Allianz Asset Management GmbH Invests $3.98 Million in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Allianz Asset Management GmbH bought a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,346 shares of the medical research company's stock, valued at approximately $3,981,000. Allianz Asset Management GmbH owned 0.06% of Bio-Rad Laboratories at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BIO. Thrivent Financial for Lutherans grew its stake in shares of Bio-Rad Laboratories by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company's stock worth $1,488,000 after purchasing an additional 32 shares during the last quarter. Lecap Asset Management Ltd. boosted its position in Bio-Rad Laboratories by 3.1% during the first quarter. Lecap Asset Management Ltd. now owns 1,600 shares of the medical research company's stock valued at $390,000 after acquiring an additional 48 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Bio-Rad Laboratories by 2.5% during the first quarter. State of Alaska Department of Revenue now owns 2,254 shares of the medical research company's stock valued at $548,000 after acquiring an additional 55 shares during the last quarter. ProShare Advisors LLC boosted its position in Bio-Rad Laboratories by 8.0% during the fourth quarter. ProShare Advisors LLC now owns 901 shares of the medical research company's stock valued at $296,000 after acquiring an additional 67 shares during the last quarter. Finally, GeoWealth Management LLC boosted its position in Bio-Rad Laboratories by 342.9% during the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock valued at $31,000 after acquiring an additional 72 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BIO shares. Citigroup lowered their target price on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Wall Street Zen lowered shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Royal Bank Of Canada increased their price objective on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an "outperform" rating in a research note on Friday. UBS Group decreased their price objective on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Wells Fargo & Company increased their target price 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $333.50.

Bio-Rad Laboratories Stock Up 18.4%

Bio-Rad Laboratories stock traded up $44.58 during trading hours on Friday, hitting $286.53. The stock had a trading volume of 471,676 shares, compared to its average volume of 333,719. The company has a quick ratio of 4.43, a current ratio of 5.99 and a debt-to-equity ratio of 0.18. The stock's 50-day moving average price is $239.98 and its 200-day moving average price is $261.37. Bio-Rad Laboratories, Inc. has a 12-month low of $211.43 and a 12-month high of $387.99. The stock has a market capitalization of $7.80 billion, a P/E ratio of -3.76 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical research company reported $2.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.93 by $0.68. Bio-Rad Laboratories had a negative net margin of 85.16% and a positive return on equity of 4.32%. The business had revenue of $651.60 million during the quarter, compared to analyst estimates of $614.82 million. During the same period in the prior year, the business posted $3.11 earnings per share. The company's revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS 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.