Koss Olinger Consulting LLC Takes $1.50 Million Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Key Points

• Koss Olinger Consulting LLC has acquired 6,148 shares of Bio-Rad Laboratories, valued at approximately $1.497 million, according to a Form 13F filing.
• Bio-Rad Laboratories reported a net margin of 12.50% and earnings per share of $2.61, surpassing analysts' expectations of $1.93.
• Research analysts have set new price targets for Bio-Rad, with Royal Bank Of Canada raising its target from $387 to $409, indicating an "outperform" rating.

Koss Olinger Consulting LLC acquired a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,148 shares of the medical research company's stock, valued at approximately $1,497,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position in Bio-Rad Laboratories by 64.9% in the first quarter. Citigroup Inc. now owns 34,629 shares of the medical research company's stock valued at $8,434,000 after purchasing an additional 13,635 shares during the period. Swiss National Bank lifted its position in Bio-Rad Laboratories by 0.5% in the first quarter. Swiss National Bank now owns 55,000 shares of the medical research company's stock valued at $13,396,000 after purchasing an additional 300 shares during the period. CenterBook Partners LP lifted its position in Bio-Rad Laboratories by 125.5% in the first quarter. CenterBook Partners LP now owns 26,654 shares of the medical research company's stock valued at $6,492,000 after purchasing an additional 14,835 shares during the period. Headlands Technologies LLC lifted its position in Bio-Rad Laboratories by 64.1% in the first quarter. Headlands Technologies LLC now owns 356 shares of the medical research company's stock valued at $87,000 after purchasing an additional 139 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its position in Bio-Rad Laboratories by 8.8% in the first quarter. Ontario Teachers Pension Plan Board now owns 2,217 shares of the medical research company's stock valued at $540,000 after purchasing an additional 179 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on BIO. Citigroup reduced their price target on shares of 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. UBS Group reduced their price target on shares of 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. Wells Fargo & Company lifted their price target on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Royal Bank Of Canada lifted their price objective on Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $333.50.

Bio-Rad Laboratories Trading Up 3.8%

BIO stock traded up $9.96 during midday trading on Tuesday, hitting $274.49. The stock had a trading volume of 235,138 shares, compared to its average volume of 335,677. Bio-Rad Laboratories, Inc. has a 12-month low of $211.43 and a 12-month high of $387.99. The company's 50-day moving average price is $246.24 and its 200 day moving average price is $256.29. The firm has a market cap of $7.43 billion, a PE ratio of 23.40 and a beta of 0.90. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.12 and a quick ratio of 3.67.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.68. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.01%. The company had revenue of $651.60 million during the quarter, compared to analysts' expectations of $614.82 million. During the same period in the previous year, the company earned $3.11 EPS. The business's quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

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.