Exchange Traded Concepts LLC Raises Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Exchange Traded Concepts LLC increased its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 175.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,235 shares of the medical research company's stock after purchasing an additional 3,973 shares during the period. Exchange Traded Concepts LLC's holdings in Bio-Rad Laboratories were worth $1,519,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BIO. Assenagon Asset Management S.A. purchased a new position in Bio-Rad Laboratories in the 1st quarter valued at approximately $1,078,000. Harbor Capital Advisors Inc. boosted its position in Bio-Rad Laboratories by 15.9% in the 1st quarter. Harbor Capital Advisors Inc. now owns 9,071 shares of the medical research company's stock valued at $2,209,000 after buying an additional 1,247 shares during the period. Park Avenue Securities LLC boosted its position in Bio-Rad Laboratories by 4.4% in the 1st quarter. Park Avenue Securities LLC now owns 2,391 shares of the medical research company's stock valued at $582,000 after buying an additional 100 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new position in Bio-Rad Laboratories in the 1st quarter valued at approximately $279,000. Finally, Curat Global LLC acquired a new stake in shares of Bio-Rad Laboratories in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Up 1.8%

NYSE:BIO traded up $4.11 during midday trading on Friday, hitting $236.11. 1,487,428 shares of the company were exchanged, compared to its average volume of 376,618. The company has a fifty day simple moving average of $235.73 and a 200 day simple moving average of $278.06. 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 current ratio of 5.99, a quick ratio of 4.43 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $6.42 billion, a PE ratio of -3.10 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $2.54 EPS for the quarter, topping the consensus estimate of $1.73 by $0.81. Bio-Rad Laboratories had a negative net margin of 85.16% and a positive return on equity of 4.32%. The firm had revenue of $585.40 million for the quarter, compared to analyst estimates of $573.01 million. During the same period last year, the business earned $2.30 EPS. Bio-Rad Laboratories's revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BIO shares. Royal Bank Of Canada reduced 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 report on Friday, May 2nd. Wall Street Zen lowered shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Sunday, June 8th. Citigroup reduced their price objective 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. Wells Fargo & Company reduced their price objective on shares of Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating on the stock in a report on Monday, June 9th. Finally, UBS Group reduced their price objective on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Bio-Rad Laboratories currently has a consensus rating of "Moderate Buy" and a consensus price target 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.