DAVENPORT & Co LLC Raises Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

DAVENPORT & Co LLC raised its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 14.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,605 shares of the medical research company's stock after buying an additional 11,928 shares during the quarter. DAVENPORT & Co LLC owned about 0.34% of Bio-Rad Laboratories worth $23,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in BIO. GeoWealth Management LLC grew its holdings in Bio-Rad Laboratories by 342.9% during the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock valued at $31,000 after buying an additional 72 shares in the last quarter. Picton Mahoney Asset Management grew its holdings in shares of Bio-Rad Laboratories by 55.6% in the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock valued at $32,000 after purchasing an additional 35 shares in the last quarter. Curat Global LLC purchased a new position in shares of Bio-Rad Laboratories in the first quarter valued at $34,000. Brown Brothers Harriman & Co. grew its holdings in shares of Bio-Rad Laboratories by 2,928.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 212 shares of the medical research company's stock valued at $70,000 after purchasing an additional 205 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Bio-Rad Laboratories in the fourth quarter worth $71,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Up 0.4%

BIO traded up $0.91 on Friday, hitting $251.56. The company had a trading volume of 109,086 shares, compared to its average volume of 394,398. The stock has a fifty day moving average price of $235.85 and a 200-day moving average price of $271.75. Bio-Rad Laboratories, Inc. has a 12-month low of $211.43 and a 12-month high of $387.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.43 and a current ratio of 5.99. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of -3.30 and a beta of 0.95.

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 (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.81. Bio-Rad Laboratories had a positive return on equity of 4.32% and a negative net margin of 85.16%. The company had revenue of $585.40 million for the quarter, compared to analyst estimates of $573.01 million. During the same quarter in the previous year, the firm earned $2.30 earnings per share. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. Analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BIO has been the subject of several research analyst reports. 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. UBS Group decreased their price objective on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company decreased their price objective on Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating for the company in a report on Monday, June 9th. Royal Bank Of Canada decreased their price objective on Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Saturday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $324.25.

Bio-Rad Laboratories Company 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.