Patriot Financial Group Insurance Agency LLC Purchases New Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Patriot Financial Group Insurance Agency LLC purchased a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,145 shares of the medical research company's stock, valued at approximately $279,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealthfront Advisers LLC purchased a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at $342,686,000. Bank of America Corp DE lifted its stake in shares of Bio-Rad Laboratories by 705.9% in the fourth quarter. Bank of America Corp DE now owns 427,292 shares of the medical research company's stock worth $140,370,000 after acquiring an additional 374,269 shares in the last quarter. Ariel Investments LLC increased its holdings in Bio-Rad Laboratories by 48.0% in the fourth quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company's stock valued at $184,138,000 after buying an additional 181,829 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Bio-Rad Laboratories by 22,131.7% during the first quarter. GAMMA Investing LLC now owns 147,841 shares of the medical research company's stock valued at $36,008,000 after purchasing an additional 147,176 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $41,644,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Down 2.1%

NYSE BIO traded down $4.99 during trading on Friday, hitting $227.43. 452,343 shares of the company traded hands, compared to its average volume of 330,283. Bio-Rad Laboratories, Inc. has a 12 month low of $211.43 and a 12 month high of $387.99. The business has a fifty day simple moving average of $236.37 and a 200 day simple moving average of $282.10. 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 company has a market capitalization of $6.19 billion, a P/E ratio of -3.50 and a beta of 0.93.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on BIO. Wall Street Zen lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Sunday, June 8th. Wells Fargo & Company reduced their price objective on Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating for the company in a research note on Monday. Royal Bank of Canada reduced their price objective on Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Citigroup decreased their target price on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, UBS Group reduced their price objective on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Bio-Rad Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $324.25.

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.