Patriot Financial Group Insurance Agency LLC Purchases New Position 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 the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,145 shares of the medical research company's stock, valued at approximately $279,000.

A number of other hedge funds also recently modified their holdings of the company. Strategic Financial Concepts LLC acquired a new stake in Bio-Rad Laboratories during the fourth quarter worth $3,561,000. LPL Financial LLC raised its position in Bio-Rad Laboratories by 34.3% in the fourth quarter. LPL Financial LLC now owns 5,195 shares of the medical research company's stock worth $1,707,000 after purchasing an additional 1,326 shares in the last quarter. Blackhawk Capital Partners LLC. lifted its stake in Bio-Rad Laboratories by 190.5% during the fourth quarter. Blackhawk Capital Partners LLC. now owns 2,176 shares of the medical research company's stock worth $715,000 after purchasing an additional 1,427 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in Bio-Rad Laboratories during the fourth quarter valued at approximately $245,000. Finally, Truist Financial Corp grew its stake in shares of Bio-Rad Laboratories by 0.8% in the 4th quarter. Truist Financial Corp now owns 9,186 shares of the medical research company's stock valued at $3,018,000 after purchasing an additional 72 shares during the period. Institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Trading Up 0.5%

Shares of NYSE BIO traded up $1.14 during midday trading on Thursday, hitting $231.33. The stock had a trading volume of 219,347 shares, compared to its average volume of 327,573. The firm has a market cap of $6.30 billion, a P/E ratio of -3.56 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a fifty-two week low of $211.43 and a fifty-two week high of $387.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85. The company's 50-day simple moving average is $236.17 and its 200 day simple moving average is $283.58.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $2.54 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.81. The firm had revenue of $585.40 million during 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 company's revenue was down 4.2% on a year-over-year basis. During the same period last year, the company earned $2.30 earnings per share. Research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Wall Street Analysts Forecast Growth

BIO has been the topic of a number of analyst reports. Wells Fargo & Company lowered their price target on Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Monday. Wall Street Zen cut shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Sunday. 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. Royal Bank of Canada decreased their price objective on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Citigroup decreased their price target on 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Bio-Rad Laboratories has an average rating of "Moderate Buy" and a consensus price target of $324.25.

About Bio-Rad Laboratories

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.