about 1.53% of Bio-Rad Laboratories worth $140,370,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Venturi Wealth Management LLC grew its position in Bio-Rad Laboratories by 2,175.0% in the fourth quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company's stock worth $30,000 after buying an additional 87 shares during the last quarter. GeoWealth Management LLC lifted its stake in shares of Bio-Rad Laboratories by 342.9% in the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock valued at $31,000 after purchasing an additional 72 shares during the last quarter. Picton Mahoney Asset Management raised its holdings in Bio-Rad Laboratories by 55.6% in the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock worth $32,000 after acquiring an additional 35 shares during the period. Asset Planning Inc bought a new position in shares of Bio-Rad Laboratories during the 4th quarter worth about $33,000. Finally, UMB Bank n.a. increased its holdings in shares of Bio-Rad Laboratories by 41.6% during the 4th quarter. UMB Bank n.a. now owns 109 shares of the medical research company's stock worth $36,000 after purchasing an additional 32 shares during the period. Institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Trading Up 1.2%

Shares of BIO traded up $2.76 on Thursday, reaching $239.83. 105,186 shares of the company's stock were exchanged, compared to its average volume of 318,210. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $6.72 billion, a P/E ratio of -3.69 and a beta of 1.00. The business has a 50 day moving average price of $243.64 and a two-hundred day moving average price of $299.90. Bio-Rad Laboratories, Inc. has a 12 month low of $215.38 and a 12 month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.73 by $0.81. The business had revenue of $585.40 million during the quarter, compared to the consensus estimate of $573.01 million. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. Bio-Rad Laboratories's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.30 earnings per share. Research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on BIO shares. UBS Group reduced their price target on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company reduced their price target on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Citigroup reduced their price target on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. StockNews.com lowered shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Finally, Royal Bank of Canada reduced their target price on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Bio-Rad Laboratories has an average rating of "Moderate Buy" and an average price target of $327.40.

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.